IBM Retirement Fund grew its position in TJX Companies Inc (NYSE:TJX) by 86.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,219 shares of the apparel and home fashions retailer’s stock after acquiring an additional 10,753 shares during the quarter. IBM Retirement Fund’s holdings in TJX Companies were worth $1,039,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in TJX. BlackRock Inc. lifted its position in shares of TJX Companies by 113.3% during the 4th quarter. BlackRock Inc. now owns 90,260,028 shares of the apparel and home fashions retailer’s stock worth $4,038,232,000 after buying an additional 47,939,993 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of TJX Companies by 13,963.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,176,882 shares of the apparel and home fashions retailer’s stock worth $585,000 after buying an additional 25,990,744 shares during the period. Bank of New York Mellon Corp lifted its position in shares of TJX Companies by 77.9% during the 4th quarter. Bank of New York Mellon Corp now owns 33,050,653 shares of the apparel and home fashions retailer’s stock worth $1,478,686,000 after buying an additional 14,469,980 shares during the period. Geode Capital Management LLC lifted its position in shares of TJX Companies by 115.8% during the 4th quarter. Geode Capital Management LLC now owns 17,734,026 shares of the apparel and home fashions retailer’s stock worth $792,161,000 after buying an additional 9,515,682 shares during the period. Finally, Northern Trust Corp lifted its position in shares of TJX Companies by 110.6% during the 4th quarter. Northern Trust Corp now owns 17,690,380 shares of the apparel and home fashions retailer’s stock worth $791,468,000 after buying an additional 9,291,759 shares during the period. Institutional investors own 91.26% of the company’s stock.
Shares of NYSE TJX traded up $0.06 during midday trading on Friday, hitting $55.12. The stock had a trading volume of 3,577,233 shares, compared to its average volume of 4,832,045. The stock has a market capitalization of $66.95 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.66. TJX Companies Inc has a fifty-two week low of $40.65 and a fifty-two week high of $56.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.53.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.23 dividend. This is a boost from TJX Companies’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is 36.97%.
TJX Companies announced that its Board of Directors has approved a share repurchase program on Wednesday, February 27th that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities analysts recently commented on TJX shares. Zacks Investment Research downgraded TJX Companies from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. Morgan Stanley raised their target price on TJX Companies from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. ValuEngine upgraded TJX Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Barclays set a $56.00 target price on TJX Companies and gave the stock a “hold” rating in a research report on Thursday, February 28th. Finally, Telsey Advisory Group upgraded TJX Companies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $51.00 to $56.00 in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.34.
In related news, CFO Scott Goldenberg sold 37,248 shares of TJX Companies stock in a transaction on Friday, April 12th. The stock was sold at an average price of $53.90, for a total transaction of $2,007,667.20. Following the completion of the sale, the chief financial officer now directly owns 195,712 shares of the company’s stock, valued at $10,548,876.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Amy B. Lane sold 1,000 shares of TJX Companies stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $51.79, for a total value of $51,790.00. Following the sale, the director now directly owns 31,092 shares of the company’s stock, valued at $1,610,254.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,498 shares of company stock valued at $4,558,772. 0.20% of the stock is owned by insiders.
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TJX Companies Company Profile
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, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.
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