BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $28.27 Million Stake in TJX Companies Inc (TJX)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in TJX Companies Inc (NYSE:TJX) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 369,684 shares of the apparel and home fashions retailer’s stock after acquiring an additional 19,511 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of TJX Companies worth $28,266,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TJX. Zions Bancorporation raised its holdings in shares of TJX Companies by 185.9% in the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock worth $100,000 after acquiring an additional 883 shares during the last quarter. Farmers National Bank acquired a new position in shares of TJX Companies in the fourth quarter worth $106,000. Icon Wealth Partners LLC acquired a new position in shares of TJX Companies in the fourth quarter worth $109,000. Truewealth LLC acquired a new position in shares of TJX Companies in the fourth quarter worth $119,000. Finally, Assetmark Inc. increased its stake in TJX Companies by 50.3% in the fourth quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock valued at $152,000 after purchasing an additional 664 shares during the last quarter. 90.93% of the stock is owned by institutional investors.
In other TJX Companies news, CEO Ernie Herrman sold 11,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $83.64, for a total transaction of $920,040.00. Following the completion of the sale, the chief executive officer now owns 454,821 shares of the company’s stock, valued at $38,041,228.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Carol Meyrowitz sold 43,020 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $83.77, for a total value of $3,603,785.40. Following the sale, the chairman now directly owns 294,098 shares of the company’s stock, valued at approximately $24,636,589.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,855 shares of company stock valued at $6,502,443. 0.23% of the stock is owned by company insiders.
TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.10. TJX Companies had a return on equity of 55.23% and a net margin of 7.27%. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. equities research analysts forecast that TJX Companies Inc will post 4.86 EPS for the current year.
TJX Companies announced that its board has initiated a share buyback plan on Wednesday, February 28th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the apparel and home fashions retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Several research firms recently commented on TJX. Credit Suisse Group began coverage on TJX Companies in a research note on Monday, March 12th. They issued a “neutral” rating and a $85.00 target price for the company. Loop Capital began coverage on TJX Companies in a research note on Thursday, March 8th. They issued a “hold” rating and a $84.00 target price for the company. Zacks Investment Research lowered TJX Companies from a “buy” rating to a “hold” rating in a research note on Monday, March 5th. Northcoast Research set a $90.00 target price on TJX Companies and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Morgan Stanley upped their target price on TJX Companies from $86.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. TJX Companies currently has a consensus rating of “Buy” and an average target price of $87.30.
TJX Companies Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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