M&T Bank Corp Decreases Stock Position in The TJX Companies, Inc. (NYSE:TJX)

M&T Bank Corp trimmed its position in shares of The TJX Companies, Inc. (NYSE:TJX) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 651,894 shares of the apparel and home fashions retailer’s stock after selling 21,257 shares during the quarter. M&T Bank Corp owned approximately 0.06% of TJX Companies worth $61,154,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TJX. Anchor Investment Management LLC acquired a new stake in shares of TJX Companies in the fourth quarter valued at about $28,000. BKM Wealth Management LLC purchased a new stake in TJX Companies during the 4th quarter valued at about $30,000. Larson Financial Group LLC raised its holdings in TJX Companies by 76.0% in the 3rd quarter. Larson Financial Group LLC now owns 389 shares of the apparel and home fashions retailer’s stock valued at $35,000 after acquiring an additional 168 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in TJX Companies in the 4th quarter worth approximately $40,000. Finally, Gradient Investments LLC boosted its holdings in shares of TJX Companies by 86.7% during the 4th quarter. Gradient Investments LLC now owns 478 shares of the apparel and home fashions retailer’s stock worth $45,000 after purchasing an additional 222 shares during the last quarter. 91.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the sale, the chief executive officer now owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Louise Greenlees sold 2,694 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the sale, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the firm’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 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. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

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

TJX Companies Stock Up 0.2 %

TJX traded up $0.20 during trading hours on Friday, hitting $95.11. 5,894,076 shares of the company’s stock were exchanged, compared to its average volume of 5,182,456. The firm has a market cap of $107.76 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 2.45 and a beta of 0.87. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The TJX Companies, Inc. has a 12-month low of $75.65 and a 12-month high of $102.84. The firm has a 50 day moving average of $96.94 and a 200 day moving average of $94.06.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Analysts predict that The TJX Companies, Inc. will post 4.07 EPS for the current fiscal year.

TJX Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Wednesday, May 15th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio (DPR) is 34.46%.

TJX Companies declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 28th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the apparel and home fashions retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.