Barlow Wealth Partners Inc. Purchases New Stake in The TJX Companies, Inc. (NYSE:TJX)

Barlow Wealth Partners Inc. bought a new stake in The TJX Companies, Inc. (NYSE:TJX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 182,179 shares of the apparel and home fashions retailer’s stock, valued at approximately $17,090,000. TJX Companies accounts for approximately 2.4% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 10th biggest holding.

Several other institutional investors also recently made changes to their positions in TJX. Vanguard Group Inc. raised its stake in TJX Companies by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 95,135,688 shares of the apparel and home fashions retailer’s stock valued at $8,455,660,000 after purchasing an additional 392,783 shares during the last quarter. FMR LLC grew its holdings in shares of TJX Companies by 13.1% during the 3rd quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock worth $4,622,514,000 after purchasing an additional 6,036,764 shares during the period. Morgan Stanley increased its position in shares of TJX Companies by 1.5% in the third quarter. Morgan Stanley now owns 24,752,978 shares of the apparel and home fashions retailer’s stock worth $2,200,045,000 after acquiring an additional 371,163 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of TJX Companies by 2.3% during the 3rd quarter. Northern Trust Corp now owns 13,734,141 shares of the apparel and home fashions retailer’s stock valued at $1,220,690,000 after acquiring an additional 313,530 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in TJX Companies by 0.9% during the 3rd quarter. Jennison Associates LLC now owns 9,054,237 shares of the apparel and home fashions retailer’s stock worth $804,741,000 after purchasing an additional 83,643 shares during the period. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TJX shares. BMO Capital Markets upped their target price on shares of TJX Companies from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $110.00 in a report on Thursday, April 25th. UBS Group raised TJX Companies from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $132.00 in a research report on Thursday, May 2nd. Redburn Atlantic downgraded TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target for the company. in a research note on Monday, February 5th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $105.00 price objective on shares of TJX Companies in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.29.

Insider Buying and Selling

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

TJX Companies Stock Performance

Shares of NYSE:TJX traded up $0.58 during trading hours on Wednesday, hitting $98.50. The stock had a trading volume of 4,411,094 shares, compared to its average volume of 5,084,401. The TJX Companies, Inc. has a 1-year low of $75.65 and a 1-year high of $102.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21. The firm has a market capitalization of $111.60 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.49 and a beta of 0.87. The stock’s fifty day simple moving average is $96.86 and its 200 day simple moving average is $94.23.

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 analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.20 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. Sell-side analysts anticipate that The TJX Companies, Inc. will post 4.1 earnings per share for the current fiscal year.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio (DPR) is currently 34.46%.

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

TJX Companies Company Profile

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.