Covington Capital Management increased its position in shares of TJX Companies Inc (NYSE:TJX) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,366 shares of the apparel and home fashions retailer’s stock after buying an additional 4,807 shares during the quarter. Covington Capital Management’s holdings in TJX Companies were worth $7,674,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Beacon Financial Group purchased a new position in TJX Companies during the 4th quarter worth approximately $1,777,000. Lenox Wealth Management Inc. grew its stake in TJX Companies by 75.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 3,427 shares of the apparel and home fashions retailer’s stock worth $252,000 after buying an additional 1,470 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in TJX Companies during the 3rd quarter worth approximately $628,000. First Citizens Bank & Trust Co. grew its stake in TJX Companies by 55.5% during the 4th quarter. First Citizens Bank & Trust Co. now owns 5,132 shares of the apparel and home fashions retailer’s stock worth $392,000 after buying an additional 1,832 shares during the last quarter. Finally, Hexavest Inc. grew its stake in TJX Companies by 1.7% during the 4th quarter. Hexavest Inc. now owns 629,870 shares of the apparel and home fashions retailer’s stock worth $48,160,000 after buying an additional 10,632 shares during the last quarter. Hedge funds and other institutional investors own 91.07% of the company’s stock.
TJX Companies Inc (NYSE TJX) traded down $0.03 on Wednesday, hitting $82.27. The stock had a trading volume of 236,704 shares, compared to its average volume of 4,598,643. The company has a quick ratio of 0.84, a current ratio of 1.66 and a debt-to-equity ratio of 0.43. The firm has a market cap of $52,145.99, a PE ratio of 20.37, a P/E/G ratio of 1.64 and a beta of 0.68. TJX Companies Inc has a 1-year low of $66.44 and a 1-year high of $84.79.
TJX Companies announced that its board has approved a stock repurchase plan on Wednesday, February 28th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently issued reports on the company. Cowen set a $92.00 price target on TJX Companies and gave the stock a “buy” rating in a research note on Thursday, March 1st. Royal Bank of Canada set a $91.00 target price on TJX Companies and gave the company a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded TJX Companies from a “buy” rating to a “hold” rating in a research note on Monday, March 5th. Northcoast Research set a $90.00 target price on TJX Companies and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Deutsche Bank lifted their target price on TJX Companies from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, March 1st. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $87.30.
In other news, CEO Ernie Herrman sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $83.64, for a total value of $920,040.00. Following the completion of the sale, the chief executive officer now directly owns 454,821 shares of the company’s stock, valued at approximately $38,041,228.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy B. Lane sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $82.81, for a total value of $82,810.00. Following the completion of the sale, the director now directly owns 15,998 shares of the company’s stock, valued at $1,324,794.38. The disclosure for this sale can be found here. Insiders sold a total of 65,020 shares of company stock valued at $5,446,635 over the last three months. Insiders own 0.23% of the company’s stock.
WARNING: This article was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/covington-capital-management-grows-position-in-tjx-companies-inc-tjx.html.
TJX Companies Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
Receive News & Ratings for TJX Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TJX Companies and related companies with MarketBeat.com's FREE daily email newsletter.