abrdn plc Decreases Holdings in The TJX Companies, Inc. (NYSE:TJX)

abrdn plc lowered its stake in shares of The TJX Companies, Inc. (NYSE:TJX) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,266,799 shares of the apparel and home fashions retailer’s stock after selling 2,178,062 shares during the period. abrdn plc’s holdings in TJX Companies were worth $212,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Anchor Investment Management LLC acquired a new stake in TJX Companies during the 4th quarter worth $28,000. BKM Wealth Management LLC acquired a new position in TJX Companies during the fourth quarter worth about $30,000. ICA Group Wealth Management LLC purchased a new stake in TJX Companies during the 4th quarter valued at about $27,000. Cornerstone Planning Group LLC acquired a new stake in TJX Companies in the 2nd quarter valued at about $33,000. Finally, Larson Financial Group LLC lifted its stake in TJX Companies by 76.0% in the 3rd quarter. Larson Financial Group LLC now owns 389 shares of the apparel and home fashions retailer’s stock worth $35,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

Insider Activity

In related news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the sale, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction on Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the transaction, the executive vice president now directly owns 50,273 shares in the company, valued at $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the sale, the chief executive officer now owns 515,801 shares in the company, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

TJX Companies Trading Up 0.8 %

TJX Companies stock traded up $0.70 during trading on Friday, hitting $93.36. The company had a trading volume of 6,043,994 shares, compared to its average volume of 4,780,190. The stock has a market cap of $105.77 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The TJX Companies, Inc. has a 1-year low of $75.65 and a 1-year high of $102.84. The company’s 50 day simple moving average is $97.58 and its 200-day simple moving average is $93.62.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The business had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.20 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, analysts expect that The TJX Companies, Inc. will post 4.07 EPS for the current fiscal year.

TJX Companies declared that its board has approved a stock repurchase program on Wednesday, February 28th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the apparel and home fashions retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

TJX Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio is currently 34.46%.

Analyst Ratings Changes

TJX has been the topic of several recent research reports. Telsey Advisory Group restated an “outperform” rating and set a $105.00 target price on shares of TJX Companies in a report on Wednesday, February 28th. Redburn Atlantic lowered TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research note on Monday, February 5th. BMO Capital Markets raised their target price on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, UBS Group lifted their price target on TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.19.

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.