M&R Capital Management Inc. Decreases Stock Position in The TJX Companies, Inc. (NYSE:TJX)

M&R Capital Management Inc. decreased its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 20.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,366 shares of the apparel and home fashions retailer’s stock after selling 2,957 shares during the quarter. M&R Capital Management Inc.’s holdings in TJX Companies were worth $1,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TJX. Norges Bank purchased a new stake in shares of TJX Companies in the 4th quarter valued at approximately $1,193,438,000. Schroder Investment Management Group raised its stake in TJX Companies by 350.9% in the third quarter. Schroder Investment Management Group now owns 2,078,244 shares of the apparel and home fashions retailer’s stock valued at $184,714,000 after buying an additional 1,617,367 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in TJX Companies by 105.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,378,802 shares of the apparel and home fashions retailer’s stock worth $211,428,000 after buying an additional 1,223,303 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of TJX Companies by 23.2% in the 4th quarter. Nordea Investment Management AB now owns 5,881,507 shares of the apparel and home fashions retailer’s stock valued at $554,156,000 after acquiring an additional 1,107,937 shares during the last quarter. Finally, Canoe Financial LP raised its position in shares of TJX Companies by 22,145.7% during the 4th quarter. Canoe Financial LP now owns 1,112,287 shares of the apparel and home fashions retailer’s stock worth $104,344,000 after acquiring an additional 1,107,287 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

Insider Transactions at TJX Companies

In other TJX Companies news, EVP Louise Greenlees sold 8,171 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $101.73, for a total value of $831,235.83. Following the completion of the transaction, the executive vice president now directly owns 49,570 shares of the company’s stock, valued at $5,042,756.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Kenneth Canestrari sold 20,332 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total transaction of $2,033,200.00. Following the transaction, the executive vice president now directly owns 110,893 shares in the company, valued at approximately $11,089,300. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $101.73, for a total transaction of $831,235.83. Following the transaction, the executive vice president now directly owns 49,570 shares of the company’s stock, valued at approximately $5,042,756.10. The disclosure for this sale can be found here. Insiders have sold a total of 70,003 shares of company stock valued at $7,040,541 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

TJX Companies Stock Performance

Shares of NYSE:TJX traded up $0.47 during midday trading on Tuesday, hitting $110.69. The stock had a trading volume of 1,743,073 shares, compared to its average volume of 5,473,178. The TJX Companies, Inc. has a 1 year low of $80.15 and a 1 year high of $110.71. The company has a current ratio of 1.23, a quick ratio of 0.61 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $99.56 and a two-hundred day moving average price of $96.97. The company has a market capitalization of $125.10 billion, a PE ratio of 27.35, a P/E/G ratio of 2.90 and a beta of 0.87.

TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The company had revenue of $12.48 billion for the quarter, compared to analyst estimates of $12.48 billion. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. As a group, equities analysts predict that The TJX Companies, Inc. will post 4.09 earnings per share for the current fiscal year.

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

TJX Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.36%. TJX Companies’s payout ratio is currently 37.22%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BMO Capital Markets increased their price target on shares of TJX Companies from $110.00 to $116.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. TD Cowen increased their target price on shares of TJX Companies from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Robert W. Baird boosted their price target on shares of TJX Companies from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Barclays raised their price objective on TJX Companies from $109.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Evercore ISI set a $113.00 target price on TJX Companies in a report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.37.

TJX Companies Company 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.