Channing Global Advisors LLC Sells 7,520 Shares of The TJX Companies, Inc. (NYSE:TJX)

Channing Global Advisors LLC decreased its holdings in The TJX Companies, Inc. (NYSE:TJX) by 38.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,038 shares of the apparel and home fashions retailer’s stock after selling 7,520 shares during the period. TJX Companies accounts for about 0.9% of Channing Global Advisors LLC’s portfolio, making the stock its 29th biggest holding. Channing Global Advisors LLC’s holdings in TJX Companies were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TJX. Tandem Investment Advisors Inc. boosted its stake in TJX Companies by 1.8% during the fourth quarter. Tandem Investment Advisors Inc. now owns 5,846 shares of the apparel and home fashions retailer’s stock valued at $548,000 after buying an additional 106 shares during the last quarter. Alhambra Investment Management LLC raised its position in TJX Companies by 2.0% during the fourth quarter. Alhambra Investment Management LLC now owns 5,433 shares of the apparel and home fashions retailer’s stock valued at $510,000 after purchasing an additional 108 shares during the period. BSW Wealth Partners raised its position in TJX Companies by 2.0% during the fourth quarter. BSW Wealth Partners now owns 5,623 shares of the apparel and home fashions retailer’s stock valued at $528,000 after purchasing an additional 109 shares during the period. Insight Advisors LLC PA raised its position in TJX Companies by 3.1% during the fourth quarter. Insight Advisors LLC PA now owns 3,757 shares of the apparel and home fashions retailer’s stock valued at $352,000 after purchasing an additional 112 shares during the period. Finally, First Business Financial Services Inc. raised its position in TJX Companies by 0.6% during the third quarter. First Business Financial Services Inc. now owns 18,177 shares of the apparel and home fashions retailer’s stock valued at $1,616,000 after purchasing an additional 113 shares during the period. Institutional investors own 91.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other TJX Companies 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 515,801 shares in the company, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

TJX Companies Stock Performance

Shares of TJX stock traded up $0.53 during mid-day trading on Friday, hitting $96.95. 1,441,177 shares of the stock were exchanged, compared to its average volume of 5,029,320. The stock’s fifty day simple moving average is $97.36 and its two-hundred day simple moving average is $93.82. The stock has a market capitalization of $109.84 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 2.45 and a beta of 0.86. The TJX Companies, Inc. has a 12-month low of $75.65 and a 12-month 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.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $16.20 billion. During the same quarter last year, the company posted $0.89 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that The TJX Companies, Inc. will post 4.07 EPS for the current year.

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

TJX Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.55%. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TJX shares. UBS Group increased their price target on TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group upgraded TJX Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $110.00 in a report on Thursday. Redburn Atlantic downgraded TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a report on Monday, February 5th. Telsey Advisory Group restated an “outperform” rating and set a $105.00 price objective on shares of TJX Companies in a report on Wednesday, February 28th. Finally, BMO Capital Markets increased their target price on TJX Companies from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.65.

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.