Summit Financial LLC Buys 13,614 Shares of The TJX Companies, Inc. (NYSE:TJX)

Summit Financial LLC boosted its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 90.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,704 shares of the apparel and home fashions retailer’s stock after purchasing an additional 13,614 shares during the period. Summit Financial LLC’s holdings in TJX Companies were worth $3,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC boosted its stake in shares of TJX Companies by 260.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 245 shares of the apparel and home fashions retailer’s stock worth $25,000 after buying an additional 177 shares during the last quarter. Richard W. Paul & Associates LLC bought a new position in TJX Companies in the second quarter valued at about $25,000. Frazier Financial Advisors LLC purchased a new position in TJX Companies in the fourth quarter worth about $27,000. First Pacific Financial bought a new stake in shares of TJX Companies during the 1st quarter valued at about $29,000. Finally, OFI Invest Asset Management purchased a new stake in shares of TJX Companies during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Price Performance

Shares of TJX Companies stock traded down $0.10 during trading on Friday, reaching $117.27. 6,369,587 shares of the stock traded hands, compared to its average volume of 5,793,723. The business has a fifty day simple moving average of $112.92 and a two-hundred day simple moving average of $104.19. The TJX Companies, Inc. has a 52-week low of $86.71 and a 52-week high of $121.13. The company has a market capitalization of $132.53 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 2.96 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 0.60.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. TJX Companies had a return on equity of 63.19% and a net margin of 8.56%. The business had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.31 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that The TJX Companies, Inc. will post 4.15 EPS for the current year.

TJX Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders 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 1.28%. The ex-dividend date of this dividend is Thursday, August 15th. TJX Companies’s dividend payout ratio (DPR) is 37.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TJX shares. TD Cowen raised their price objective on shares of TJX Companies from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Robert W. Baird boosted their price objective on shares of TJX Companies from $113.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. StockNews.com cut TJX Companies from a “buy” rating to a “hold” rating in a report on Thursday. Barclays boosted their price target on TJX Companies from $114.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, BMO Capital Markets raised their price objective on TJX Companies from $116.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, TJX Companies presently has an average rating of “Moderate Buy” and an average price target of $126.76.

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.