FFT Wealth Management LLC Takes $69.23 Million Position in The TJX Companies, Inc. (NYSE:TJX)

FFT Wealth Management LLC acquired a new position in shares of The TJX Companies, Inc. (NYSE:TJX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 737,998 shares of the apparel and home fashions retailer’s stock, valued at approximately $69,232,000. TJX Companies accounts for approximately 6.0% of FFT Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. FFT Wealth Management LLC owned approximately 0.06% of TJX Companies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TJX. Vanguard Group Inc. lifted its holdings in TJX Companies by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 95,135,688 shares of the apparel and home fashions retailer’s stock worth $8,455,660,000 after buying an additional 392,783 shares in the last quarter. FMR LLC raised its stake in shares of TJX Companies by 13.1% in the third 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 in the last quarter. Morgan Stanley boosted its holdings in TJX Companies by 1.5% in the third 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 purchasing an additional 371,163 shares during the period. Northern Trust Corp grew its stake in TJX Companies by 2.3% during 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 purchasing an additional 313,530 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in TJX Companies by 0.9% during the 3rd quarter. Jennison Associates LLC now owns 9,054,237 shares of the apparel and home fashions retailer’s stock worth $804,741,000 after purchasing an additional 83,643 shares during the period. Hedge funds and other institutional investors own 91.09% of the company’s stock.

Analyst Ratings Changes

TJX has been the topic of several recent analyst reports. Redburn Atlantic lowered TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Monday, February 5th. UBS Group boosted their price objective on shares of TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $105.00 target price on shares of TJX Companies in a research report on Wednesday, February 28th. BMO Capital Markets boosted their price target on shares of TJX Companies from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $110.00 in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, TJX Companies has an average rating of “Moderate Buy” and a consensus price target of $102.65.

TJX Companies Price Performance

Shares of TJX Companies stock traded down $0.31 during trading on Wednesday, reaching $93.78. The company’s stock had a trading volume of 5,363,920 shares, compared to its average volume of 5,058,488. The TJX Companies, Inc. has a 12-month low of $75.65 and a 12-month high of $102.84. 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 business has a 50 day moving average price of $97.20 and a 200-day moving average price of $94.02. The company has a market capitalization of $106.25 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.86.

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

TJX Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, May 15th. This is an increase from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s payout ratio is 34.46%.

TJX Companies declared that its Board of Directors has initiated a share buyback 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 repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 515,801 shares in the company, valued at approximately $51,053,982.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the 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 directly owns 515,801 shares in the company, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

TJX Companies Company Profile

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.