Confluence Investment Management LLC Sells 219,868 Shares of The TJX Companies, Inc. (NYSE:TJX)

by · The Cerbat Gem

Confluence Investment Management LLC reduced its holdings in shares of The TJX Companies, Inc. (NYSE:TJX – Free Report) by 25.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 650,928 shares of the apparel and home fashions retailer’s stock after selling 219,868 shares during the quarter. Confluence Investment Management LLC’s holdings in TJX Companies were worth $76,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in TJX Companies by 35.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,317,452 shares of the apparel and home fashions retailer’s stock valued at $1,249,237,000 after buying an additional 3,255,849 shares during the period. PineStone Asset Management Inc. raised its stake in shares of TJX Companies by 134.2% in the second quarter. PineStone Asset Management Inc. now owns 5,467,797 shares of the apparel and home fashions retailer’s stock valued at $602,004,000 after buying an additional 3,132,960 shares during the period. Ameriprise Financial Inc. lifted its position in shares of TJX Companies by 33.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,241,176 shares of the apparel and home fashions retailer’s stock valued at $1,347,934,000 after buying an additional 3,063,318 shares during the last quarter. Capital Wealth Planning LLC bought a new position in shares of TJX Companies during the 2nd quarter worth $315,698,000. Finally, Los Angeles Capital Management LLC increased its holdings in TJX Companies by 80.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 2,943,176 shares of the apparel and home fashions retailer’s stock worth $324,044,000 after acquiring an additional 1,313,517 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Stock Performance

NYSE TJX opened at $116.85 on Friday. The TJX Companies, Inc. has a 52-week low of $87.26 and a 52-week high of $121.13. The company has a fifty day moving average of $116.07 and a 200-day moving average of $110.39. The company has a market capitalization of $131.79 billion, a P/E ratio of 28.22, a P/E/G ratio of 2.92 and a beta of 0.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.60 and a current ratio of 1.21.

TJX Companies (NYSE:TJX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.31 billion. TJX Companies had a return on equity of 63.19% and a net margin of 8.56%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, equities research analysts predict that The TJX Companies, Inc. will post 4.15 EPS for the current fiscal year.

TJX Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 14th. TJX Companies’s payout ratio is currently 36.23%.

Analysts Set New Price Targets

Several analysts have recently issued reports on TJX shares. Jefferies Financial Group boosted their price target on shares of TJX Companies from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Citigroup lowered TJX Companies from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $110.00 to $128.00 in a research note on Thursday, August 22nd. Barclays increased their price objective on TJX Companies from $114.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird upped their price target on TJX Companies from $113.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of TJX Companies from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.76.

Read Our Latest Stock Analysis on TJX

Insiders Place Their Bets

In other news, CEO Ernie Herrman sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total value of $1,763,100.00. Following the completion of the sale, the chief executive officer now owns 536,148 shares of the company’s stock, valued at approximately $63,018,835.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

TJX Companies Company Profile

(Free Report)

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.

Further Reading

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