Canoe Financial LP Sells 57,400 Shares of The TJX Companies, Inc. $TJX

Key Points

• Canoe Financial LP reduced its TJX Companies stake by 8% in the second quarter, selling 57,400 shares and retaining 661,117 shares worth approximately $100.2 million.
• TJX reported quarterly earnings of $1.19 per share on $14.32 billion in revenue, exceeding analyst estimates, while revenue increased 9.2% year over year.
• The company declared a quarterly dividend of $0.48 per share, equivalent to an annualized $1.92 dividend and a 1.3% yield; analysts maintain a consensus “Buy” rating with an average price target of $177.94.

Canoe Financial LP lessened its position in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 661,117 shares of the apparel and home fashions retailer's stock after selling 57,400 shares during the quarter. Canoe Financial LP owned 0.06% of TJX Companies worth $100,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna raised its stake in TJX Companies by 120.3% during the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 163 shares of the apparel and home fashions retailer's stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Entrust Financial LLC purchased a new stake in shares of TJX Companies in the fourth quarter valued at approximately $26,000. Wilkerson Advisory Group LLC purchased a new position in TJX Companies during the fourth quarter valued at $26,000. IMG Wealth Management Inc. lifted its position in shares of TJX Companies by 65.7% in 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 acquiring an additional 69 shares in the last quarter. Finally, Joseph Group Capital Management purchased a new stake in shares of TJX Companies during the fourth quarter worth $27,000. Institutional investors own 91.09% of the company's stock.

TJX Companies Price Performance

NYSE TJX opened at $152.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.14 and a quick ratio of 0.54. The company's 50 day simple moving average is $157.63 and its 200 day simple moving average is $156.73. The TJX Companies, Inc. has a 12 month low of $132.01 and a 12 month high of $170.00. The firm has a market capitalization of $167.91 billion, a PE ratio of 29.51, a P/E/G ratio of 3.32 and a beta of 0.62.

TJX Companies (NYSE:TJX - Get Free Report) last issued its earnings results on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. TJX Companies had a return on equity of 57.92% and a net margin of 9.40%.The business had revenue of $14.32 billion for the quarter, compared to analysts' expectations of $14.02 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company's quarterly revenue was up 9.2% on a year-over-year basis. 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. As a group, equities research analysts forecast that The TJX Companies, Inc. will post 5.19 EPS for the current fiscal year.

TJX Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.3%. TJX Companies's dividend payout ratio is currently 37.28%.

Insider Activity

In other TJX Companies news, Director Jackwyn Nemerov sold 957 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $168.59, for a total transaction of $161,340.63. Following the completion of the sale, the director directly owned 802 shares in the company, valued at $135,209.18. This represents a 54.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Carol Meyrowitz sold 55,624 shares of the business's 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 in the company, valued at $32,974,820.40. This trade represents a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 130,367 shares of company stock worth $20,959,476. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

TJX has been the subject of a number of research analyst reports. Sanford C. Bernstein restated an "outperform" rating on shares of TJX Companies in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their target price on shares of TJX Companies from $173.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of TJX Companies from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. UBS Group restated a "buy" rating on shares of TJX Companies in a report on Tuesday, June 9th. Finally, Truist Financial set a $190.00 price target on shares of TJX Companies and gave the stock a "buy" rating in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $177.94.

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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