Summit Global Investments Trims Position in The TJX Companies, Inc. (NYSE:TJX)

Summit Global Investments cut its holdings in shares of The TJX Companies, Inc. (NYSE:TJX) by 15.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,723 shares of the apparel and home fashions retailer’s stock after selling 3,530 shares during the quarter. Summit Global Investments’ holdings in TJX Companies were worth $2,201,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Richard W. Paul & Associates LLC purchased a new position in shares of TJX Companies during the 2nd quarter valued at approximately $25,000. Copeland Capital Management LLC purchased a new position in shares of TJX Companies during the 3rd quarter valued at approximately $30,000. New Millennium Group LLC purchased a new position in shares of TJX Companies during the 2nd quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in shares of TJX Companies during the 2nd quarter valued at approximately $37,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of TJX Companies during the 3rd quarter valued at approximately $37,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total transaction of $1,763,100.00. Following the completion of the sale, the chief executive officer now directly owns 536,148 shares in the company, valued at $63,018,835.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

TJX has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of TJX Companies from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. UBS Group lifted their target price on shares of TJX Companies from $134.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI lifted their target price on shares of TJX Companies from $115.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group lifted their target price on shares of TJX Companies from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Bank of America lifted their target price on shares of TJX Companies from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $126.76.

TJX Companies Price Performance

Shares of TJX stock opened at $117.88 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.21 and a quick ratio of 0.60. The firm’s 50-day moving average is $116.07 and its two-hundred day moving average is $110.60. The TJX Companies, Inc. has a 12 month low of $87.26 and a 12 month high of $121.13. The company has a market capitalization of $132.95 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.31 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. TJX Companies’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts predict that The TJX Companies, Inc. will post 4.15 earnings per share for the current year.

TJX Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, November 14th. TJX Companies’s dividend payout ratio is presently 36.23%.

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.