WP Advisors LLC Buys New Stake in TJX Companies Inc (TJX)
WP Advisors LLC bought a new stake in TJX Companies Inc (NYSE:TJX) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 801 shares of the apparel and home fashions retailer’s stock, valued at approximately $43,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TJX. Nalls Sherbakoff Group LLC acquired a new position in shares of TJX Companies during the fourth quarter worth about $25,000. Stone House Investment Management LLC acquired a new position in shares of TJX Companies during the first quarter worth about $25,000. Adirondack Trust Co. grew its position in shares of TJX Companies by 100.0% during the fourth quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock worth $26,000 after buying an additional 290 shares in the last quarter. Westside Investment Management Inc. grew its position in shares of TJX Companies by 100.0% during the fourth quarter. Westside Investment Management Inc. now owns 600 shares of the apparel and home fashions retailer’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Finally, Edge Wealth Management LLC grew its position in shares of TJX Companies by 100.0% during the fourth quarter. Edge Wealth Management LLC now owns 650 shares of the apparel and home fashions retailer’s stock worth $29,000 after buying an additional 325 shares in the last quarter. 91.26% of the stock is owned by institutional investors.
Shares of TJX opened at $55.12 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.53 and a quick ratio of 0.70. The company has a market capitalization of $66.95 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.66. TJX Companies Inc has a 52-week low of $40.65 and a 52-week high of $56.64.
TJX Companies announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 27th that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the apparel and home fashions retailer to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.67%. This is a boost from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s payout ratio is currently 36.97%.
In other TJX Companies news, Director Amy B. Lane sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $51.79, for a total value of $51,790.00. Following the completion of the sale, the director now owns 31,092 shares in the company, valued at $1,610,254.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard Sherr sold 43,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $54.08, for a total value of $2,325,440.00. Following the completion of the sale, the executive vice president now owns 118,708 shares of the company’s stock, valued at approximately $6,419,728.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,498 shares of company stock valued at $4,558,772. 0.20% of the stock is owned by company insiders.
A number of equities analysts have recently commented on TJX shares. Argus boosted their price objective on TJX Companies to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Zacks Investment Research raised TJX Companies from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, January 28th. Cfra raised TJX Companies to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, February 28th. MKM Partners boosted their price objective on TJX Companies from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. Finally, Loop Capital boosted their price objective on TJX Companies from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. TJX Companies currently has an average rating of “Buy” and a consensus target price of $55.34.
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TJX Companies Profile
The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. 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, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.
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