Montecito Bank & Trust Has $1.04 Million Position in The TJX Companies, Inc. (NYSE:TJX)

Montecito Bank & Trust increased its holdings in shares of The TJX Companies, Inc. (NYSE:TJX) by 71.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,222 shares of the apparel and home fashions retailer’s stock after purchasing an additional 4,264 shares during the period. Montecito Bank & Trust’s holdings in TJX Companies were worth $1,037,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TJX. Norges Bank acquired a new stake in TJX Companies in the 4th quarter worth $1,193,438,000. Schroder Investment Management Group raised its position in shares of TJX Companies by 350.9% during the third quarter. Schroder Investment Management Group now owns 2,078,244 shares of the apparel and home fashions retailer’s stock valued at $184,714,000 after buying an additional 1,617,367 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of TJX Companies by 105.9% in the third quarter. Qube Research & Technologies Ltd now owns 2,378,802 shares of the apparel and home fashions retailer’s stock valued at $211,428,000 after buying an additional 1,223,303 shares during the period. Nordea Investment Management AB grew its position in TJX Companies by 23.2% during the fourth quarter. Nordea Investment Management AB now owns 5,881,507 shares of the apparel and home fashions retailer’s stock worth $554,156,000 after buying an additional 1,107,937 shares in the last quarter. Finally, Canoe Financial LP grew its position in TJX Companies by 22,145.7% during the fourth quarter. Canoe Financial LP now owns 1,112,287 shares of the apparel and home fashions retailer’s stock worth $104,344,000 after buying an additional 1,107,287 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TJX shares. Barclays upped their price target on TJX Companies from $109.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. BMO Capital Markets upped their target price on TJX Companies from $110.00 to $116.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Sanford C. Bernstein raised their target price on TJX Companies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Evercore ISI set a $113.00 price target on shares of TJX Companies in a report on Tuesday, May 21st. Finally, Robert W. Baird increased their price objective on shares of TJX Companies from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.37.

TJX Companies Price Performance

TJX Companies stock opened at $110.39 on Friday. The TJX Companies, Inc. has a 52 week low of $80.15 and a 52 week high of $111.34. The firm has a market cap of $124.76 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.95 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.61 and a current ratio of 1.23. The business’s fifty day moving average is $100.40 and its two-hundred day moving average is $97.30.

TJX Companies (NYSE:TJX) last issued its quarterly earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. TJX Companies had a net margin of 8.47% and a return on equity of 64.26%. The business had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $12.48 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that The TJX Companies, Inc. will post 4.09 earnings per share for the current fiscal year.

TJX Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 15th. TJX Companies’s dividend payout ratio is currently 37.22%.

TJX Companies announced that its Board of Directors has approved a share 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 repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Kenneth Canestrari sold 20,332 shares of TJX Companies stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $2,033,200.00. Following the completion of the sale, the executive vice president now directly owns 110,893 shares of the company’s stock, valued at approximately $11,089,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $102.17, for a total transaction of $2,043,400.00. Following the transaction, the chief executive officer now directly owns 571,148 shares in the company, valued at approximately $58,354,191.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Canestrari sold 20,332 shares of TJX Companies stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total transaction of $2,033,200.00. Following the sale, the executive vice president now directly owns 110,893 shares of the company’s stock, valued at approximately $11,089,300. The disclosure for this sale can be found here. Insiders sold 50,003 shares of company stock worth $5,060,941 in the last quarter. Insiders own 0.13% of the company’s stock.

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.