Congress Asset Management Co. MA Increases Holdings in The TJX Companies, Inc. (NYSE:TJX)

Congress Asset Management Co. MA increased its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 3,572.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 844,075 shares of the apparel and home fashions retailer’s stock after buying an additional 821,091 shares during the quarter. Congress Asset Management Co. MA owned about 0.07% of TJX Companies worth $79,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new stake in TJX Companies in the fourth quarter valued at $27,000. Anchor Investment Management LLC purchased a new stake in TJX Companies in the fourth quarter valued at $28,000. BKM Wealth Management LLC purchased a new stake in TJX Companies in the fourth quarter valued at $30,000. Sachetta LLC purchased a new stake in TJX Companies in the fourth quarter valued at $38,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of TJX Companies in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Stock Up 0.2 %

Shares of NYSE:TJX traded up $0.24 on Friday, hitting $108.50. 3,698,667 shares of the company’s stock were exchanged, compared to its average volume of 7,447,975. The firm’s 50-day moving average is $99.28 and its 200 day moving average is $96.75. The company has a market capitalization of $122.62 billion, a PE ratio of 26.92, a P/E/G ratio of 2.90 and a beta of 0.87. The TJX Companies, Inc. has a 1-year low of $79.86 and a 1-year high of $108.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.61 and a current ratio of 1.23.

TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The business had revenue of $12.48 billion during the quarter, compared to the consensus estimate of $12.48 billion. During the same period in the previous year, the business earned $0.76 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts predict that The TJX Companies, Inc. will post 4.09 EPS for the current year.

TJX Companies declared that its board has initiated a stock buyback program on Wednesday, February 28th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

TJX Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, August 15th. TJX Companies’s payout ratio is currently 37.22%.

Insider Activity

In other news, Director Amy B. Lane sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $102.07, for a total value of $153,105.00. Following the completion of the sale, the director now directly owns 23,470 shares of the company’s stock, valued at approximately $2,395,582.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TJX Companies news, Director Amy B. Lane sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $102.07, for a total transaction of $153,105.00. Following the completion of the sale, the director now directly owns 23,470 shares of the company’s stock, valued at approximately $2,395,582.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Louise Greenlees sold 8,171 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $101.73, for a total value of $831,235.83. Following the sale, the executive vice president now directly owns 49,570 shares of the company’s stock, valued at $5,042,756.10. The disclosure for this sale can be found here. In the last three months, insiders sold 70,003 shares of company stock valued at $7,040,541. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

TJX has been the subject of a number of research reports. Telsey Advisory Group lifted their price objective on TJX Companies from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets lifted their price objective on TJX Companies from $110.00 to $116.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Deutsche Bank Aktiengesellschaft set a $114.00 price objective on TJX Companies in a research note on Tuesday, May 21st. TD Cowen lifted their price objective on TJX Companies from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.37.

About TJX Companies

The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. 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, and gourmet food departments; jewelry and accessories; and other merchandise.