Intact Investment Management Inc. Sells 1,200 Shares of The TJX Companies, Inc. (NYSE:TJX)

Intact Investment Management Inc. lessened its position in The TJX Companies, Inc. (NYSE:TJX) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,400 shares of the apparel and home fashions retailer’s stock after selling 1,200 shares during the quarter. Intact Investment Management Inc.’s holdings in TJX Companies were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TJX. Anchor Investment Management LLC bought a new position in TJX Companies in the fourth quarter valued at $28,000. BKM Wealth Management LLC purchased a new stake in TJX Companies during the fourth quarter valued at about $30,000. Larson Financial Group LLC boosted its position in TJX Companies by 76.0% during the third quarter. Larson Financial Group LLC now owns 389 shares of the apparel and home fashions retailer’s stock valued at $35,000 after buying an additional 168 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in TJX Companies during the fourth quarter valued at about $40,000. Finally, Steward Financial Group LLC boosted its position in TJX Companies by 56.5% during the third quarter. Steward Financial Group LLC now owns 493 shares of the apparel and home fashions retailer’s stock valued at $43,000 after buying an additional 178 shares during the period. Institutional investors own 91.09% of the company’s stock.

TJX Companies Price Performance

Shares of NYSE TJX opened at $96.36 on Monday. The TJX Companies, Inc. has a fifty-two week low of $75.65 and a fifty-two week high of $102.84. The company has a 50 day simple moving average of $97.33 and a two-hundred day simple moving average of $93.94. The company has a market capitalization of $109.17 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21.

TJX Companies (NYSE:TJX) last announced its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Analysts expect that The TJX Companies, Inc. will post 4.07 EPS for the current fiscal year.

TJX Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.56%. This is an increase from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio (DPR) is 34.46%.

TJX Companies announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the apparel and home fashions retailer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on TJX shares. UBS Group upped their price target on shares of TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $105.00 target price on shares of TJX Companies in a report on Wednesday, February 28th. Redburn Atlantic lowered shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a report on Monday, February 5th. BMO Capital Markets increased their target price on shares of TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group upgraded shares of TJX Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $110.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, TJX Companies has a consensus rating of “Moderate Buy” and an average target price of $102.65.

Insider Activity at TJX Companies

In related news, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the sale, the chief executive officer now owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the transaction, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the transaction, the chief executive officer now owns 515,801 shares in the company, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

About TJX Companies

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.