Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Position in TJX Companies Inc (TJX)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of TJX Companies Inc (NYSE:TJX) by 97.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,357,300 shares of the apparel and home fashions retailer’s stock after purchasing an additional 671,200 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.11% of TJX Companies worth $60,726,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TJX. Hilltop Holdings Inc. increased its position in TJX Companies by 84.1% during the fourth quarter. Hilltop Holdings Inc. now owns 19,083 shares of the apparel and home fashions retailer’s stock valued at $854,000 after acquiring an additional 8,716 shares during the last quarter. Suntrust Banks Inc. increased its position in TJX Companies by 99.0% during the fourth quarter. Suntrust Banks Inc. now owns 282,971 shares of the apparel and home fashions retailer’s stock valued at $12,660,000 after acquiring an additional 140,762 shares during the last quarter. First Commonwealth Financial Corp PA increased its position in TJX Companies by 102.1% during the fourth quarter. First Commonwealth Financial Corp PA now owns 9,472 shares of the apparel and home fashions retailer’s stock valued at $423,000 after acquiring an additional 4,786 shares during the last quarter. Kopp Investment Advisors LLC increased its position in TJX Companies by 105.3% during the fourth quarter. Kopp Investment Advisors LLC now owns 12,937 shares of the apparel and home fashions retailer’s stock valued at $579,000 after acquiring an additional 6,637 shares during the last quarter. Finally, Bank of America Corp DE increased its position in TJX Companies by 101.0% during the fourth quarter. Bank of America Corp DE now owns 17,076,340 shares of the apparel and home fashions retailer’s stock valued at $763,995,000 after acquiring an additional 8,580,989 shares during the last quarter. 89.88% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on the stock. Argus boosted their price objective on shares of TJX Companies to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Loop Capital upped their price target on shares of TJX Companies from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday, February 27th. MKM Partners upped their price target on shares of TJX Companies from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. Morgan Stanley upped their price target on shares of TJX Companies from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, February 28th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $62.00 price target (up from $56.00) on shares of TJX Companies in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $55.34.

In other TJX Companies news, Director Amy B. Lane sold 1,000 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.79, for a total transaction of $51,790.00. Following the completion of the sale, the director now directly owns 31,092 shares of the company’s stock, valued at $1,610,254.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott Goldenberg sold 37,248 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.90, for a total transaction of $2,007,667.20. Following the sale, the chief financial officer now directly owns 195,712 shares of the company’s stock, valued at $10,548,876.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,498 shares of company stock valued at $4,558,772. Insiders own 0.20% of the company’s stock.

Shares of TJX Companies stock opened at $54.24 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. TJX Companies Inc has a 1 year low of $40.65 and a 1 year high of $56.64. The stock has a market cap of $65.86 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.90 and a beta of 0.66.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.09). TJX Companies had a return on equity of 57.42% and a net margin of 7.85%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that TJX Companies Inc will post 2.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.70%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio is presently 36.97%.

TJX Companies announced that its board has approved a stock buyback plan on Wednesday, February 27th that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the apparel and home fashions retailer to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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About TJX Companies

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.

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Institutional Ownership by Quarter for TJX Companies (NYSE:TJX)

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