Cornerstone Wealth Management LLC Increases Stock Position in The TJX Companies, Inc. (NYSE:TJX)

Cornerstone Wealth Management LLC raised its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,063 shares of the apparel and home fashions retailer’s stock after acquiring an additional 110 shares during the period. Cornerstone Wealth Management LLC’s holdings in TJX Companies were worth $732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TJX. Trivant Custom Portfolio Group LLC purchased a new stake in TJX Companies in the fourth quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of TJX Companies in the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of TJX Companies in the 3rd quarter valued at $30,000. Truvestments Capital LLC acquired a new position in TJX Companies during the 3rd quarter worth about $29,000. Finally, Copeland Capital Management LLC purchased a new position in TJX Companies during the 3rd quarter valued at about $30,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TJX has been the topic of a number of recent research reports. StockNews.com upgraded shares of TJX Companies from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of TJX Companies from $130.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their price objective on TJX Companies from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 10th. UBS Group lifted their target price on TJX Companies from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $134.00 price target on shares of TJX Companies in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, TJX Companies currently has an average rating of “Moderate Buy” and an average price target of $131.67.

TJX Companies Price Performance

Shares of TJX opened at $122.61 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.50. The TJX Companies, Inc. has a 1-year low of $92.35 and a 1-year high of $128.00. The stock has a market cap of $137.83 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.91. The firm has a fifty day moving average price of $122.84 and a 200 day moving average price of $117.86.

TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.95 billion. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. As a group, sell-side analysts anticipate that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 13th will be issued a $0.375 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.22%. TJX Companies’s payout ratio is 35.29%.

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.