Sciencast Management LP purchased a new stake in TJX Companies Inc (NYSE:TJX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,704 shares of the apparel and home fashions retailer’s stock, valued at approximately $1,390,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC bought a new position in TJX Companies in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in TJX Companies in the first quarter valued at approximately $25,000. Adirondack Trust Co. increased its stake in TJX Companies by 100.0% in the fourth quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock valued at $26,000 after acquiring an additional 290 shares during the last quarter. Westside Investment Management Inc. increased its stake in TJX Companies by 100.0% in the fourth quarter. Westside Investment Management Inc. now owns 600 shares of the apparel and home fashions retailer’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Finally, Edge Wealth Management LLC increased its stake in TJX Companies by 100.0% in the fourth quarter. Edge Wealth Management LLC now owns 650 shares of the apparel and home fashions retailer’s stock valued at $29,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 91.26% of the company’s stock.
A number of analysts have weighed in on TJX shares. Zacks Investment Research cut shares of TJX Companies from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Morgan Stanley boosted their target price on shares of TJX Companies from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. ValuEngine raised shares of TJX Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Barclays set a $56.00 target price on shares of TJX Companies and gave the stock a “hold” rating in a research note on Thursday, February 28th. Finally, Telsey Advisory Group raised shares of TJX Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $56.00 in a research note 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’s stock. TJX Companies currently has an average rating of “Buy” and a consensus price target of $55.34.
TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share for the quarter, missing the 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 during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that TJX Companies Inc will post 2.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors 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. The ex-dividend date is Wednesday, May 15th. This represents a $0.92 annualized dividend and a dividend yield of 1.67%. TJX Companies’s payout ratio is currently 36.97%.
TJX Companies declared that its board has initiated a stock repurchase plan on Wednesday, February 27th that permits the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization permits the apparel and home fashions retailer to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Amy B. Lane sold 1,625 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $54.00, for a total value of $87,750.00. Following the transaction, the director now owns 27,842 shares in the company, valued at $1,503,468. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amy B. Lane sold 1,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 31,092 shares in the company, valued at approximately $1,610,254.68. The disclosure for this sale can be found here. In the last three months, insiders sold 84,498 shares of company stock worth $4,558,772. 0.20% of the stock is currently owned by insiders.
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TJX Companies 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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