Alpha Cubed Investments LLC Takes $217,000 Position in The TJX Companies, Inc. (NYSE:TJX)

Alpha Cubed Investments LLC bought a new position in shares of 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 2,310 shares of the apparel and home fashions retailer’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TJX. Commonwealth Equity Services LLC grew its stake in TJX Companies by 0.4% during the third quarter. Commonwealth Equity Services LLC now owns 279,593 shares of the apparel and home fashions retailer’s stock worth $24,850,000 after purchasing an additional 1,187 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of TJX Companies during the 3rd quarter worth approximately $193,000. Robeco Institutional Asset Management B.V. increased its stake in shares of TJX Companies by 7.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 176,852 shares of the apparel and home fashions retailer’s stock valued at $15,719,000 after acquiring an additional 12,830 shares in the last quarter. Mission Wealth Management LP boosted its stake in 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 acquiring an additional 149 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in shares of TJX Companies by 824.3% during the 3rd quarter. Dakota Wealth Management now owns 24,761 shares of the apparel and home fashions retailer’s stock worth $2,201,000 after purchasing an additional 22,082 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TJX. UBS Group upgraded TJX Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $104.00 to $132.00 in a report on Thursday. BMO Capital Markets boosted their target price 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. Telsey Advisory Group restated an “outperform” rating and issued a $105.00 target price on shares of TJX Companies in a report on Wednesday, February 28th. The Goldman Sachs Group upgraded TJX Companies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Finally, Redburn Atlantic downgraded 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.29.

TJX Companies Stock Down 0.3 %

TJX stock opened at $93.78 on Thursday. The stock has a fifty day moving average of $97.11 and a 200-day moving average of $94.02. The TJX Companies, Inc. has a fifty-two week low of $75.65 and a fifty-two week high of $102.84. The company has a market capitalization of $106.25 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 2.42 and a beta of 0.87. 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 released its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, equities research analysts predict 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. The ex-dividend date is Wednesday, May 15th. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. This represents a $1.50 annualized dividend and a dividend yield of 1.60%. TJX Companies’s payout ratio is 34.46%.

TJX Companies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the apparel and home fashions retailer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Louise Greenlees sold 2,694 shares of the 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 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 legal filing with the SEC, which is available at this link. In related news, EVP Louise Greenlees sold 2,694 shares of the company’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 value of $266,248.02. Following the transaction, the executive vice president now directly owns 50,273 shares in the company, valued at $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is currently 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.