TJX Companies Inc (TJX) Position Trimmed by Citizens Financial Group Inc RI
Citizens Financial Group Inc RI cut its holdings in shares of TJX Companies Inc (NYSE:TJX) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,733 shares of the apparel and home fashions retailer’s stock after selling 1,177 shares during the quarter. Citizens Financial Group Inc RI’s holdings in TJX Companies were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tyvor Capital LLC acquired a new stake in TJX Companies during the fourth quarter worth about $22,370,000. M Holdings Securities Inc. increased its stake in TJX Companies by 92.6% during the fourth quarter. M Holdings Securities Inc. now owns 5,035 shares of the apparel and home fashions retailer’s stock worth $225,000 after acquiring an additional 2,421 shares during the last quarter. NEXT Financial Group Inc increased its stake in TJX Companies by 749.4% during the fourth quarter. NEXT Financial Group Inc now owns 2,939 shares of the apparel and home fashions retailer’s stock worth $131,000 after acquiring an additional 2,593 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in TJX Companies by 98.7% during the fourth quarter. Cetera Advisor Networks LLC now owns 18,302 shares of the apparel and home fashions retailer’s stock worth $814,000 after acquiring an additional 9,093 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in TJX Companies by 100.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,944,001 shares of the apparel and home fashions retailer’s stock worth $310,675,000 after acquiring an additional 3,481,378 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.
In other TJX Companies news, CFO Scott Goldenberg sold 37,248 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $53.90, for a total transaction of $2,007,667.20. Following the completion of the sale, the chief financial officer now owns 195,712 shares in the company, valued at approximately $10,548,876.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard Sherr sold 1,480 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $51.35, for a total value of $75,998.00. Following the sale, the executive vice president now owns 117,228 shares of the company’s stock, valued at approximately $6,019,657.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,978 shares of company stock valued at $5,957,230. Insiders own 0.18% of the company’s stock.
TJX Companies (NYSE:TJX) last posted its earnings results on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. TJX Companies had a return on equity of 57.47% and a net margin of 7.69%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.21 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts predict that TJX Companies Inc will post 2.62 earnings per share for the current year.
TJX Companies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 27th that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the apparel and home fashions retailer to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s dividend payout ratio (DPR) is 43.60%.
Several brokerages have commented on TJX. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, May 24th. MKM Partners upped their price target on TJX Companies to $62.00 in a research note on Thursday, May 23rd. Credit Suisse Group upped their price target on TJX Companies from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Nomura upped their price target on TJX Companies from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Robert W. Baird began coverage on TJX Companies in a research note on Monday, May 13th. They set an “outperform” rating and a $63.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $55.90.
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TJX Companies 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.
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