Summit Global Investments Raises Stake in The TJX Companies, Inc. (NYSE:TJX)

Summit Global Investments grew its holdings in shares of The TJX Companies, Inc. (NYSE:TJX) by 774.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,423 shares of the apparel and home fashions retailer’s stock after acquiring an additional 127,914 shares during the quarter. TJX Companies accounts for approximately 0.9% of Summit Global Investments’ holdings, making the stock its 24th biggest holding. Summit Global Investments’ holdings in TJX Companies were worth $13,548,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on TJX shares. BMO Capital Markets lifted 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. Telsey Advisory Group restated an “outperform” rating and issued a $105.00 price objective on shares of TJX Companies in a research report on Wednesday, February 28th. The Goldman Sachs Group upgraded shares of TJX Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock 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 price target for the company from $104.00 to $132.00 in a research report on Thursday. Finally, Redburn Atlantic cut TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price objective for the company. in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.29.

TJX Companies Stock Up 0.9 %

TJX Companies stock traded up $0.81 on Thursday, hitting $94.63. 4,919,930 shares of the stock traded hands, compared to its average volume of 5,054,353. The TJX Companies, Inc. has a 1 year low of $75.65 and a 1 year high of $102.84. The firm has a market cap of $107.21 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.42 and a beta of 0.87. 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 business’s fifty day simple moving average is $97.11 and its 200 day simple moving average is $94.02.

TJX Companies (NYSE:TJX) last issued 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 analysts’ consensus estimates of $1.12 by $0.10. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The company had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.20 billion. During the same period last year, the company posted $0.89 EPS. TJX Companies’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that The TJX Companies, Inc. will post 4.07 earnings per share for the current year.

TJX Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a $0.375 dividend. 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 dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s payout ratio is currently 34.46%.

TJX Companies declared that its board has authorized 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 purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total value of $266,248.02. Following the transaction, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the completion of the sale, the executive vice president now owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total transaction 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 $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company 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.