Pinnacle Investment Management Ltd Takes Position in The TJX Companies, Inc. (NYSE:TJX)

Pinnacle Investment Management Ltd acquired a new stake in shares of The TJX Companies, Inc. (NYSE:TJX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the apparel and home fashions retailer’s stock, valued at approximately $2,416,000. TJX Companies makes up approximately 1.8% of Pinnacle Investment Management Ltd’s investment portfolio, making the stock its 8th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of TJX Companies in the 4th quarter worth approximately $1,670,565,000. Raymond James Financial Inc. purchased a new stake in TJX Companies in the fourth quarter valued at about $570,342,000. Capital Research Global Investors boosted its holdings in TJX Companies by 689.6% in the fourth quarter. Capital Research Global Investors now owns 2,595,085 shares of the apparel and home fashions retailer’s stock worth $313,512,000 after acquiring an additional 2,266,415 shares in the last quarter. Northern Trust Corp increased its holdings in shares of TJX Companies by 15.2% during the fourth quarter. Northern Trust Corp now owns 13,985,826 shares of the apparel and home fashions retailer’s stock valued at $1,689,628,000 after acquiring an additional 1,845,225 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in TJX Companies by 12.9% in the 4th quarter. Royal Bank of Canada now owns 12,300,919 shares of the apparel and home fashions retailer’s stock worth $1,486,074,000 after purchasing an additional 1,403,561 shares in the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Price Performance

Shares of NYSE TJX opened at $135.08 on Wednesday. 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 stock has a market capitalization of $150.90 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.75 and a beta of 0.94. The firm’s 50 day simple moving average is $125.14 and its 200-day simple moving average is $123.27. The TJX Companies, Inc. has a 12 month low of $97.53 and a 12 month high of $135.85.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. The firm had revenue of $16.35 billion for the quarter, compared to the consensus estimate of $16.24 billion. Analysts expect that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from TJX Companies’s previous quarterly dividend of $0.38. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.26%. TJX Companies’s dividend payout ratio (DPR) is 39.91%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TJX. Morgan Stanley lowered their price objective on shares of TJX Companies from $136.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Barclays raised their target price on TJX Companies from $136.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. TD Securities boosted their price target on TJX Companies from $140.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets reissued an “outperform” rating on shares of TJX Companies in a report on Wednesday. Finally, Citigroup raised TJX Companies from a “neutral” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.11.

Insider Activity at TJX Companies

In other TJX Companies news, Director Alan M. Bennett sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $123.53, for a total value of $988,240.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ernie Herrman sold 23,428 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total value of $2,882,346.84. Following the transaction, the chief executive officer now directly owns 484,189 shares of the company’s stock, valued at approximately $59,569,772.67. The trade was a 4.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.