Psagot Investment House Ltd. raised its holdings in TJX Companies Inc (NYSE:TJX) by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,900 shares of the apparel and home fashions retailer’s stock after purchasing an additional 17,450 shares during the quarter. Psagot Investment House Ltd.’s holdings in TJX Companies were worth $3,396,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of TJX Companies by 113.3% during the fourth quarter. BlackRock Inc. now owns 90,260,028 shares of the apparel and home fashions retailer’s stock worth $4,038,232,000 after acquiring an additional 47,939,993 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of TJX Companies by 13,963.2% during the fourth 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 acquiring an additional 25,990,744 shares during the period. Bank of New York Mellon Corp increased its stake in shares of TJX Companies by 77.9% during the fourth 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 acquiring an additional 14,469,980 shares during the period. Geode Capital Management LLC grew its position in TJX Companies by 115.8% during the fourth 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 grew its position in TJX Companies by 110.6% during the fourth 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 91.22% of the company’s stock.
Shares of TJX Companies stock traded down $0.02 during trading hours on Friday, hitting $55.06. The company’s stock had a trading volume of 2,656,975 shares, compared to its average volume of 6,000,022. The firm has a market capitalization of $67.03 billion, a P/E ratio of 26.09, a PEG ratio of 1.94 and a beta of 0.66. TJX Companies Inc has a 1-year low of $40.65 and a 1-year high of $56.64. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.44.
TJX Companies declared that its board has initiated a share buyback program on Wednesday, February 27th that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the apparel and home fashions retailer to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.67%. 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 (DPR) is presently 36.97%.
In other TJX Companies news, CFO Scott Goldenberg sold 37,248 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 195,712 shares in the company, valued at approximately $10,548,876.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Sherr sold 43,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.08, for a total transaction of $2,325,440.00. Following the transaction, the executive vice president now owns 118,708 shares in the company, valued at $6,419,728.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,498 shares of company stock valued at $5,933,022. Company insiders own 0.20% of the company’s stock.
TJX has been the topic of several recent analyst reports. Loop Capital upped their target price on shares of TJX Companies from $47.00 to $50.00 and gave the stock a “hold” rating in a research 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 company a “buy” rating in a report on Thursday, February 28th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $56.00) on shares of TJX Companies in a report on Thursday, February 28th. Credit Suisse Group upped their price target on shares of TJX Companies from $50.00 to $55.00 and gave the company 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 price target on the stock in a report on Thursday, February 28th. One equities research 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 presently has a consensus rating of “Buy” and an average price target of $55.34.
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.
Further Reading: Golden Cross
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