Herndon Capital Management LLC Sells 732,357 Shares of The TJX Cos. (TJX)
Herndon Capital Management LLC lowered its position in The TJX Cos. (NYSE:TJX) by 34.3% during the second quarter, Holdings Channel reports. The firm owned 1,404,588 shares of the apparel and home fashions retailer’s stock after selling 732,357 shares during the period. The TJX Cos. comprises approximately 4.1% of Herndon Capital Management LLC’s holdings, making the stock its 2nd largest position. Herndon Capital Management LLC’s holdings in The TJX Cos. were worth $108,475,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of The TJX Cos. by 3.2% in the second quarter. Quadrant Capital Group LLC now owns 2,686 shares of the apparel and home fashions retailer’s stock worth $198,000 after buying an additional 83 shares during the period. Diker Management LLC bought a new position in The TJX Cos. during the first quarter worth $213,000. Douglas Lane & Associates LLC bought a new position in The TJX Cos. during the second quarter worth $218,000. Atria Investments LLC bought a new position in The TJX Cos. during the second quarter worth $220,000. Finally, M&R Capital Management Inc. bought a new position in The TJX Cos. during the first quarter worth $224,000. 88.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The TJX Cos. (NYSE:TJX) traded down 0.22% on Tuesday, reaching $73.16. 2,089,759 shares of the company were exchanged. The TJX Cos. has a 1-year low of $63.53 and a 1-year high of $83.64. The company has a 50-day moving average price of $75.36 and a 200 day moving average price of $77.06. The stock has a market capitalization of $48.04 billion, a PE ratio of 21.24 and a beta of 0.65.
The TJX Cos. (NYSE:TJX) last announced its earnings results on Tuesday, August 16th. The apparel and home fashions retailer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The TJX Cos. had a net margin of 7.23% and a return on equity of 52.69%. The firm earned $7.88 billion during the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts forecast that The TJX Cos. will post $3.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Tuesday, November 8th. The TJX Cos.’s dividend payout ratio is currently 30.15%.
A number of equities analysts have weighed in on TJX shares. Nomura restated a “buy” rating and set a $85.00 price objective on shares of The TJX Cos. in a research report on Wednesday, August 17th. Wells Fargo & Co. restated a “buy” rating on shares of The TJX Cos. in a research report on Monday, June 27th. Miller Tabak started coverage on shares of The TJX Cos. in a research report on Friday, June 24th. They set a “buy” rating and a $91.00 price objective for the company. Zacks Investment Research upgraded shares of The TJX Cos. from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $92.00 price objective on shares of The TJX Cos. in a research report on Monday, August 1st. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $83.51.
About The TJX Cos.
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States are collectively the off-price retailer in the United States with a total of approximately 2,163 stores.
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