State Board of Administration of Florida Retirement System cut its stake in TJX Companies Inc (NYSE:TJX) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,688,236 shares of the apparel and home fashions retailer’s stock after selling 9,906 shares during the period. State Board of Administration of Florida Retirement System’s holdings in TJX Companies were worth $89,831,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of TJX Companies during the first quarter valued at $25,000. Financial Gravity Wealth Inc. acquired a new position in shares of TJX Companies during the first quarter valued at $30,000. Nalls Sherbakoff Group LLC bought a new position in TJX Companies during the fourth quarter valued at about $25,000. Adirondack Trust Co. boosted its stake in TJX Companies by 100.0% during the fourth quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock valued at $26,000 after buying an additional 290 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in TJX Companies by 100.0% during 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 buying an additional 300 shares in the last quarter. 91.42% of the stock is currently owned by hedge funds and other institutional investors.
TJX has been the subject of several research reports. Loop Capital raised their target price on TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, February 27th. MKM Partners raised their target price on TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $56.00) on shares of TJX Companies in a research note on Thursday, February 28th. Credit Suisse Group raised their target price on TJX Companies from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. Finally, Cfra raised TJX Companies to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $55.87.
TJX Companies (NYSE:TJX) last released its quarterly earnings results on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.09). TJX Companies had a net margin of 7.85% and a return on equity of 57.42%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that TJX Companies Inc will post 2.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a $0.23 dividend. 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.73%. TJX Companies’s dividend payout ratio (DPR) is 43.60%.
TJX Companies announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 27th that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In related 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 value of $1,374,250.00. Following the completion of the transaction, the executive vice president now owns 134,675 shares in the company, valued at approximately $7,403,084.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Sherr sold 43,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $54.08, for a total value of $2,325,440.00. Following the completion of the sale, the executive vice president now directly owns 118,708 shares of the company’s stock, valued at $6,419,728.64. The disclosure for this sale can be found here. Insiders sold a total of 109,498 shares of company stock valued at $5,933,022 in the last quarter. 0.18% of the stock is currently owned by corporate 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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