Daiwa Securities Group Inc. Purchases 9,895 Shares of The TJX Companies, Inc. (NYSE:TJX)

Daiwa Securities Group Inc. boosted its position in shares of The TJX Companies, Inc. (NYSE:TJX) by 9.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 119,994 shares of the apparel and home fashions retailer’s stock after purchasing an additional 9,895 shares during the period. Daiwa Securities Group Inc.’s holdings in TJX Companies were worth $11,256,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in TJX Companies during the 4th quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC bought a new position in TJX Companies during the 3rd quarter valued at about $29,000. BKM Wealth Management LLC bought a new position in TJX Companies during the 4th quarter valued at about $30,000. ICA Group Wealth Management LLC bought a new position in TJX Companies during the 4th quarter valued at about $27,000. Finally, Cornerstone Planning Group LLC bought a new position in TJX Companies during the 2nd quarter valued at about $33,000. 91.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TJX. Redburn Atlantic downgraded shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Monday, February 5th. UBS Group boosted their target price on shares of TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $105.00 target price on shares of TJX Companies in a research note on Wednesday, February 28th. Finally, BMO Capital Markets boosted their price target on shares of TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.19.

TJX Companies Stock Performance

NYSE TJX opened at $93.47 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average price is $97.80 and its two-hundred day moving average price is $93.59. The TJX Companies, Inc. has a 1 year low of $75.65 and a 1 year high of $102.84. The firm has a market capitalization of $105.90 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.40 and a beta of 0.86.

TJX Companies (NYSE:TJX) last posted its quarterly 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 firm 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 firm posted $0.89 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that The TJX Companies, Inc. will post 4.07 EPS for the current year.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given 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 annualized dividend and a dividend yield of 1.60%. TJX Companies’s dividend payout ratio is presently 38.86%.

TJX Companies announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 28th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the apparel and home fashions retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $98.98, for a total value of $1,979,600.00. Following the transaction, the chief executive officer now directly owns 515,801 shares in the company, valued at $51,053,982.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following 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.