OVERSEA CHINESE BANKING Corp Ltd Takes Position in The TJX Companies, Inc. (NYSE:TJX)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in The TJX Companies, Inc. (NYSE:TJX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,773 shares of the apparel and home fashions retailer’s stock, valued at approximately $635,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Penobscot Investment Management Company Inc. boosted its holdings in shares of TJX Companies by 35.5% in the third quarter. Penobscot Investment Management Company Inc. now owns 73,466 shares of the apparel and home fashions retailer’s stock valued at $6,530,000 after acquiring an additional 19,236 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of TJX Companies by 3.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 603,482 shares of the apparel and home fashions retailer’s stock valued at $56,613,000 after acquiring an additional 21,767 shares in the last quarter. Savoir Faire Capital Management L.P. purchased a new stake in shares of TJX Companies in the third quarter valued at about $3,197,000. Gateway Investment Advisers LLC lifted its stake in shares of TJX Companies by 42.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 19,108 shares of the apparel and home fashions retailer’s stock valued at $1,793,000 after purchasing an additional 5,737 shares during the period. Finally, Cape Cod Five Cents Savings Bank lifted its stake in shares of TJX Companies by 109.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 148,954 shares of the apparel and home fashions retailer’s stock valued at $13,239,000 after purchasing an additional 77,711 shares during the period. Hedge funds and other institutional investors own 91.09% of the company’s stock.

Insider Activity at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Louise Greenlees sold 2,694 shares of the business’s 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 transaction, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the business’s stock in a transaction 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 transaction, 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 owned by insiders.

TJX Companies Stock Performance

Shares of NYSE TJX opened at $93.36 on Monday. The company has a market cap of $105.77 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.40 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 current ratio of 1.21 and a quick ratio of 0.64. The company has a 50-day simple moving average of $97.58 and a 200-day simple moving average of $93.70.

TJX Companies (NYSE:TJX) last released its 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 firm had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.20 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. TJX Companies’s 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 earnings per share for the current year.

TJX Companies declared that its board has approved a share repurchase program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.61%. This is an increase from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 15th. TJX Companies’s payout ratio is presently 34.46%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. BMO Capital Markets raised 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $105.00 price objective on shares of TJX Companies in a research note on Wednesday, February 28th. Finally, Redburn Atlantic cut shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.19.

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.