Franklin Resources Inc. Sells 1,066,935 Shares of The TJX Companies, Inc. (NYSE:TJX)

Franklin Resources Inc. reduced its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,204,564 shares of the apparel and home fashions retailer's stock after selling 1,066,935 shares during the period. Franklin Resources Inc. owned about 0.55% of TJX Companies worth $749,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TJX. Norges Bank acquired a new position in shares of TJX Companies during the fourth quarter worth $1,670,565,000. Raymond James Financial Inc. acquired a new stake in shares of TJX Companies during the fourth quarter valued at about $570,342,000. DJE Kapital AG bought a new stake in shares of TJX Companies during the fourth quarter worth about $140,068,000. Provident Trust Co. increased its stake in shares of TJX Companies by 71.3% in the fourth quarter. Provident Trust Co. now owns 2,723,149 shares of the apparel and home fashions retailer's stock valued at $328,984,000 after buying an additional 1,133,486 shares during the period. Finally, Capital Wealth Planning LLC raised its holdings in TJX Companies by 39.1% in the 4th quarter. Capital Wealth Planning LLC now owns 3,658,245 shares of the apparel and home fashions retailer's stock valued at $441,953,000 after buying an additional 1,027,456 shares during the last quarter. 91.09% of the stock is owned by institutional investors.

TJX Companies Stock Up 0.7 %

TJX traded up $0.88 during trading on Tuesday, hitting $122.68. 4,781,897 shares of the company's stock were exchanged, compared to its average volume of 5,210,158. The TJX Companies, Inc. has a fifty-two week low of $92.35 and a fifty-two week high of $128.00. The stock has a market cap of $137.92 billion, a P/E ratio of 28.87, a PEG ratio of 2.75 and a beta of 0.96. The business's 50 day moving average is $121.61 and its two-hundred day moving average is $120.26. The company has a quick ratio of 0.50, a current ratio of 1.19 and a debt-to-equity ratio of 0.35.

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TJX Companies (NYSE:TJX - Get Free Report) last posted its earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.07. The company had revenue of $16.35 billion for the quarter, compared to analyst estimates of $16.24 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. As a group, equities analysts expect that The TJX Companies, Inc. will post 4.18 earnings per share for the current fiscal year.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from TJX Companies's previous quarterly dividend of $0.38. This represents a $1.70 annualized dividend and a yield of 1.39%. TJX Companies's dividend payout ratio (DPR) is 35.21%.

Insiders Place Their Bets

In other TJX Companies news, CEO Ernie Herrman sold 23,428 shares of TJX Companies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the transaction, the chief executive officer now owns 484,189 shares of the company's stock, valued at $59,569,772.67. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Bennett sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total value of $988,240.00. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TJX. BMO Capital Markets lifted their price target on shares of TJX Companies from $133.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. UBS Group upped their price target on TJX Companies from $148.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Guggenheim increased their price target on TJX Companies from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price objective on TJX Companies from $115.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday, January 10th. Finally, StockNews.com raised shares of TJX Companies from a "hold" rating to a "buy" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, TJX Companies presently has an average rating of "Moderate Buy" and an average target price of $135.06.

TJX Companies Company 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.