The TJX Companies, Inc. (NYSE:TJX) Shares Bought by Eastern Bank

Key Points

• Eastern Bank increased its stake in The TJX Companies by 15.4%, owning 127,237 shares valued at approximately $15.5 million as of its latest SEC filing.
• A number of other institutional investors have also adjusted their stakes, including Brighton Jones LLC which increased its position by 113.7% in the fourth quarter.
• Several analysts have set new price targets for TJX, with a consensus target price of $141.06 and a majority rating of "Buy" from the analyst community.

Eastern Bank raised its stake in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 15.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 127,237 shares of the apparel and home fashions retailer's stock after acquiring an additional 16,943 shares during the period. Eastern Bank's holdings in TJX Companies were worth $15,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TJX. Clear Creek Financial Management LLC lifted its stake in TJX Companies by 1.8% during the first quarter. Clear Creek Financial Management LLC now owns 4,811 shares of the apparel and home fashions retailer's stock worth $586,000 after purchasing an additional 83 shares during the last quarter. Salem Investment Counselors Inc. increased its position in TJX Companies by 2.2% during the first quarter. Salem Investment Counselors Inc. now owns 3,986 shares of the apparel and home fashions retailer's stock worth $485,000 after buying an additional 86 shares during the period. Amplius Wealth Advisors LLC increased its position in TJX Companies by 4.2% during the first quarter. Amplius Wealth Advisors LLC now owns 2,324 shares of the apparel and home fashions retailer's stock worth $283,000 after buying an additional 93 shares during the period. Aaron Wealth Advisors LLC increased its position in TJX Companies by 0.7% during the first quarter. Aaron Wealth Advisors LLC now owns 14,156 shares of the apparel and home fashions retailer's stock worth $1,724,000 after buying an additional 96 shares during the period. Finally, Horizon Wealth Management LLC increased its position in TJX Companies by 2.0% during the first quarter. Horizon Wealth Management LLC now owns 4,945 shares of the apparel and home fashions retailer's stock worth $602,000 after buying an additional 99 shares during the period. Institutional investors own 91.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Amy B. Lane sold 950 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total transaction of $121,685.50. Following the transaction, the director directly owned 22,712 shares in the company, valued at approximately $2,909,180.08. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TJX. Wall Street Zen raised TJX Companies from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Loop Capital set a $150.00 price target on TJX Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley set a $140.00 price target on TJX Companies and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company reissued an "equal weight" rating on shares of TJX Companies in a report on Wednesday, May 21st. Finally, BMO Capital Markets reissued an "outperform" rating on shares of TJX Companies in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $141.06.

TJX Companies Price Performance

Shares of NYSE:TJX traded up $1.36 on Friday, hitting $125.89. The company had a trading volume of 4,855,347 shares, compared to its average volume of 4,410,306. The company has a current ratio of 1.16, a quick ratio of 0.51 and a debt-to-equity ratio of 0.34. The TJX Companies, Inc. has a 52-week low of $107.71 and a 52-week high of $135.85. The business has a 50 day moving average of $125.01 and a 200 day moving average of $124.41. The company has a market cap of $140.63 billion, a PE ratio of 29.62, a PEG ratio of 2.90 and a beta of 0.88.

TJX Companies (NYSE:TJX - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. TJX Companies had a return on equity of 58.81% and a net margin of 8.47%. The firm had revenue of $13.11 billion for the quarter, compared to the consensus estimate of $13.01 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that The TJX Companies, Inc. will post 4.18 earnings per share for the current fiscal year.

TJX Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.70 annualized dividend and a yield of 1.4%. TJX Companies's dividend payout ratio is 40.00%.

TJX Companies 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.