Summit Financial LLC Buys 20,283 Shares of The TJX Companies, Inc. (NYSE:TJX)

Summit Financial LLC grew its stake in The TJX Companies, Inc. (NYSE:TJX) by 65.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,090 shares of the apparel and home fashions retailer’s stock after purchasing an additional 20,283 shares during the quarter. Summit Financial LLC’s holdings in TJX Companies were worth $6,172,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TJX. Bogart Wealth LLC purchased a new position in TJX Companies during the 4th quarter worth $25,000. Trivant Custom Portfolio Group LLC bought a new position in shares of TJX Companies during the fourth quarter valued at about $26,000. Legacy Investment Solutions LLC purchased a new position in TJX Companies during the third quarter worth about $30,000. SOA Wealth Advisors LLC. bought a new stake in TJX Companies in the 4th quarter worth about $30,000. Finally, Millstone Evans Group LLC purchased a new stake in TJX Companies in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Stock Performance

NYSE:TJX opened at $118.06 on Monday. The TJX Companies, Inc. has a 52-week low of $92.35 and a 52-week high of $128.00. The business’s fifty day moving average is $121.61 and its 200 day moving average is $120.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.19. The firm has a market cap of $132.72 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.75 and a beta of 0.96.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. The firm had revenue of $16.35 billion for the quarter, compared to the consensus estimate of $16.24 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. Research analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current year.

Insider Activity

In related news, CEO Ernie Herrman sold 23,428 shares of TJX Companies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the completion of the sale, the chief executive officer now owns 484,189 shares of the company’s stock, valued at approximately $59,569,772.67. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan M. Bennett sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was 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. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group boosted their target price on TJX Companies from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and issued a $145.00 price objective on shares of TJX Companies in a research note on Thursday, February 27th. Wells Fargo & Company lifted their target price 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. Morgan Stanley increased their price target on shares of TJX Companies from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Robert W. Baird raised their price objective on shares of TJX Companies from $138.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock 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.