Dockside LLC Makes New Investment in The TJX Companies, Inc. $TJX

Key Points

• Dockside LLC purchased 7,868 TJX shares during the second quarter, valued at approximately $1.19 million. Institutional investors collectively own 91.09% of the company.
• Analysts remain broadly bullish, with TJX receiving an average “Buy” rating and a consensus price target of $177.94, although Erste Group downgraded the stock to “Hold.”
• TJX reported quarterly EPS of $1.19, beating estimates by $0.17, while revenue rose 9.2% year over year to $14.32 billion. The company also declared a quarterly dividend of $0.48 per share, representing a 1.3% yield.

Dockside LLC purchased a new stake in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,868 shares of the apparel and home fashions retailer's stock, valued at approximately $1,192,000.

A number of other hedge funds also recently bought and sold shares of TJX. Vanguard Group Inc. increased its position in shares of TJX Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 102,733,668 shares of the apparel and home fashions retailer's stock valued at $15,780,919,000 after purchasing an additional 771,882 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of TJX Companies by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,104 shares of the apparel and home fashions retailer's stock worth $4,134,174,000 after purchasing an additional 673,690 shares during the period. Bank of America Corp DE boosted its holdings in shares of TJX Companies by 2.0% in the fourth quarter. Bank of America Corp DE now owns 25,620,925 shares of the apparel and home fashions retailer's stock worth $3,935,630,000 after buying an additional 495,989 shares during the last quarter. Capital International Investors grew its position in TJX Companies by 2.0% during the fourth quarter. Capital International Investors now owns 15,986,573 shares of the apparel and home fashions retailer's stock valued at $2,455,911,000 after buying an additional 308,408 shares during the period. Finally, Norges Bank bought a new stake in TJX Companies during the fourth quarter valued at approximately $2,211,975,000. Hedge funds and other institutional investors own 91.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of TJX Companies in a research report on Thursday, May 21st. Erste Group Bank lowered TJX Companies from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. BTIG Research raised their target price on TJX Companies from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Robert W. Baird lifted their target price on TJX Companies from $172.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Finally, Truist Financial set a $190.00 price target on TJX Companies and gave the company a "buy" rating in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $177.94.

Insiders Place Their Bets

In related news, CFO John Klinger sold 6,235 shares of TJX Companies stock in a transaction that occurred on Friday, June 5th. The stock was 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 of the company's stock, valued at approximately $10,330,597.89. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jackwyn Nemerov sold 957 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $168.59, for a total transaction of $161,340.63. Following the sale, the director directly owned 802 shares of the company's stock, valued at approximately $135,209.18. This trade represents a 54.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 130,367 shares of company stock valued at $20,959,476 over the last three months. Insiders own 0.15% of the company's stock.

TJX Companies Stock Performance

Shares of NYSE TJX opened at $152.00 on Monday. The stock has a market cap of $167.91 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62. The TJX Companies, Inc. has a 1 year low of $132.01 and a 1 year high of $170.00. The firm has a fifty day moving average price of $157.63 and a 200-day moving average price of $156.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.14 and a quick ratio of 0.54.

TJX Companies (NYSE:TJX - Get Free Report) last released its earnings results on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. TJX Companies had a net margin of 9.40% and a return on equity of 57.92%. The company had revenue of $14.32 billion for the quarter, compared to analysts' expectations of $14.02 billion. During the same quarter in the previous year, the company earned $0.92 EPS. TJX Companies's revenue for the quarter 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. Equities analysts anticipate that The TJX Companies, Inc. will post 5.19 earnings per share for the current fiscal year.

TJX Companies Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source