Suntrust Banks Inc. lessened its stake in shares of TJX Companies Inc (NYSE:TJX) by 1.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 144,303 shares of the apparel and home fashions retailer’s stock after selling 2,060 shares during the period. Suntrust Banks Inc.’s holdings in TJX Companies were worth $11,768,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Farmers National Bank purchased a new stake in TJX Companies during the 4th quarter valued at $106,000. Icon Wealth Partners LLC purchased a new stake in TJX Companies during the 4th quarter valued at $109,000. Truewealth LLC purchased a new stake in TJX Companies during the 4th quarter valued at $119,000. CNB Bank raised its holdings in TJX Companies by 906.5% during the 1st quarter. CNB Bank now owns 1,691 shares of the apparel and home fashions retailer’s stock valued at $138,000 after buying an additional 1,523 shares during the period. Finally, Princeton Capital Management LLC purchased a new stake in TJX Companies during the 1st quarter valued at $148,000. Institutional investors own 90.24% of the company’s stock.
Shares of TJX stock opened at $95.08 on Friday. TJX Companies Inc has a 1-year low of $66.44 and a 1-year high of $96.82. The stock has a market cap of $60.20 billion, a P/E ratio of 22.14, a P/E/G ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.69.
TJX Companies announced that its board has approved a share repurchase plan on Wednesday, February 28th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 6th. Investors of record on Thursday, August 16th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, August 15th. TJX Companies’s payout ratio is currently 38.61%.
In other TJX Companies news, EVP Richard Sherr sold 20,000 shares of the stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $83.67, for a total value of $1,673,400.00. Following the completion of the sale, the executive vice president now directly owns 92,715 shares in the company, valued at $7,757,464.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amy B. Lane sold 500 shares of the stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $88.05, for a total value of $44,025.00. Following the completion of the sale, the director now owns 15,498 shares of the company’s stock, valued at $1,364,598.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,064 shares of company stock worth $3,269,567. 0.22% of the stock is owned by corporate insiders.
TJX has been the topic of several recent research reports. Buckingham Research increased their price target on TJX Companies from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 23rd. Royal Bank of Canada set a $91.00 price objective on TJX Companies and gave the company a “buy” rating in a research report on Thursday, March 1st. Morgan Stanley upped their price objective on TJX Companies from $86.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, March 2nd. Credit Suisse Group upped their price objective on TJX Companies from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, May 23rd. Finally, Nomura set a $87.00 price objective on TJX Companies and gave the company a “buy” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. TJX Companies has an average rating of “Buy” and a consensus target price of $90.46.
TJX Companies 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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