Meridian Wealth Management LLC Makes New Investment in The TJX Companies, Inc. (NYSE:TJX)

Meridian Wealth Management LLC acquired a new stake in shares of The TJX Companies, Inc. (NYSE:TJX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 7,552 shares of the apparel and home fashions retailer’s stock, valued at approximately $888,000.

Other large investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. boosted its position in TJX Companies by 12.4% during the third quarter. First Trust Direct Indexing L.P. now owns 47,104 shares of the apparel and home fashions retailer’s stock valued at $5,537,000 after buying an additional 5,207 shares during the period. Swedbank AB grew its position in TJX Companies by 45.9% during the 2nd quarter. Swedbank AB now owns 1,041,982 shares of the apparel and home fashions retailer’s stock worth $114,722,000 after acquiring an additional 327,684 shares during the last quarter. EP Wealth Advisors LLC increased its stake in TJX Companies by 229.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 221,497 shares of the apparel and home fashions retailer’s stock worth $24,387,000 after purchasing an additional 154,342 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of TJX Companies during the second quarter valued at approximately $2,310,000. Finally, Transform Wealth LLC boosted its stake in shares of TJX Companies by 10.2% during the third quarter. Transform Wealth LLC now owns 92,705 shares of the apparel and home fashions retailer’s stock valued at $10,897,000 after purchasing an additional 8,553 shares during the period. 91.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TJX shares. Citigroup lowered shares of TJX Companies from a “buy” rating to a “neutral” rating and upped their price target for the company from $110.00 to $128.00 in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of TJX Companies from $130.00 to $131.00 and gave the company a “buy” rating in a research note on Thursday. Telsey Advisory Group restated an “outperform” rating and set a $134.00 price target on shares of TJX Companies in a report on Wednesday. TD Cowen upped their price target on TJX Companies from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird lifted their price objective on TJX Companies from $113.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.47.

TJX Companies Stock Up 1.4 %

NYSE:TJX opened at $121.47 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.60. The firm’s 50-day moving average price is $116.52 and its 200-day moving average price is $112.41. The company has a market capitalization of $137.00 billion, a PE ratio of 28.58, a P/E/G ratio of 3.05 and a beta of 0.89. The TJX Companies, Inc. has a 1-year low of $87.44 and a 1-year high of $122.10.

TJX Companies (NYSE:TJX) last released its earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.95 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, November 14th. TJX Companies’s dividend payout ratio (DPR) is 35.29%.

Insider Transactions at TJX Companies

In other news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $117.54, for a total value of $1,763,100.00. Following the completion of the transaction, the chief executive officer now owns 536,148 shares of the company’s stock, valued at $63,018,835.92. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.