GAMMA Investing LLC Invests $802,000 in The TJX Companies, Inc. (NYSE:TJX)

GAMMA Investing LLC bought a new stake in The TJX Companies, Inc. (NYSE:TJX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,452 shares of the apparel and home fashions retailer’s stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TJX. Anchor Investment Management LLC acquired a new position in shares of TJX Companies during the fourth quarter worth about $28,000. BKM Wealth Management LLC purchased a new stake in shares of TJX Companies during the fourth quarter worth about $30,000. Larson Financial Group LLC increased its holdings in TJX Companies by 76.0% in the third quarter. Larson Financial Group LLC now owns 389 shares of the apparel and home fashions retailer’s stock valued at $35,000 after buying an additional 168 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in TJX Companies in the fourth quarter valued at about $40,000. Finally, Steward Financial Group LLC increased its holdings in TJX Companies by 56.5% in the third quarter. Steward Financial Group LLC now owns 493 shares of the apparel and home fashions retailer’s stock valued at $43,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

TJX Companies Price Performance

Shares of TJX traded up $0.45 during trading hours on Tuesday, hitting $94.53. 5,843,601 shares of the company were exchanged, compared to its average volume of 5,036,606. The company has a market capitalization of $107.10 billion, a PE ratio of 24.37, a PEG ratio of 2.40 and a beta of 0.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.64. The firm has a fifty day simple moving average of $97.50 and a 200-day simple moving average of $93.74. The TJX Companies, Inc. has a one year low of $75.65 and a one year high of $102.84.

TJX Companies (NYSE:TJX) last released its 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 analyst estimates of $16.20 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. As a group, sell-side analysts predict that The TJX Companies, Inc. will post 4.07 earnings per share for the current year.

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

TJX Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.59%. This is an increase from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio is presently 34.46%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TJX shares. UBS Group increased their price target on TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Redburn Atlantic cut TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Monday, February 5th. Telsey Advisory Group reiterated an “outperform” rating and set a $105.00 price target on shares of TJX Companies in a research report on Wednesday, February 28th. Finally, BMO Capital Markets increased their price objective on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, TJX Companies currently has an average rating of “Moderate Buy” and an average target price of $102.19.

About TJX Companies

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.