The TJX Companies, Inc. (NYSE:TJX) Position Cut by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its position in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 41.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,956 shares of the apparel and home fashions retailer's stock after selling 96,889 shares during the period. TJX Companies accounts for about 1.1% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 22nd largest position. Meeder Asset Management Inc.'s holdings in TJX Companies were worth $16,215,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Richard W. Paul & Associates LLC purchased a new position in shares of TJX Companies during the 2nd quarter worth about $25,000. Capital Performance Advisors LLP purchased a new position in shares of TJX Companies during the 3rd quarter worth about $29,000. Copeland Capital Management LLC purchased a new position in shares of TJX Companies during the 3rd quarter worth about $30,000. New Millennium Group LLC purchased a new position in shares of TJX Companies during the 2nd quarter worth about $34,000. Finally, Anfield Capital Management LLC purchased a new position in shares of TJX Companies during the 2nd quarter worth about $37,000. 91.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TJX has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of TJX Companies from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Barclays raised their price target on shares of TJX Companies from $114.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Jefferies Financial Group raised their price target on shares of TJX Companies from $130.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Evercore ISI raised their price target on shares of TJX Companies from $115.00 to $126.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Finally, TD Cowen raised their price target on shares of TJX Companies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $127.41.

TJX Companies Stock Down 0.1 %

Shares of TJX stock traded down $0.10 during mid-day trading on Tuesday, reaching $119.57. 5,787,930 shares of the company were exchanged, compared to its average volume of 5,231,379. The TJX Companies, Inc. has a fifty-two week low of $87.44 and a fifty-two week high of $122.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.60 and a current ratio of 1.21. The company has a market capitalization of $134.86 billion, a P/E ratio of 28.88, a P/E/G ratio of 3.04 and a beta of 0.89. The business's 50 day simple moving average is $116.42 and its 200 day simple moving average is $112.04.

TJX Companies (NYSE:TJX - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. TJX Companies had a net margin of 8.56% and a return on equity of 63.19%. The business had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.31 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business's quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts predict that The TJX Companies, Inc. will post 4.14 earnings per share for the current year.

TJX Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, November 14th. TJX Companies's payout ratio is currently 36.23%.

Insiders Place Their Bets

In other TJX Companies news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

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.