Icon Advisers Inc. Co. cut its stake in shares of TJX Companies Inc (NYSE:TJX) by 42.0% in the 3rd quarter, Holdings Channel reports. The fund owned 4,701 shares of the apparel and home fashions retailer’s stock after selling 3,400 shares during the quarter. Icon Advisers Inc. Co.’s holdings in TJX Companies were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of TJX. Vontobel Asset Management Inc. acquired a new stake in TJX Companies during the second quarter worth approximately $261,270,000. Bank of Montreal Can acquired a new stake in TJX Companies during the second quarter worth approximately $146,241,000. Charles Schwab Investment Advisory Inc. acquired a new stake in TJX Companies during the second quarter worth approximately $121,730,000. Scopus Asset Management L.P. lifted its position in TJX Companies by 237.5% during the second quarter. Scopus Asset Management L.P. now owns 550,000 shares of the apparel and home fashions retailer’s stock worth $52,349,000 after acquiring an additional 950,000 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in TJX Companies during the second quarter worth approximately $82,865,000. Hedge funds and other institutional investors own 90.12% of the company’s stock.
Several equities research analysts have issued reports on TJX shares. Telsey Advisory Group raised their price objective on shares of TJX Companies from $46.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. DA Davidson assumed coverage on shares of TJX Companies in a research report on Tuesday, September 25th. They issued a “buy” rating and a $65.00 price target for the company. Buckingham Research lifted their price target on shares of TJX Companies from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Loop Capital reiterated a “hold” rating and issued a $52.50 price target on shares of TJX Companies in a research report on Tuesday, August 21st. Finally, Credit Suisse Group lifted their price target on shares of TJX Companies from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.08.
TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Tuesday, August 21st. The apparel and home fashions retailer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $8.99 billion. TJX Companies had a net margin of 7.88% and a return on equity of 58.66%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, equities analysts predict that TJX Companies Inc will post 2.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.56 dividend on an annualized basis and a yield of 2.80%. TJX Companies’s dividend payout ratio (DPR) is 38.61%.
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About TJX Companies
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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.
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