Nachman Norwood & Parrott Inc Takes Position in TJX Companies Inc (NYSE:TJX)

Nachman Norwood & Parrott Inc purchased a new stake in TJX Companies Inc (NYSE:TJX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,452 shares of the apparel and home fashions retailer’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Nalls Sherbakoff Group LLC bought a new position in TJX Companies during the 4th quarter worth approximately $25,000. Adirondack Trust Co. raised its position in shares of TJX Companies by 100.0% during the 4th quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock worth $26,000 after purchasing an additional 290 shares during the period. Westside Investment Management Inc. raised its position in shares of TJX Companies by 100.0% during the 4th quarter. Westside Investment Management Inc. now owns 600 shares of the apparel and home fashions retailer’s stock worth $27,000 after purchasing an additional 300 shares during the period. Edge Wealth Management LLC raised its position in shares of TJX Companies by 100.0% during the 4th quarter. Edge Wealth Management LLC now owns 650 shares of the apparel and home fashions retailer’s stock worth $29,000 after purchasing an additional 325 shares during the period. Finally, Sterling Investment Advisors Ltd. raised its position in shares of TJX Companies by 100.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 660 shares of the apparel and home fashions retailer’s stock worth $29,000 after purchasing an additional 330 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, May 1st. Argus increased their price target on TJX Companies to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Loop Capital increased their price target on 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 increased their price target on TJX Companies from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. Finally, Morgan Stanley increased their price target on TJX Companies from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.58.

TJX traded down $0.17 during trading hours on Thursday, hitting $53.84. The company’s stock had a trading volume of 4,613,806 shares, compared to its average volume of 5,841,820. TJX Companies Inc has a fifty-two week low of $41.15 and a fifty-two week high of $56.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.53 and a quick ratio of 0.70. The stock has a market cap of $65.61 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.90 and a beta of 0.66.

TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.09). The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.01 billion. TJX Companies had a net margin of 7.85% and a return on equity of 57.42%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. Equities analysts anticipate that TJX Companies Inc will post 2.61 EPS for the current 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 paid a dividend of $0.23 per share. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is presently 36.97%.

TJX Companies announced that its board has authorized a stock 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 generally an indication that the company’s leadership believes its stock is undervalued.

In other TJX Companies news, EVP Kenneth Canestrari sold 25,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $54.97, for a total transaction of $1,374,250.00. Following the completion of the transaction, the executive vice president now directly owns 134,675 shares of the company’s stock, valued at approximately $7,403,084.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane sold 1,000 shares of the firm’s 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 109,498 shares of company stock valued at $5,933,022. 0.18% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Nachman Norwood & Parrott Inc Takes Position in TJX Companies Inc (NYSE:TJX)” was originally published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.baseballdailydigest.com/news/2019/05/09/nachman-norwood-parrott-inc-takes-position-in-tjx-companies-inc-tjx.html.

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.

Featured Story: How to Trade Using Analysts Ratings

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

Receive News & Ratings for TJX Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TJX Companies and related companies with MarketBeat.com's FREE daily email newsletter.