Comerica Bank decreased its stake in shares of TJX Companies Inc (NYSE:TJX) by 25.2% during the first quarter, HoldingsChannel reports. The firm owned 691,020 shares of the apparel and home fashions retailer’s stock after selling 232,280 shares during the period. Comerica Bank’s holdings in TJX Companies were worth $37,619,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Morgan Stanley increased its stake in TJX Companies by 7.1% during the 3rd quarter. Morgan Stanley now owns 3,380,174 shares of the apparel and home fashions retailer’s stock worth $378,648,000 after buying an additional 224,439 shares during the period. Vanguard Group Inc increased its stake in TJX Companies by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 49,232,312 shares of the apparel and home fashions retailer’s stock worth $5,515,004,000 after buying an additional 593,647 shares during the period. Pennsylvania Trust Co increased its stake in TJX Companies by 91.0% during the 4th quarter. Pennsylvania Trust Co now owns 34,598 shares of the apparel and home fashions retailer’s stock worth $1,547,000 after buying an additional 16,484 shares during the period. DNB Asset Management AS increased its stake in TJX Companies by 88.1% during the 4th quarter. DNB Asset Management AS now owns 168,618 shares of the apparel and home fashions retailer’s stock worth $7,544,000 after buying an additional 78,957 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in TJX Companies during the 4th quarter worth $251,000. 91.42% of the stock is currently owned by institutional investors and hedge funds.
NYSE TJX opened at $52.58 on Thursday. TJX Companies Inc has a one year low of $41.49 and a one year high of $56.64. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $63.75 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.84 and a beta of 0.66.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.75%. TJX Companies’s payout ratio is 36.97%.
TJX Companies declared that its board has initiated a share repurchase plan on Wednesday, February 27th that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the apparel and home fashions retailer to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several research firms recently issued reports on TJX. Zacks Investment Research raised shares of TJX Companies from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, May 1st. Argus lifted their price target on shares of TJX Companies to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird began coverage on shares of TJX Companies in a report on Monday. They set an “outperform” rating and a $63.00 price objective for the company. Loop Capital raised their price objective on shares of TJX Companies from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday, February 27th. Finally, MKM Partners raised their price objective on shares of TJX Companies from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $55.87.
In other news, Director Amy B. Lane sold 1,000 shares of TJX Companies stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.79, for a total value of $51,790.00. Following the completion of the transaction, the director now directly owns 31,092 shares of the company’s stock, valued at approximately $1,610,254.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Canestrari sold 25,000 shares of TJX Companies stock in a transaction dated Monday, April 22nd. The shares were 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 $7,403,084.75. 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 over the last ninety days. Company insiders own 0.18% of the company’s stock.
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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, 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.
Read More: Price to Earnings Ratio (PE)
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