Bank of New York Mellon Corp trimmed its holdings in The TJX Companies, Inc. (NYSE:TJX – Free Report) by 8.8% in the 1st quarter, HoldingsChannel reports. The firm owned 12,924,983 shares of the apparel and home fashions retailer’s stock after selling 1,239,845 shares during the quarter. Bank of New York Mellon Corp’s holdings in TJX Companies were worth $2,064,120,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of TJX Companies during the fourth quarter worth $2,211,975,000. Diamant Asset Management Inc. grew its stake in TJX Companies by 15,998.0% during the first quarter. Diamant Asset Management Inc. now owns 3,779,983 shares of the apparel and home fashions retailer’s stock valued at $603,663,000 after acquiring an additional 3,756,502 shares in the last quarter. Corient Private Wealth LLC increased its holdings in TJX Companies by 120.7% in the 2nd quarter. Corient Private Wealth LLC now owns 5,016,792 shares of the apparel and home fashions retailer’s stock valued at $620,406,000 after acquiring an additional 2,743,676 shares during the last quarter. Amundi increased its holdings in TJX Companies by 22.1% in the 3rd quarter. Amundi now owns 9,725,542 shares of the apparel and home fashions retailer’s stock valued at $1,391,822,000 after acquiring an additional 1,761,281 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in TJX Companies by 57.3% in the 4th quarter. AQR Capital Management LLC now owns 4,814,467 shares of the apparel and home fashions retailer’s stock worth $739,550,000 after purchasing an additional 1,753,155 shares in the last quarter. Institutional investors own 91.09% of the company’s stock.
TJX Companies Trading Up 0.4%
TJX opened at $151.00 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.54 and a current ratio of 1.14. The stock’s 50 day moving average price is $156.51 and its 200-day moving average price is $156.56. The TJX Companies, Inc. has a one year low of $119.84 and a one year high of $170.00. The stock has a market cap of $166.81 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 3.26 and a beta of 0.63.
TJX Companies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 13th. TJX Companies’s dividend payout ratio (DPR) is 37.28%.
Insider Activity at TJX Companies
In other news, CEO Ernie Herrman sold 10,002 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $160.68, for a total value of $1,607,121.36. Following the transaction, the chief executive officer directly owned 514,848 shares in the company, valued at approximately $82,725,776.64. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jackwyn Nemerov sold 957 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $168.59, for a total transaction of $161,340.63. Following the completion of the transaction, the director owned 802 shares in the company, valued at approximately $135,209.18. The trade was a 54.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 130,367 shares of company stock valued at $20,959,476 over the last ninety days. Company insiders own 0.15% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Barclays restated an “overweight” rating and set a $190.00 price objective (up from $183.00) on shares of TJX Companies in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their target price on TJX Companies from $173.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Evercore reissued an “outperform” rating and set a $175.00 price target on shares of TJX Companies in a research note on Thursday, May 21st. Wall Street Zen cut TJX Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $160.00 price objective (up from $155.00) on shares of TJX Companies in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, TJX Companies presently has an average rating of “Buy” and an average price target of $176.89.
Get Our Latest Stock Analysis on TJX
About TJX Companies
TJX Companies, Inc is a leading off-price retailer of apparel, footwear, home fashions and other consumer goods. The company operates multiple retail concepts that offer discounted brand-name and designer merchandise, including well-known banners such as T.J. Maxx and Marshalls in the United States, HomeGoods for home furnishings, TK Maxx in parts of Europe, and Winners and Homesense in Canada. Merchandise categories span women’s, men’s and children’s apparel, accessories, beauty, home décor, kitchenware and small furniture, with frequent changes in assortment that create a “treasure-hunt” shopping experience for consumers.
The company’s business model centers on opportunistic buying, purchasing excess, irregular or out-of-season inventory from manufacturers, department stores and other suppliers, and passing savings to customers through lower prices.
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