Bank of America Corp DE Trims Stake in The TJX Companies, Inc. $TJX

Bank of America Corp DE cut its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,212,075 shares of the apparel and home fashions retailer's stock after selling 408,850 shares during the period. Bank of America Corp DE owned 2.28% of TJX Companies worth $4,026,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TJX. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its stake in shares of TJX Companies by 120.3% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 163 shares of the apparel and home fashions retailer's stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Entrust Financial LLC bought a new position in TJX Companies in the 4th quarter worth $26,000. Wilkerson Advisory Group LLC purchased a new position in TJX Companies during the fourth quarter valued at $26,000. Joseph Group Capital Management purchased a new position in TJX Companies during the fourth quarter valued at $27,000. Finally, IMG Wealth Management Inc. grew its holdings in TJX Companies by 65.7% during the fourth 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 period. Hedge funds and other institutional investors own 91.09% of the company's stock.

TJX Companies Trading Up 0.5%

Shares of TJX stock opened at $161.62 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.54 and a current ratio of 1.14. The stock has a fifty day simple moving average of $157.56 and a two-hundred day simple moving average of $156.64. The firm has a market capitalization of $178.54 billion, a PE ratio of 31.38, a PEG ratio of 3.48 and a beta of 0.63. The TJX Companies, Inc. has a 52-week low of $123.78 and a 52-week high of $170.00.

TJX Companies (NYSE:TJX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $14.02 billion. TJX Companies had a return on equity of 57.92% and a net margin of 9.40%.The business's revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. TJX Companies has set its FY 2027 guidance at 5.080-5.150 EPS and its Q2 2027 guidance at 1.150-1.170 EPS. On average, analysts predict that The TJX Companies, Inc. will post 5.17 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.2%. TJX Companies's payout ratio is currently 37.28%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen upgraded TJX Companies from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Telsey Advisory Group lifted their price objective on TJX Companies from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price objective on TJX Companies from $173.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Sanford C. Bernstein reissued an "outperform" rating on shares of TJX Companies in a report on Thursday, May 21st. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $176.89.

Insiders Place Their Bets

In other TJX Companies news, CEO Ernie Herrman sold 29,549 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $157.46, for a total transaction of $4,652,785.54. Following the completion of the sale, the chief executive officer directly owned 552,850 shares of the company's stock, valued at $87,051,761. This trade represents a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John Klinger sold 6,235 shares of TJX Companies stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $160.77, for a total transaction of $1,002,400.95. Following the sale, the chief financial officer owned 64,257 shares in the company, valued at approximately $10,330,597.89. The trade was a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 130,367 shares of company stock valued at $20,959,476 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

TJX Companies Company 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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