Alta Capital Management LLC decreased its stake in shares of TJX Companies Inc (NYSE:TJX) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 931,501 shares of the apparel and home fashions retailer’s stock after selling 12,771 shares during the period. TJX Companies comprises about 2.9% of Alta Capital Management LLC’s holdings, making the stock its 12th largest position. Alta Capital Management LLC’s holdings in TJX Companies were worth $49,565,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Nalls Sherbakoff Group LLC purchased a new position in TJX Companies in the fourth quarter worth $25,000. Stone House Investment Management LLC purchased a new position in TJX Companies in the first quarter worth $25,000. Adirondack Trust Co. boosted its position in TJX Companies by 100.0% in the fourth quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock worth $26,000 after purchasing an additional 290 shares during the last quarter. Westside Investment Management Inc. boosted its position in TJX Companies by 100.0% in the fourth quarter. Westside Investment Management Inc. now owns 600 shares of the apparel and home fashions retailer’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Finally, Edge Wealth Management LLC boosted its position in TJX Companies by 100.0% in the fourth quarter. Edge Wealth Management LLC now owns 650 shares of the apparel and home fashions retailer’s stock worth $29,000 after purchasing an additional 325 shares during the last quarter. 91.22% of the stock is currently owned by institutional investors.
Several analysts have issued reports on TJX shares. Loop Capital boosted their target price on TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, February 27th. MKM Partners boosted their target price on TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Telsey Advisory Group restated an “outperform” rating and issued a $62.00 target price (up from $56.00) on shares of TJX Companies in a research note on Thursday, February 28th. Credit Suisse Group boosted their target price on TJX Companies from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. Finally, Cfra upgraded TJX Companies to a “buy” rating and set a $60.00 target price on the stock in a research note on Thursday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. TJX Companies presently has a consensus rating of “Buy” and an average target price of $55.34.
TJX Companies (NYSE:TJX) last released its quarterly earnings data on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.09). TJX Companies had a net margin of 7.85% and a return on equity of 57.42%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that TJX Companies Inc will post 2.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s payout ratio is presently 36.97%.
TJX Companies declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 27th that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the apparel and home fashions retailer to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, CFO Scott Goldenberg sold 37,248 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 195,712 shares in the company, valued at approximately $10,548,876.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Sherr sold 43,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.08, for a total value of $2,325,440.00. Following the sale, the executive vice president now owns 118,708 shares in the company, valued at $6,419,728.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,498 shares of company stock worth $5,933,022. 0.20% of the stock is currently owned by corporate insiders.
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About TJX Companies
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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