abrdn plc Trims Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

abrdn plc decreased its position in The TJX Companies, Inc. (NYSE:TJX) by 49.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,266,799 shares of the apparel and home fashions retailer’s stock after selling 2,178,062 shares during the quarter. abrdn plc owned approximately 0.20% of TJX Companies worth $212,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TJX. Moneta Group Investment Advisors LLC lifted its position in TJX Companies by 90,089.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,788,543 shares of the apparel and home fashions retailer’s stock valued at $1,575,168,000 after acquiring an additional 19,766,602 shares during the period. Morgan Stanley grew its stake in shares of TJX Companies by 88.1% in the 4th quarter. Morgan Stanley now owns 26,619,778 shares of the apparel and home fashions retailer’s stock worth $2,118,935,000 after buying an additional 12,468,119 shares during the last quarter. Norges Bank bought a new position in TJX Companies during the 4th quarter valued at approximately $891,631,000. Ontario Teachers Pension Plan Board purchased a new position in TJX Companies during the first quarter valued at $408,331,000. Finally, FMR LLC raised its stake in TJX Companies by 13.1% during the third quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock valued at $4,622,514,000 after buying an additional 6,036,764 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Stock Performance

TJX Companies stock traded up $0.70 during midday trading on Friday, hitting $93.36. The stock had a trading volume of 6,043,994 shares, compared to its average volume of 4,780,190. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The TJX Companies, Inc. has a 52-week low of $75.65 and a 52-week high of $102.84. The company has a market capitalization of $105.77 billion, a PE ratio of 24.19, a P/E/G ratio of 2.38 and a beta of 0.86. The firm’s fifty day moving average is $97.58 and its two-hundred day moving average is $93.62.

TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $16.41 billion for 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 company’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. On average, research analysts forecast that The TJX Companies, Inc. will post 4.07 EPS for the current year.

TJX Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. This represents a $1.50 dividend on an annualized basis and a yield of 1.61%. TJX Companies’s payout ratio is currently 34.46%.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on TJX shares. Telsey Advisory Group restated an “outperform” rating and set a $105.00 price target on shares of TJX Companies in a report on Wednesday, February 28th. UBS Group upped their target price on shares of TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Redburn Atlantic cut shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target on the stock. in a report on Monday, February 5th. Finally, BMO Capital Markets boosted their price objective 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. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.19.

Insiders Place Their Bets

In other news, CEO Ernie Herrman sold 20,000 shares of TJX Companies 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 sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the transaction, the executive vice president now owns 50,273 shares in the company, valued at $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of the company’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 value of $1,979,600.00. Following the sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate 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.