Resona Asset Management Co. Ltd. lifted its stake in The TJX Companies, Inc. (NYSE:TJX – Free Report) by 6.2% during the first quarter, HoldingsChannel.com reports. The firm owned 421,270 shares of the apparel and home fashions retailer’s stock after purchasing an additional 24,669 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in TJX Companies were worth $67,008,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna boosted its holdings in TJX Companies by 120.3% in the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 163 shares of the apparel and home fashions retailer’s stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Entrust Financial LLC bought a new position in shares of TJX Companies during the fourth quarter valued at $26,000. Wilkerson Advisory Group LLC bought a new position in TJX Companies in the 4th quarter worth about $26,000. IMG Wealth Management Inc. grew its position in TJX Companies by 65.7% during the 4th quarter. IMG Wealth Management Inc. now owns 174 shares of the apparel and home fashions retailer’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Joseph Group Capital Management purchased a new stake in TJX Companies during the 4th quarter valued at about $27,000. Institutional investors own 91.09% of the company’s stock.
TJX Companies Stock Performance
Shares of NYSE TJX opened at $153.06 on Thursday. The firm’s 50-day moving average price is $157.05 and its 200-day moving average price is $156.75. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 0.18. The company has a market cap of $169.09 billion, a PE ratio of 29.72, a PEG ratio of 3.34 and a beta of 0.63. The TJX Companies, Inc. has a 52-week low of $119.84 and a 52-week high of $170.00.
TJX Companies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 13th. TJX Companies’s payout ratio is 37.28%.
Analyst Ratings Changes
Several research analysts have recently issued reports on TJX shares. Truist Financial set a $190.00 target price on shares of TJX Companies and gave the stock a “buy” rating in a research note on Thursday, May 21st. Sanford C. Bernstein restated an “outperform” rating on shares of TJX Companies in a report on Thursday, May 21st. Wall Street Zen cut TJX Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Evercore reiterated an “outperform” rating and set a $175.00 target price on shares of TJX Companies in a research note on Thursday, May 21st. Finally, Weiss Ratings raised TJX Companies from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $176.89.
Read Our Latest Stock Report on TJX
Insider Activity at TJX Companies
In other news, Chairman Carol Meyrowitz sold 55,624 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $163.65, for a total transaction of $9,102,867.60. Following the transaction, the chairman directly owned 201,496 shares of the company’s stock, valued at $32,974,820.40. This represents a 21.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Klinger sold 6,235 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $160.77, for a total value of $1,002,400.95. Following the completion of the transaction, the chief financial officer owned 64,257 shares in the company, valued at approximately $10,330,597.89. This trade represents a 8.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 130,367 shares of company stock valued at $20,959,476 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.
TJX Companies Profile
TJX Companies, Inc is a leading off-price retailer of apparel, footwear, home fashions and other consumer goods. The company operates multiple retail concepts that offer discounted brand-name and designer merchandise, including well-known banners such as T.J. Maxx and Marshalls in the United States, HomeGoods for home furnishings, TK Maxx in parts of Europe, and Winners and Homesense in Canada. Merchandise categories span women’s, men’s and children’s apparel, accessories, beauty, home décor, kitchenware and small furniture, with frequent changes in assortment that create a “treasure-hunt” shopping experience for consumers.
The company’s business model centers on opportunistic buying, purchasing excess, irregular or out-of-season inventory from manufacturers, department stores and other suppliers, and passing savings to customers through lower prices.
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