SRS Capital Advisors Inc. reduced its holdings in shares of TJX Companies Inc (NYSE:TJX) by 17.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,394 shares of the apparel and home fashions retailer’s stock after selling 493 shares during the period. SRS Capital Advisors Inc.’s holdings in TJX Companies were worth $268,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in TJX. Unigestion Holding SA boosted its position in shares of TJX Companies by 34.7% during the third quarter. Unigestion Holding SA now owns 1,009,440 shares of the apparel and home fashions retailer’s stock worth $113,077,000 after acquiring an additional 260,240 shares during the last quarter. Suncoast Equity Management bought a new position in shares of TJX Companies during the third quarter worth $227,000. Janney Montgomery Scott LLC lifted its position in TJX Companies by 11.5% during the third quarter. Janney Montgomery Scott LLC now owns 81,056 shares of the apparel and home fashions retailer’s stock valued at $9,080,000 after purchasing an additional 8,342 shares during the last quarter. United Bank bought a new position in TJX Companies during the third quarter valued at $486,000. Finally, Nichols & Pratt Advisers LLP MA lifted its position in TJX Companies by 4.1% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 205,645 shares of the apparel and home fashions retailer’s stock valued at $23,040,000 after purchasing an additional 8,017 shares during the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.
TJX has been the subject of several research reports. Zacks Investment Research upgraded shares of TJX Companies from a “hold” rating to a “buy” rating and set a $53.50 price objective for the company in a research report on Wednesday, July 18th. Cowen reiterated a “buy” rating and set a $57.00 price objective on shares of TJX Companies in a research report on Tuesday, July 31st. Citigroup increased their price objective on shares of TJX Companies from $48.00 to $55.50 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Deutsche Bank increased their price objective on shares of TJX Companies from $50.00 to $52.50 and gave the company a “buy” rating in a research report on Monday, August 20th. Finally, Buckingham Research increased their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. TJX Companies has an average rating of “Buy” and a consensus target price of $54.08.
TJX Companies (NYSE:TJX) last announced its earnings results on Tuesday, August 21st. The apparel and home fashions retailer reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. TJX Companies had a net margin of 7.88% and a return on equity of 58.66%. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts predict that TJX Companies Inc will post 2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Wednesday, November 14th. TJX Companies’s dividend payout ratio is currently 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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