The TJX Cos. (TJX) Stake Increased by Dock Street Asset Management Inc.
Dock Street Asset Management Inc. raised its stake in The TJX Cos. (NYSE:TJX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,048 shares of the apparel and home fashions retailer’s stock after buying an additional 904 shares during the period. The TJX Cos. accounts for approximately 12.2% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. Dock Street Asset Management Inc.’s holdings in The TJX Cos. were worth $13,751,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Diker Management LLC purchased a new position in The TJX Cos. during the first quarter valued at $213,000. Douglas Lane & Associates LLC bought a new stake in The TJX Cos. during the second quarter valued at about $218,000. Atria Investments LLC bought a new stake in The TJX Cos. during the second quarter valued at about $220,000. M&R Capital Management Inc. bought a new stake in The TJX Cos. during the first quarter valued at about $224,000. Finally, Cacti Asset Management LLC bought a new stake in The TJX Cos. during the second quarter valued at about $232,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.
The TJX Cos. (NYSE:TJX) traded up 0.05% during mid-day trading on Tuesday, reaching $74.39. The company’s stock had a trading volume of 2,712,790 shares. The firm has a market cap of $48.85 billion, a PE ratio of 21.60 and a beta of 0.65. The stock’s 50 day moving average is $76.70 and its 200 day moving average is $77.32. The TJX Cos. has a one year low of $63.53 and a one year high of $83.64.
The TJX Cos. (NYSE:TJX) last released its quarterly earnings results on Tuesday, August 16th. The apparel and home fashions retailer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The TJX Cos. had a return on equity of 52.69% and a net margin of 7.23%. The company had revenue of $7.88 billion for the quarter, compared to analysts’ expectations of $7.85 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that The TJX Cos. will post $3.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, November 8th. The TJX Cos.’s payout ratio is currently 30.15%.
TJX has been the subject of several analyst reports. Nomura reaffirmed a “buy” rating and issued a $85.00 price objective on shares of The TJX Cos. in a research note on Wednesday, August 17th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of The TJX Cos. in a research note on Monday, June 27th. Miller Tabak initiated coverage on The TJX Cos. in a research note on Friday, June 24th. They issued a “buy” rating and a $91.00 price objective for the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of The TJX Cos. in a research note on Tuesday, June 14th. Finally, Zacks Investment Research raised The TJX Cos. from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, July 5th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The TJX Cos. has an average rating of “Buy” and an average price target of $83.44.
The TJX Cos. Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States are collectively the off-price retailer in the United States with a total of approximately 2,163 stores.
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