Summit Financial LLC Has $1.41 Million Holdings in The TJX Companies, Inc. (NYSE:TJX)

Summit Financial LLC decreased its stake in The TJX Companies, Inc. (NYSE:TJX) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,012 shares of the apparel and home fashions retailer’s stock after selling 210 shares during the quarter. Summit Financial LLC’s holdings in TJX Companies were worth $1,408,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in TJX Companies by 0.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 279,593 shares of the apparel and home fashions retailer’s stock valued at $24,850,000 after purchasing an additional 1,187 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in TJX Companies in the 3rd quarter valued at $193,000. Robeco Institutional Asset Management B.V. boosted its stake in TJX Companies by 7.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 176,852 shares of the apparel and home fashions retailer’s stock worth $15,719,000 after purchasing an additional 12,830 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of TJX Companies by 2.9% during the third quarter. Mission Wealth Management LP now owns 5,296 shares of the apparel and home fashions retailer’s stock worth $471,000 after purchasing an additional 149 shares during the last quarter. Finally, Dakota Wealth Management increased its stake in shares of TJX Companies by 824.3% in the third quarter. Dakota Wealth Management now owns 24,761 shares of the apparel and home fashions retailer’s stock valued at $2,201,000 after buying an additional 22,082 shares in the last quarter. 91.09% of the stock is currently owned by institutional investors.

TJX Companies Trading Up 1.3 %

NYSE TJX traded up $1.24 during trading on Thursday, reaching $95.06. 988,901 shares of the stock traded hands, compared to its average volume of 5,008,586. The stock’s 50-day moving average price is $97.11 and its 200 day moving average price is $94.02. 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 firm has a market cap of $107.70 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.87. The TJX Companies, Inc. has a fifty-two week low of $75.65 and a fifty-two week high of $102.84.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.20 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts predict that The TJX Companies, Inc. will post 4.07 EPS for the current year.

TJX Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s payout ratio is 34.46%.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. UBS Group raised shares of TJX Companies from a “neutral” rating to a “buy” rating and increased their price target for the company from $104.00 to $132.00 in a research note on Thursday. Redburn Atlantic lowered shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target for the company. in a report on Monday, February 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $105.00 price objective 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 target price for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.29.

Insider Transactions at TJX Companies

In related news, EVP Louise Greenlees sold 2,694 shares of TJX Companies 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 sale, the executive vice president now owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. 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 business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the sale, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 515,801 shares of the company’s stock, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is owned by 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.