Tyvor Capital LLC bought a new position in TJX Companies Inc (NYSE:TJX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 500,000 shares of the apparel and home fashions retailer’s stock, valued at approximately $22,370,000. TJX Companies accounts for about 11.7% of Tyvor Capital LLC’s holdings, making the stock its biggest holding.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in 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 valued at $4,038,232,000 after acquiring an additional 47,939,993 shares during the period. Oregon Public Employees Retirement Fund increased 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 valued at $585,000 after purchasing an additional 25,990,744 shares during the last quarter. Bank of New York Mellon Corp increased 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 valued at $1,478,686,000 after purchasing an additional 14,469,980 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $792,161,000 after purchasing an additional 9,515,682 shares during the last quarter. Finally, Northern Trust Corp increased 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 valued at $791,468,000 after purchasing an additional 9,291,759 shares during the last quarter. 91.26% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Amy B. Lane sold 1,625 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $53.00, for a total transaction of $86,125.00. Following the transaction, the director now owns 29,467 shares in the company, valued at $1,561,751. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy B. Lane sold 1,000 shares of TJX Companies stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.79, for a total value 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 90 days, insiders have sold 109,498 shares of company stock worth $5,933,022. Insiders own 0.20% of the company’s stock.
TJX Companies (NYSE:TJX) last released its earnings results 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 for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that TJX Companies Inc will post 2.61 EPS for the current fiscal year.
TJX Companies declared that its board has initiated a stock repurchase plan on Wednesday, February 27th that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the apparel and home fashions retailer to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.92 annualized dividend and a dividend yield of 1.66%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s dividend payout ratio (DPR) is currently 36.97%.
TJX has been the subject of several research reports. Loop Capital upped their price target on shares of TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, February 27th. MKM Partners increased their target price 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. Telsey Advisory Group reissued an “outperform” rating and issued a $62.00 target price (up from $56.00) on shares of TJX Companies in a report on Thursday, February 28th. Credit Suisse Group increased their target price on shares of TJX Companies from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Finally, Cfra raised shares of TJX Companies to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.34.
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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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