The TJX Companies, Inc. (NYSE:TJX) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd reduced its stake in The TJX Companies, Inc. (NYSE:TJX) by 62.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,326 shares of the apparel and home fashions retailer’s stock after selling 3,868 shares during the period. Harvest Fund Management Co. Ltd’s holdings in TJX Companies were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TJX. Anchor Investment Management LLC purchased a new position in shares of TJX Companies in the 4th quarter valued at $28,000. BKM Wealth Management LLC purchased a new stake in TJX Companies in the 4th quarter valued at approximately $30,000. Larson Financial Group LLC grew its holdings in TJX Companies by 76.0% during the third quarter. Larson Financial Group LLC now owns 389 shares of the apparel and home fashions retailer’s stock worth $35,000 after acquiring an additional 168 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of TJX Companies in the 4th quarter valued at about $40,000. Finally, Steward Financial Group LLC increased its holdings in TJX Companies by 56.5% in the third quarter. Steward Financial Group LLC now owns 493 shares of the apparel and home fashions retailer’s stock valued at $43,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TJX shares. Redburn Atlantic cut shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Monday, February 5th. Telsey Advisory Group reiterated an “outperform” rating and set a $105.00 price target on shares of TJX Companies in a report on Wednesday, February 28th. BMO Capital Markets upped their price objective 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. UBS Group lifted 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. Finally, The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $110.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, TJX Companies presently has a consensus rating of “Moderate Buy” and an average price target of $102.65.

Insider Activity

In related news, CEO Ernie Herrman sold 20,000 shares of the company’s 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 sale, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

TJX Companies Price Performance

Shares of NYSE TJX opened at $96.26 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.64. The TJX Companies, Inc. has a 1-year low of $75.65 and a 1-year high of $102.84. The company has a market capitalization of $109.06 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.43 and a beta of 0.86. The business has a 50-day moving average of $97.39 and a 200-day moving average of $93.80.

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

TJX Companies Increases Dividend

The firm also recently announced 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. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 15th. TJX Companies’s dividend payout ratio is presently 34.46%.

TJX Companies announced that its Board of Directors has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.