Cribstone Capital Management LLC reduced its holdings in shares of TJX Companies Inc (NYSE:TJX) by 57.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 894 shares of the apparel and home fashions retailer’s stock after selling 1,210 shares during the period. Cribstone Capital Management LLC’s holdings in TJX Companies were worth $48,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Pflug Koory LLC bought a new stake in TJX Companies during the 1st quarter valued at $83,000. Nachman Norwood & Parrott Inc bought a new stake in TJX Companies during the 1st quarter valued at $237,000. Wendell David Associates Inc. raised its position in TJX Companies by 1.9% during the 1st quarter. Wendell David Associates Inc. now owns 429,914 shares of the apparel and home fashions retailer’s stock valued at $22,876,000 after purchasing an additional 7,948 shares in the last quarter. Randolph Co Inc bought a new stake in TJX Companies during the 1st quarter valued at $9,613,000. Finally, Ferguson Wellman Capital Management Inc. raised its position in TJX Companies by 18.4% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 496,180 shares of the apparel and home fashions retailer’s stock valued at $26,401,000 after purchasing an additional 77,077 shares in the last quarter. 91.26% of the stock is owned by hedge funds and other institutional investors.
TJX has been the subject of a number of research analyst reports. Argus lifted their target price on TJX Companies to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Zacks Investment Research raised TJX Companies from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Monday, January 28th. Cfra raised TJX Companies to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, February 28th. MKM Partners lifted their target price on TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 28th. Finally, Loop Capital lifted their target price on TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.34.
In related news, Director Amy B. Lane sold 1,625 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $53.00, for a total value of $86,125.00. Following the completion of the transaction, the director now owns 29,467 shares of the company’s stock, valued at approximately $1,561,751. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott Goldenberg sold 37,248 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $53.90, for a total value of $2,007,667.20. Following the transaction, the chief financial officer now directly owns 195,712 shares of the company’s stock, valued at approximately $10,548,876.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,498 shares of company stock worth $4,558,772. Company insiders own 0.20% of the company’s stock.
Shares of TJX stock opened at $54.49 on Wednesday. TJX Companies Inc has a 1-year low of $40.65 and a 1-year high of $56.64. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. The firm has a market cap of $65.88 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 1.90 and a beta of 0.66.
TJX Companies (NYSE:TJX) last announced its earnings results on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.09). TJX Companies had a return on equity of 57.42% and a net margin of 7.85%. The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that TJX Companies Inc will post 2.61 earnings per share for the current fiscal year.
The firm also recently announced 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 annualized dividend and a yield of 1.69%. This is an increase from TJX Companies’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 15th. TJX Companies’s payout ratio is 36.97%.
TJX Companies declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 27th that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
TJX Companies Company 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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.
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