Bank of Montreal Can Decreases Holdings in The TJX Companies, Inc. (NYSE:TJX)

Bank of Montreal Can lessened its position in The TJX Companies, Inc. (NYSE:TJX) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,460,411 shares of the apparel and home fashions retailer’s stock after selling 83,735 shares during the period. Bank of Montreal Can owned 0.31% of TJX Companies worth $406,598,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Richard W. Paul & Associates LLC purchased a new stake in TJX Companies in the second quarter worth $25,000. Capital Performance Advisors LLP bought a new stake in TJX Companies during the 3rd quarter valued at approximately $29,000. Truvestments Capital LLC purchased a new position in shares of TJX Companies during the 3rd quarter worth approximately $29,000. Copeland Capital Management LLC purchased a new position in shares of TJX Companies during the 3rd quarter worth approximately $30,000. Finally, New Millennium Group LLC bought a new position in shares of TJX Companies in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Price Performance

TJX traded up $2.43 during trading hours on Monday, hitting $123.90. The company’s stock had a trading volume of 731,670 shares, compared to its average volume of 5,233,198. The stock has a market cap of $139.74 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 2.99 and a beta of 0.89. The TJX Companies, Inc. has a 12 month low of $87.44 and a 12 month high of $123.90. The business’s 50-day moving average price is $116.52 and its 200-day moving average price is $112.51. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35.

TJX Companies (NYSE:TJX) last issued its quarterly earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.95 billion. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Sell-side analysts expect that The TJX Companies, Inc. will post 4.18 earnings per share for the current fiscal year.

TJX Companies Dividend Announcement

The company 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 dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 14th. TJX Companies’s dividend payout ratio is 35.29%.

Insider Activity

In other news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total value of $1,763,100.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

TJX has been the topic of several recent research reports. Barclays upped their price target on TJX Companies from $114.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their target price on shares of TJX Companies from $100.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. TD Cowen raised their price objective on TJX Companies from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group lifted their price target on TJX Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Robert W. Baird upped their price target on shares of TJX Companies from $113.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.47.

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.