Covenant Asset Management LLC Cuts Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Covenant Asset Management LLC lowered its position in shares of The TJX Companies, Inc. (NYSE:TJX) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,363 shares of the apparel and home fashions retailer’s stock after selling 396 shares during the period. Covenant Asset Management LLC’s holdings in TJX Companies were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of TJX Companies by 1.0% during the third quarter. State Street Corp now owns 47,556,435 shares of the apparel and home fashions retailer’s stock worth $5,589,783,000 after purchasing an additional 469,287 shares in the last quarter. Geode Capital Management LLC boosted its stake in TJX Companies by 1.5% in the third quarter. Geode Capital Management LLC now owns 23,857,584 shares of the apparel and home fashions retailer’s stock valued at $2,795,121,000 after acquiring an additional 363,707 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in TJX Companies by 7.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,182,564 shares of the apparel and home fashions retailer’s stock valued at $1,079,319,000 after acquiring an additional 643,833 shares in the last quarter. Franklin Resources Inc. boosted its stake in TJX Companies by 9.9% in the third quarter. Franklin Resources Inc. now owns 7,271,499 shares of the apparel and home fashions retailer’s stock valued at $837,951,000 after acquiring an additional 657,529 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in TJX Companies by 13.3% in the fourth quarter. Nordea Investment Management AB now owns 7,031,237 shares of the apparel and home fashions retailer’s stock valued at $850,428,000 after acquiring an additional 827,103 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of TJX Companies from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 10th. Telsey Advisory Group reiterated an “outperform” rating and set a $134.00 target price on shares of TJX Companies in a research note on Friday, December 6th. Guggenheim increased their target price on shares of TJX Companies from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. TD Cowen increased their target price on shares of TJX Companies from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group increased their target price on shares of TJX Companies from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.53.

TJX Companies Stock Down 1.2 %

Shares of NYSE TJX opened at $124.33 on Friday. The TJX Companies, Inc. has a 1 year low of $92.35 and a 1 year high of $128.00. The firm’s 50 day moving average price is $123.20 and its 200 day moving average price is $119.03. The firm has a market cap of $139.77 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.19.

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

TJX Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 13th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, February 13th. TJX Companies’s dividend payout ratio (DPR) 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.