Provence Wealth Management Group Raises Position in The TJX Companies, Inc. (NYSE:TJX)

Provence Wealth Management Group boosted its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,088 shares of the apparel and home fashions retailer’s stock after buying an additional 260 shares during the period. Provence Wealth Management Group’s holdings in TJX Companies were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TJX. Tandem Investment Advisors Inc. lifted its holdings in shares of TJX Companies by 1.8% during the 4th quarter. Tandem Investment Advisors Inc. now owns 5,846 shares of the apparel and home fashions retailer’s stock valued at $548,000 after purchasing an additional 106 shares during the last quarter. Alhambra Investment Management LLC grew its stake in shares of TJX Companies by 2.0% during the fourth quarter. Alhambra Investment Management LLC now owns 5,433 shares of the apparel and home fashions retailer’s stock worth $510,000 after acquiring an additional 108 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in shares of TJX Companies by 9.9% during the fourth quarter. J.Safra Asset Management Corp now owns 1,196 shares of the apparel and home fashions retailer’s stock valued at $112,000 after acquiring an additional 108 shares in the last quarter. BSW Wealth Partners raised its position in shares of TJX Companies by 2.0% in the 4th quarter. BSW Wealth Partners now owns 5,623 shares of the apparel and home fashions retailer’s stock valued at $528,000 after purchasing an additional 109 shares during the last quarter. Finally, Insight Advisors LLC PA boosted its stake in TJX Companies by 3.1% in the 4th quarter. Insight Advisors LLC PA now owns 3,757 shares of the apparel and home fashions retailer’s stock worth $352,000 after purchasing an additional 112 shares in the last quarter. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

TJX Companies Price Performance

Shares of NYSE:TJX traded up $0.20 during trading on Friday, reaching $95.11. 5,894,076 shares of the company’s stock traded hands, compared to its average volume of 5,182,456. The company has a quick ratio of 0.64, a current ratio of 1.21 and a debt-to-equity ratio of 0.39. The TJX Companies, Inc. has a fifty-two week low of $75.65 and a fifty-two week high of $102.84. The company has a 50-day simple moving average of $96.94 and a 200-day simple moving average of $94.06. The firm has a market cap of $107.76 billion, a PE ratio of 24.64, a P/E/G ratio of 2.44 and a beta of 0.87.

TJX Companies (NYSE:TJX) last announced its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.20 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. As a group, analysts predict that The TJX Companies, Inc. will post 4.07 earnings per share for the current year.

TJX Companies announced that its board has initiated a stock buyback program on Wednesday, February 28th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the apparel and home fashions retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

TJX Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio is presently 34.46%.

Insider Activity

In related news, CEO Ernie Herrman sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the sale, the chief executive officer now directly owns 515,801 shares in the company, valued at $51,053,982.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction that occurred on Friday, March 1st. The stock was 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 in the company, valued at $4,968,480.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the transaction, the chief executive officer now owns 515,801 shares in the company, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TJX. UBS Group raised shares of TJX Companies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $104.00 to $132.00 in a report on Thursday. Redburn Atlantic cut TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Monday, February 5th. BMO Capital Markets increased their price objective on TJX Companies from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $105.00 target price on shares of TJX Companies in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group upgraded shares of TJX Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $110.00 in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, TJX Companies has a consensus rating of “Moderate Buy” and an average target price of $104.29.

About TJX Companies

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.