Allstate Corp Sells 155 Shares of The TJX Companies, Inc. (NYSE:TJX)

Allstate Corp lowered its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,693 shares of the apparel and home fashions retailer’s stock after selling 155 shares during the quarter. Allstate Corp’s holdings in TJX Companies were worth $346,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in TJX Companies by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 95,135,688 shares of the apparel and home fashions retailer’s stock valued at $8,455,660,000 after acquiring an additional 392,783 shares during the last quarter. FMR LLC grew its position in TJX Companies by 13.1% in the 3rd quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock valued at $4,622,514,000 after acquiring an additional 6,036,764 shares during the last quarter. Morgan Stanley grew its position in TJX Companies by 1.5% in the 3rd quarter. Morgan Stanley now owns 24,752,978 shares of the apparel and home fashions retailer’s stock valued at $2,200,045,000 after acquiring an additional 371,163 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of TJX Companies by 2.3% in the 3rd quarter. Northern Trust Corp now owns 13,734,141 shares of the apparel and home fashions retailer’s stock worth $1,220,690,000 after buying an additional 313,530 shares during the period. Finally, Norges Bank purchased a new stake in shares of TJX Companies in the 4th quarter worth $1,193,438,000. Institutional investors own 91.09% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have weighed in on TJX. Deutsche Bank Aktiengesellschaft set a $114.00 target price on TJX Companies in a report on Tuesday. UBS Group upped their target price on TJX Companies from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group upgraded TJX Companies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $100.00 to $110.00 in a report on Thursday, April 25th. Sanford C. Bernstein upped their target price on TJX Companies from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets upped their target price on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, TJX Companies currently has an average rating of “Moderate Buy” and an average price target of $110.05.

TJX Companies Stock Performance

Shares of TJX stock traded up $1.78 during mid-day trading on Friday, reaching $101.94. The stock had a trading volume of 1,749,020 shares, compared to its average volume of 5,203,387. The business’s fifty day moving average is $97.18 and its 200-day moving average is $95.01. The company has a current ratio of 1.23, a quick ratio of 0.64 and a debt-to-equity ratio of 0.38. The firm has a market cap of $115.49 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.72 and a beta of 0.87. The TJX Companies, Inc. has a 1-year low of $75.65 and a 1-year high of $104.98.

TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $12.48 billion for the quarter, compared to analyst estimates of $12.48 billion. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. On average, research analysts forecast that The TJX Companies, Inc. will post 4.05 earnings per share for the current year.

TJX Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 28th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the apparel and home fashions retailer to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.47%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is 37.22%.

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.