Independence Bank of Kentucky Raises Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Independence Bank of Kentucky raised its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 1.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,088 shares of the apparel and home fashions retailer’s stock after acquiring an additional 293 shares during the period. Independence Bank of Kentucky’s holdings in TJX Companies were worth $2,690,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TJX. Shell Asset Management Co. boosted its holdings in TJX Companies by 16.5% in the fourth quarter. Shell Asset Management Co. now owns 29,168 shares of the apparel and home fashions retailer’s stock worth $3,524,000 after purchasing an additional 4,128 shares during the last quarter. Pathstone Holdings LLC raised its stake in TJX Companies by 10.1% during the 4th quarter. Pathstone Holdings LLC now owns 736,616 shares of the apparel and home fashions retailer’s stock valued at $88,992,000 after buying an additional 67,853 shares during the last quarter. Ethic Inc. lifted its holdings in shares of TJX Companies by 21.1% during the 4th quarter. Ethic Inc. now owns 167,169 shares of the apparel and home fashions retailer’s stock valued at $20,196,000 after buying an additional 29,158 shares during the period. Fiduciary Trust Co boosted its stake in shares of TJX Companies by 5.2% in the 4th quarter. Fiduciary Trust Co now owns 2,891,186 shares of the apparel and home fashions retailer’s stock worth $349,284,000 after buying an additional 144,113 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of TJX Companies by 1.1% in the 4th quarter. Congress Asset Management Co. now owns 1,228,840 shares of the apparel and home fashions retailer’s stock worth $148,456,000 after buying an additional 13,036 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Stock Up 0.9%

TJX opened at $128.55 on Friday. The stock has a market cap of $143.60 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.19. The firm’s fifty day moving average is $127.63 and its 200 day moving average is $124.11. The TJX Companies, Inc. has a fifty-two week low of $106.18 and a fifty-two week high of $135.85.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The business had revenue of $13.11 billion for the quarter, compared to analysts’ expectations of $13.01 billion. During the same period last year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that The TJX Companies, Inc. will post 4.18 earnings per share for the current fiscal year.

TJX Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, May 15th. This is an increase from TJX Companies’s previous quarterly dividend of $0.38. TJX Companies’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup upgraded TJX Companies from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 21st. Loop Capital set a $150.00 price target on TJX Companies and gave the company a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley set a $140.00 price objective on shares of TJX Companies and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. BMO Capital Markets reissued an “outperform” rating on shares of TJX Companies in a report on Wednesday, May 21st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of TJX Companies in a report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Insider Buying and Selling

In related news, Director Amy B. Lane sold 950 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $128.09, for a total transaction of $121,685.50. Following the completion of the transaction, the director now owns 22,712 shares in the company, valued at approximately $2,909,180.08. This represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

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.