Mackenzie Financial Corp Lowers Stake in The TJX Companies, Inc. (NYSE:TJX)

Mackenzie Financial Corp lowered its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,816,245 shares of the apparel and home fashions retailer’s stock after selling 42,172 shares during the period. Mackenzie Financial Corp owned 0.16% of TJX Companies worth $170,382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Bison Wealth LLC lifted its holdings in TJX Companies by 2.5% during the fourth quarter. Bison Wealth LLC now owns 10,435 shares of the apparel and home fashions retailer’s stock worth $979,000 after buying an additional 257 shares during the period. Dakota Wealth Management lifted its holdings in TJX Companies by 115.5% during the fourth quarter. Dakota Wealth Management now owns 53,371 shares of the apparel and home fashions retailer’s stock worth $5,007,000 after buying an additional 28,610 shares during the period. Cullen Investment Group LTD. purchased a new stake in shares of TJX Companies during the 4th quarter valued at $1,700,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of TJX Companies during the 4th quarter valued at $40,000. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of TJX Companies during the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Trading Down 1.5 %

TJX stock opened at $92.98 on Tuesday. The company’s 50-day simple moving average is $97.97 and its 200-day simple moving average is $93.57. 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 52-week low of $75.65 and a 52-week high of $102.84. The firm has a market cap of $105.34 billion, a P/E ratio of 24.09, a PEG ratio of 2.43 and a beta of 0.86.

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

TJX Companies declared that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. This represents a $1.50 dividend on an annualized basis and a yield of 1.61%. TJX Companies’s dividend payout ratio (DPR) is currently 34.46%.

Insider Activity at TJX Companies

In related 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 value of $266,248.02. Following the transaction, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 value of $266,248.02. Following the transaction, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group increased their price objective on TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $105.00 price objective on shares of TJX Companies in a report on Wednesday, February 28th. Redburn Atlantic lowered TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price objective for the company. in a report on Monday, February 5th. Finally, 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. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.19.

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.