Provident Trust Co. Buys 264,304 Shares of The TJX Companies, Inc. (NYSE:TJX)

Provident Trust Co. increased its holdings in The TJX Companies, Inc. (NYSE:TJX) by 21.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,516,397 shares of the apparel and home fashions retailer’s stock after purchasing an additional 264,304 shares during the period. TJX Companies accounts for approximately 2.9% of Provident Trust Co.’s investment portfolio, making the stock its 13th biggest holding. Provident Trust Co.’s holdings in TJX Companies were worth $142,253,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC bought a new stake in shares of TJX Companies in the fourth quarter worth $28,000. BKM Wealth Management LLC acquired a new position in TJX Companies in the fourth quarter valued at $30,000. Larson Financial Group LLC lifted its holdings in TJX Companies by 76.0% in the third quarter. Larson Financial Group LLC now owns 389 shares of the apparel and home fashions retailer’s stock valued at $35,000 after buying an additional 168 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in TJX Companies in the fourth quarter valued at $40,000. Finally, Steward Financial Group LLC lifted its holdings in TJX Companies by 56.5% in the third quarter. Steward Financial Group LLC now owns 493 shares of the apparel and home fashions retailer’s stock valued at $43,000 after buying an additional 178 shares during the period. Institutional investors own 91.09% of the company’s stock.

TJX Companies Price Performance

NYSE TJX traded down $0.06 on Friday, hitting $96.36. The stock had a trading volume of 3,748,411 shares, compared to its average volume of 4,860,047. The TJX Companies, Inc. has a 52-week low of $75.65 and a 52-week 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. The company has a market capitalization of $109.17 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.48 and a beta of 0.86. The firm has a 50-day moving average of $97.33 and a 200-day moving average of $93.87.

TJX Companies (NYSE:TJX) last posted its earnings results 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 net margin of 8.25% and a return on equity of 64.18%. The business had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.20 billion. During the same period in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts expect that The TJX Companies, Inc. will post 4.07 EPS for the current year.

TJX Companies declared that its board has approved a stock buyback plan on Wednesday, February 28th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.56%. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio (DPR) is 38.86%.

Insider Activity

In other news, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 515,801 shares in the company, valued at approximately $51,053,982.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Louise Greenlees sold 2,694 shares of the 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 owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction 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 transaction, 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TJX shares. UBS Group boosted their target price on shares of TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, March 1st. BMO Capital Markets upped their price objective on shares of TJX Companies from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Redburn Atlantic lowered shares of 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. The Goldman Sachs Group upgraded shares of TJX Companies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $110.00 in a report on Thursday. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $105.00 price objective on shares of TJX Companies in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.65.

TJX Companies 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.