Forbes J M & Co. LLP Cuts Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Forbes J M & Co. LLP trimmed its holdings in shares of The TJX Companies, Inc. (NYSE:TJX) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 118,860 shares of the apparel and home fashions retailer’s stock after selling 551 shares during the period. TJX Companies comprises about 1.3% of Forbes J M & Co. LLP’s portfolio, making the stock its 26th largest holding. Forbes J M & Co. LLP’s holdings in TJX Companies were worth $12,055,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. raised its stake in shares of TJX Companies by 3.7% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 603,482 shares of the apparel and home fashions retailer’s stock valued at $56,613,000 after acquiring an additional 21,767 shares during the last quarter. Savoir Faire Capital Management L.P. bought a new position in shares of TJX Companies during the third quarter valued at about $3,197,000. Gateway Investment Advisers LLC raised its stake in shares of TJX Companies by 42.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 19,108 shares of the apparel and home fashions retailer’s stock valued at $1,793,000 after acquiring an additional 5,737 shares during the last quarter. Cape Cod Five Cents Savings Bank raised its stake in shares of TJX Companies by 109.1% during the third quarter. Cape Cod Five Cents Savings Bank now owns 148,954 shares of the apparel and home fashions retailer’s stock valued at $13,239,000 after acquiring an additional 77,711 shares during the last quarter. Finally, Options Solutions LLC bought a new position in shares of TJX Companies during the fourth quarter valued at about $726,000. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TJX Companies

In other TJX Companies news, Director Amy B. Lane sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $102.07, for a total value of $153,105.00. Following the transaction, the director now directly owns 23,470 shares in the company, valued at approximately $2,395,582.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Amy B. Lane sold 1,500 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $102.07, for a total transaction of $153,105.00. Following the transaction, the director now directly owns 23,470 shares in the company, valued at approximately $2,395,582.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $102.17, for a total transaction of $2,043,400.00. Following the transaction, the chief executive officer now owns 571,148 shares in the company, valued at $58,354,191.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,003 shares of company stock valued at $5,060,941. Insiders own 0.13% of the company’s stock.

TJX Companies Stock Up 0.6 %

NYSE TJX traded up $0.63 on Friday, hitting $111.01. 9,238,040 shares of the stock were exchanged, compared to its average volume of 6,356,010. The company has a quick ratio of 0.61, a current ratio of 1.23 and a debt-to-equity ratio of 0.38. The TJX Companies, Inc. has a fifty-two week low of $80.94 and a fifty-two week high of $111.34. The company has a market cap of $125.46 billion, a PE ratio of 27.55, a PEG ratio of 2.95 and a beta of 0.87. The company has a 50-day moving average price of $100.73 and a 200-day moving average price of $97.52.

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

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

TJX Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.375 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.50 dividend on an annualized basis and a yield of 1.35%. TJX Companies’s payout ratio is 37.22%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $114.00 price target on shares of TJX Companies in a report on Tuesday, May 21st. The Goldman Sachs Group upgraded shares of TJX Companies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $110.00 in a report on Thursday, April 25th. UBS Group raised their target price on shares of TJX Companies from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Evercore ISI set a $113.00 target price on shares of TJX Companies in a report on Tuesday, May 21st. Finally, TD Cowen raised their target price on shares of TJX Companies from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.37.

TJX Companies Profile

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.