Victory Capital Management Inc. increases its equity position in The TJX Companies, Inc. (NYSE:TJX)


Victory Capital Management Inc. increased its stake in The TJX Companies, Inc. (NYSE: TJXGet a rating) by 11.0% in the first quarter, HoldingsChannel reports. The institutional investor held 434,705 shares of the clothing and home fashion retailer after acquiring an additional 43,193 shares during the quarter. Victory Capital Management Inc.’s holdings in TJX Companies were worth $26,639,000 as of its last SEC filing date.

A number of other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. OZK Bank increased its stake in TJX Companies by 1.4% in the first quarter. Bank OZK now owns 46,635 shares of the clothing and home fashion retailer valued at $2,825,000 after buying an additional 666 shares in the last quarter. SlateStone Wealth LLC increased its stake in TJX Companies by 13.6% in the first quarter. SlateStone Wealth LLC now owns 47,854 shares of the apparel and home fashion retailer valued at $2,899,000 after buying an additional 5,735 shares in the last quarter. Banque Pictet & Cie SA increased its stake in TJX Companies by 3.0% in the first quarter. Banque Pictet & Cie SA now owns 148,860 shares of the clothing and home fashion retailer valued at $9,018,000 after buying an additional 4,287 shares in the last quarter. Northeast Investment Management increased its stake in TJX Companies by 44.9% in the first quarter. Northeast Investment Management now owns 8,086 shares of the clothing and home fashion retailer valued at $490,000 after buying 2,507 additional shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in TJX Companies by 31.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,632 shares of the apparel and home fashion retailer valued at $402,000 after buying an additional 1,600 shares in the last quarter. 91.45% of the shares are currently held by hedge funds and other institutional investors.

Insider Trading in TJX Companies

In other news, EVP Kenneth Canestrari sold 35,827 shares of TJX Companies in a trade that took place on Thursday, May 19. The stock was sold at an average price of $61.04, for a total value of $2,186,880.08. Following the sale, the executive vice president now directly owns 160,899 shares of the company, valued at $9,821,274.96. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, EVP Kenneth Canestrari sold 35,827 shares of TJX Companies in a trade that took place on Thursday, May 19. The stock was sold at an average price of $61.04, for a total value of $2,186,880.08. Following the sale, the executive vice president now directly owns 160,899 shares of the company, valued at $9,821,274.96. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, CFO Scott Goldenberg sold 30,000 shares of TJX Companies in a trade that took place on Thursday, May 19. The stock was sold at an average price of $62.03, for a total value of $1,860,900.00. Following the transaction, the CFO now owns 119,127 shares of the company, valued at approximately $7,389,447.81. Disclosure of this sale can be found here. Insiders sold 112,824 shares of the company valued at $6,973,343 in the past ninety days. Insiders hold 0.19% of the company’s shares.

A Wall Street analyst gives his opinion

TJX has been the subject of several research analyst reports. TheStreet upgraded TJX companies from a ‘b’ to a ‘c+’ rating in a Wednesday, May 18 research note. The Goldman Sachs Group launched coverage on TJX companies in a research note on Tuesday. They issued a “neutral” rating and a price target of $70.00 for the company. Robert W. Baird cut his price target on TJX Companies from $78.00 to $74.00 and set an “outperform” rating for the company in a Thursday, May 19 research note. Credit Suisse Group raised its price target on TJX companies from $73.00 to $75.00 and gave the stock an “outperform” rating in a Thursday, May 19 research note. Finally, Gordon Haskett downgraded the TJX companies from a “buy” to a “hold” rating and reduced their price target for the stock from $67.00 to $60.00 in a research note from the Thursday July 28. Six analysts gave the stock a hold rating and fourteen gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.50.

TJX Companies Sourcing 2.6%

Shares of TJX opened at $63.22 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt ratio of 0.60. The TJX Companies, Inc. has a 12-month low of $53.69 and a 12-month high of $77.35. The stock’s 50-day moving average is $60.07 and its two-hundred-day moving average is $62.48. The company has a market capitalization of $74.07 billion, a P/E ratio of 22.99, a PEG ratio of 1.90 and a beta of 0.92.

TJX Companies (NYSE: TJXGet a rating) last released its quarterly results on Wednesday, May 18. The home apparel and fashion retailer reported earnings per share (EPS) of $0.68 for the quarter, beating analyst consensus estimates of $0.60 by $0.08. The company posted revenue of $11.41 billion for the quarter, versus analyst estimates of $11.58 billion. TJX Companies posted a return on equity of 61.28% and a net margin of 6.69%. The company’s revenue increased 13.1% year over year. In the same period a year earlier, the company posted earnings per share of $0.44. Analysts expect The TJX Companies, Inc. to post earnings per share of 3.13 for the current fiscal year.

TJX Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1. Shareholders of record on Thursday, August 11 will receive a dividend of $0.295. This represents a dividend of $1.18 on an annualized basis and a dividend yield of 1.87%. The ex-date of this dividend is Wednesday, August 10. TJX Companies’ dividend payout ratio is currently 42.91%.

About TJX Companies

(Get a rating)

The TJX Companies, Inc., together with its subsidiaries, operates as a low-cost home fashion and apparel retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. The company sells family clothing, including shoes and accessories; home fashion items, such as home staples, furniture, rugs, lighting products, giftware, home products, decorative accessories, table tops and kitchen utensils, as well as expanded departments for pets, children and gourmet foods; jewelry and accessories; and other goods.

Further reading

Want to see what other hedge funds hold TJX? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for The TJX Companies, Inc. (NYSE: TJXGet a rating).

Institutional ownership by quarter for TJX companies (NYSE: TJX)



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