Paradigm Asset Management Co. LLC decreased its position in shares of TJX Companies (NYSE:TJX) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,210 shares of the apparel and home fashions retailer’s stock after selling 800 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in TJX Companies were worth $1,077,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its holdings in shares of TJX Companies by 5.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 117,337 shares of the apparel and home fashions retailer’s stock valued at $8,972,000 after acquiring an additional 6,417 shares during the period. LPL Financial LLC lifted its holdings in TJX Companies by 12.9% in the fourth quarter. LPL Financial LLC now owns 74,234 shares of the apparel and home fashions retailer’s stock worth $5,676,000 after purchasing an additional 8,506 shares during the period. Norinchukin Bank The lifted its holdings in TJX Companies by 7.4% in the fourth quarter. Norinchukin Bank The now owns 50,873 shares of the apparel and home fashions retailer’s stock worth $3,890,000 after purchasing an additional 3,514 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in TJX Companies by 137.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 10,344 shares of the apparel and home fashions retailer’s stock worth $791,000 after purchasing an additional 5,983 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in TJX Companies in the fourth quarter worth about $6,459,000. 91.64% of the stock is owned by institutional investors.
TJX Companies opened at $84.07 on Monday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.84 and a current ratio of 1.66. The stock has a market cap of $52.71 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.69 and a beta of 0.66. TJX Companies has a 1 year low of $66.44 and a 1 year high of $87.24.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 17th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, May 16th. This is an increase from TJX Companies’s previous quarterly dividend of $0.31. TJX Companies’s payout ratio is presently 30.94%.
TJX Companies announced that its board has initiated a stock buyback program on Wednesday, February 28th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
TJX has been the subject of several research analyst reports. Zacks Investment Research raised shares of TJX Companies from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a report on Friday, February 16th. Morgan Stanley upped their price objective on shares of TJX Companies from $86.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. Buckingham Research reaffirmed a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of TJX Companies in a report on Thursday, March 1st. Royal Bank of Canada set a $91.00 price objective on shares of TJX Companies and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, Nomura set a $87.00 price target on shares of TJX Companies and gave the company a “buy” rating in a report on Wednesday, February 28th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $87.75.
In other TJX Companies news, Chairman Carol Meyrowitz sold 43,020 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $83.77, for a total transaction of $3,603,785.40. Following the sale, the chairman now owns 294,098 shares in the company, valued at approximately $24,636,589.46. The transaction was disclosed in a filing 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 dated Thursday, March 1st. The stock was sold at an average price of $82.81, for a total value of $82,810.00. Following the sale, the director now owns 15,998 shares in the company, valued at approximately $1,324,794.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,199 shares of company stock worth $9,532,558. Corporate insiders own 0.22% of the company’s stock.
TJX Companies Company 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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.
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