First Mercantile Trust Co. cut its stake in shares of TJX Companies Inc (NYSE:TJX) by 11.3% in the third quarter, HoldingsChannel.com reports. The fund owned 40,190 shares of the apparel and home fashions retailer’s stock after selling 5,123 shares during the period. TJX Companies makes up approximately 0.9% of First Mercantile Trust Co.’s holdings, making the stock its 14th largest holding. First Mercantile Trust Co.’s holdings in TJX Companies were worth $4,502,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Moody Aldrich Partners LLC purchased a new stake in shares of TJX Companies during the 2nd quarter worth approximately $57,774,000. LFA Lugano Financial Advisors SA bought a new position in TJX Companies in the 3rd quarter valued at $114,000. Patriot Financial Group Insurance Agency LLC bought a new position in TJX Companies in the 3rd quarter valued at $115,000. Cornerstone Advisors Inc. grew its position in TJX Companies by 280.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,114 shares of the apparel and home fashions retailer’s stock valued at $106,000 after acquiring an additional 821 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new position in TJX Companies in the 2nd quarter valued at $106,000. Institutional investors own 90.45% of the company’s stock.
A number of research firms have recently issued reports on TJX. Citigroup increased their price target on TJX Companies from $48.00 to $55.50 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Cowen restated a “buy” rating and set a $57.00 price objective on shares of TJX Companies in a research note on Tuesday, July 31st. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $53.50 price objective for the company in a research note on Wednesday, July 18th. Loop Capital restated a “hold” rating and set a $52.50 price objective on shares of TJX Companies in a research note on Tuesday, August 21st. Finally, Wells Fargo & Co upped their price objective on TJX Companies from $41.50 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. TJX Companies had a return on equity of 58.66% and a net margin of 7.88%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that TJX Companies Inc will post 2.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Thursday, November 15th will be given a $0.39 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.56 dividend on an annualized basis and a yield of 2.96%. TJX Companies’s dividend payout ratio is currently 38.61%.
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TJX Companies Company 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, 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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