Suncoast Equity Management Grows Position in The TJX Companies, Inc. (NYSE:TJX)

Suncoast Equity Management grew its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,495 shares of the apparel and home fashions retailer’s stock after buying an additional 1,280 shares during the period. TJX Companies accounts for 0.3% of Suncoast Equity Management’s investment portfolio, making the stock its 28th biggest position. Suncoast Equity Management’s holdings in TJX Companies were worth $2,392,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. First American Trust FSB acquired a new stake in shares of TJX Companies during the fourth quarter worth $261,000. Hamilton Point Investment Advisors LLC lifted its stake in shares of TJX Companies by 1.5% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 108,382 shares of the apparel and home fashions retailer’s stock worth $10,167,000 after purchasing an additional 1,628 shares in the last quarter. Donaldson Capital Management LLC lifted its stake in shares of TJX Companies by 28.7% during the fourth quarter. Donaldson Capital Management LLC now owns 5,308 shares of the apparel and home fashions retailer’s stock worth $498,000 after purchasing an additional 1,184 shares in the last quarter. Flputnam Investment Management Co. lifted its stake in shares of TJX Companies by 91.1% during the fourth quarter. Flputnam Investment Management Co. now owns 304,386 shares of the apparel and home fashions retailer’s stock worth $28,554,000 after purchasing an additional 145,124 shares in the last quarter. Finally, Capital Analysts LLC lifted its stake in shares of TJX Companies by 2.5% during the fourth quarter. Capital Analysts LLC now owns 5,939 shares of the apparel and home fashions retailer’s stock worth $558,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Price Performance

Shares of NYSE TJX traded up $0.85 during mid-day trading on Tuesday, hitting $93.83. 1,371,351 shares of the stock were exchanged, compared to its average volume of 5,014,471. The company has a market cap of $106.31 billion, a P/E ratio of 24.09, a PEG ratio of 2.43 and a beta of 0.86. The stock’s fifty day simple moving average is $97.97 and its two-hundred day simple moving average is $93.57. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21. The TJX Companies, Inc. has a twelve month low of $75.65 and a twelve month high of $102.84.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share 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 company had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.20 billion. During the same quarter last year, the business posted $0.89 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, analysts forecast that The TJX Companies, Inc. will post 4.07 EPS for the current fiscal 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 given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is currently 34.46%.

TJX Companies announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

TJX has been the topic of a number of recent research reports. 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 research note on Monday, February 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $105.00 target price on shares of TJX Companies in a research report on Wednesday, February 28th. BMO Capital Markets boosted 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. Finally, UBS Group lifted their target price on TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, TJX Companies currently has an average rating of “Moderate Buy” and an average target price of $102.19.

Insider Transactions at TJX Companies

In other news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the transaction, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction on 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 in the company, valued at $4,968,480.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction 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 completion of the sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

TJX Companies 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.