Global Wealth Management Investment Advisory Inc. Grows Stock Position in The TJX Companies, Inc. (NYSE:TJX)

Global Wealth Management Investment Advisory Inc. grew its position in shares of The TJX Companies, Inc. (NYSE:TJX) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,539 shares of the apparel and home fashions retailer’s stock after buying an additional 620 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in TJX Companies were worth $1,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TJX. FMR LLC lifted its position in shares of 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 worth $4,622,514,000 after acquiring an additional 6,036,764 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of TJX Companies by 350.9% during the 3rd quarter. Schroder Investment Management Group now owns 2,078,244 shares of the apparel and home fashions retailer’s stock valued at $184,714,000 after purchasing an additional 1,617,367 shares during the period. Assenagon Asset Management S.A. lifted its holdings in TJX Companies by 225.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,137,256 shares of the apparel and home fashions retailer’s stock worth $189,959,000 after purchasing an additional 1,480,837 shares in the last quarter. TD Asset Management Inc boosted its stake in TJX Companies by 93.2% in the 3rd quarter. TD Asset Management Inc now owns 2,949,415 shares of the apparel and home fashions retailer’s stock worth $262,144,000 after purchasing an additional 1,423,004 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in TJX Companies during the 3rd quarter valued at about $115,982,000. Institutional investors own 91.09% of the company’s stock.

TJX Companies Trading Down 0.2 %

Shares of TJX Companies stock traded down $0.18 during trading on Wednesday, reaching $93.91. The company’s stock had a trading volume of 2,106,057 shares, compared to its average volume of 5,014,050. The company has a quick ratio of 0.64, a current ratio of 1.21 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 firm’s 50-day moving average is $97.20 and its two-hundred day moving average is $94.02. The company has a market cap of $106.40 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.44 and a beta of 0.86.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $16.41 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.89 earnings per share. On average, sell-side analysts anticipate that The TJX Companies, Inc. will post 4.07 earnings per share for the current year.

TJX Companies declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a $0.375 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.50 annualized dividend and a yield of 1.60%. This is an increase from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s payout ratio is presently 34.46%.

Insider Activity

In related news, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction 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 transaction, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the completion of 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. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TJX. Redburn Atlantic downgraded 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. BMO Capital Markets increased their target price on shares of TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. UBS Group raised their price target on shares of TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $105.00 price target on shares of TJX Companies in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, TJX Companies has an average rating of “Moderate Buy” and a consensus price target of $102.65.

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.