Geneva Partners LLC Has $3.78 Million Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Geneva Partners LLC lifted its stake in The TJX Companies, Inc. (NYSE:TJX) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,308 shares of the apparel and home fashions retailer’s stock after acquiring an additional 2,340 shares during the quarter. TJX Companies makes up 2.1% of Geneva Partners LLC’s portfolio, making the stock its 21st biggest holding. Geneva Partners LLC’s holdings in TJX Companies were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TJX. Fairfield Bush & CO. acquired a new position in shares of TJX Companies in the first quarter worth $68,000. United Bank increased its stake in shares of TJX Companies by 9.2% in the first quarter. United Bank now owns 15,197 shares of the apparel and home fashions retailer’s stock worth $921,000 after acquiring an additional 1,284 shares during the last quarter. AMI Investment Management Inc. acquired a new position in shares of TJX Companies in the first quarter worth $2,780,000. Cetera Investment Advisers increased its stake in shares of TJX Companies by 69.0% in the first quarter. Cetera Investment Advisers now owns 38,304 shares of the apparel and home fashions retailer’s stock worth $2,320,000 after acquiring an additional 15,644 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of TJX Companies by 10.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,396 shares of the apparel and home fashions retailer’s stock worth $266,000 after acquiring an additional 398 shares during the last quarter. 91.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TJX shares. BMO Capital Markets upped their price objective on shares of TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Redburn Atlantic cut shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price objective for the company. in a report on Monday, February 5th. UBS Group upped their price objective on shares of TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $105.00 price objective on shares of TJX Companies in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, TJX Companies currently has an average rating of “Moderate Buy” and an average price target of $102.19.

TJX Companies Stock Performance

Shares of NYSE TJX traded up $0.70 during mid-day trading on Friday, hitting $93.36. The company had a trading volume of 6,016,372 shares, compared to its average volume of 5,038,122. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.64. The business’s 50-day simple moving average is $97.58 and its 200-day simple moving average is $93.62. The TJX Companies, Inc. has a 12 month low of $75.65 and a 12 month high of $102.84. The firm has a market cap of $105.77 billion, a P/E ratio of 24.19, a PEG ratio of 2.40 and a beta of 0.86.

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

TJX Companies Increases Dividend

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

TJX Companies announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $98.98, for a total value of $1,979,600.00. Following the completion of the transaction, the chief executive officer now owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction dated Friday, March 1st. The shares were 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 owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the transaction, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.