Cypress Capital Group Reduces Position in The TJX Companies, Inc. (NYSE:TJX)

Cypress Capital Group cut its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 1.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 97,351 shares of the apparel and home fashions retailer’s stock after selling 1,444 shares during the quarter. TJX Companies accounts for about 1.3% of Cypress Capital Group’s investment portfolio, making the stock its 16th biggest holding. Cypress Capital Group’s holdings in TJX Companies were worth $10,718,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in TJX Companies during the fourth quarter valued at $1,193,438,000. Price T Rowe Associates Inc. MD raised its position in shares of TJX Companies by 35.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,317,452 shares of the apparel and home fashions retailer’s stock worth $1,249,237,000 after acquiring an additional 3,255,849 shares during the period. PineStone Asset Management Inc. raised its position in shares of TJX Companies by 134.2% in the second quarter. PineStone Asset Management Inc. now owns 5,467,797 shares of the apparel and home fashions retailer’s stock worth $602,004,000 after acquiring an additional 3,132,960 shares during the period. Vanguard Group Inc. raised its position in shares of TJX Companies by 1.3% in the first quarter. Vanguard Group Inc. now owns 97,476,558 shares of the apparel and home fashions retailer’s stock worth $9,886,073,000 after acquiring an additional 1,269,792 shares during the period. Finally, Canoe Financial LP raised its position in shares of TJX Companies by 22,145.7% in 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 acquiring an additional 1,107,287 shares during the period. 91.09% of the stock is owned by hedge funds and other institutional investors.

TJX Companies Price Performance

NYSE TJX traded up $0.47 during trading hours on Friday, hitting $119.47. 4,523,886 shares of the company’s stock traded hands, compared to its average volume of 5,595,220. The TJX Companies, Inc. has a 52-week low of $86.71 and a 52-week high of $121.06. The company has a market capitalization of $135.02 billion, a PE ratio of 29.65, a PEG ratio of 3.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.21 and a quick ratio of 0.61. The firm’s 50-day moving average is $112.08 and its 200-day moving average is $103.51.

TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. TJX Companies had a net margin of 8.56% and a return on equity of 63.19%. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.31 billion. During the same quarter in the prior year, the company earned $0.85 EPS. TJX Companies’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that The TJX Companies, Inc. will post 4.14 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.375 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.50 annualized dividend and a yield of 1.26%. TJX Companies’s dividend payout ratio is presently 37.22%.

Analyst Ratings Changes

TJX has been the subject of a number of analyst reports. Citigroup downgraded shares of TJX Companies from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $110.00 to $128.00 in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of TJX Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI upped their price objective on shares of TJX Companies from $115.00 to $126.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Morgan Stanley upped their price objective on shares of TJX Companies from $122.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Bank of America upped their price target on shares of TJX Companies from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.76.

Insider Activity at TJX Companies

In other news, Director Amy B. Lane sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $102.07, for a total value of $153,105.00. Following the completion of the sale, the director now owns 23,470 shares of the company’s stock, valued at approximately $2,395,582.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Amy B. Lane sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $102.07, for a total value of $153,105.00. Following the completion of the sale, the director now owns 23,470 shares of the company’s stock, valued at approximately $2,395,582.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Louise Greenlees sold 8,171 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $101.73, for a total transaction of $831,235.83. Following the completion of the sale, the executive vice president now directly owns 49,570 shares of the company’s stock, valued at approximately $5,042,756.10. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

TJX Companies Company 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.