Elevation Point Wealth Partners LLC Purchases 41,726 Shares of The TJX Companies, Inc. $TJX

Key Points

• Elevation Point Wealth Partners boosted its TJX position by 408.5% in the first quarter, buying 41,726 additional shares and bringing its total to 51,941 shares worth about $8.3 million.
• Institutional ownership remains very high at 91.09% of TJX stock, while several large investors such as Vanguard, Geode Capital, and Bank of America also added to their holdings.
• TJX reported strong quarterly results, posting EPS of $1.19 and revenue of $14.32 billion, both above estimates, and analysts continue to view the stock favorably with a consensus “Buy” rating and an average price target of $174.58.

Elevation Point Wealth Partners LLC lifted its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 408.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,941 shares of the apparel and home fashions retailer's stock after purchasing an additional 41,726 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in TJX Companies were worth $8,295,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TJX. Vanguard Group Inc. lifted its position in TJX Companies by 0.8% during the fourth 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 increased its holdings 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 buying an additional 673,690 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of TJX Companies by 2.0% in the 4th 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 raised its position in shares of TJX Companies by 2.0% during the 4th 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of TJX Companies during the 4th quarter valued at about $2,211,975,000. Institutional investors own 91.09% of the company's stock.

Insiders Place Their Bets

In other TJX Companies news, CFO John Klinger sold 6,235 shares of the company'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 transaction, the chief financial officer owned 64,257 shares of the company's stock, valued at $10,330,597.89. This represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $9,102,867.60. Following the completion of the sale, the chairman owned 201,496 shares in the company, valued at approximately $32,974,820.40. The trade was a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 130,367 shares of company stock worth $20,959,476 in the last 90 days. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TJX. Wall Street Zen lowered TJX Companies from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Citigroup restated a "buy" rating and set a $182.00 price objective (up from $168.00) on shares of TJX Companies in a research report on Thursday, May 21st. BTIG Research lifted 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. Barclays reissued an "overweight" rating and set a $190.00 target price (up from $183.00) on shares of TJX Companies in a research report on Thursday, May 21st. Finally, Weiss Ratings lowered TJX Companies from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $174.58.

TJX Companies Stock Performance

Shares of NYSE:TJX opened at $154.05 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.54 and a debt-to-equity ratio of 0.18. The TJX Companies, Inc. has a 12 month low of $119.84 and a 12 month high of $170.00. The company has a market capitalization of $170.18 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 3.28 and a beta of 0.63. The firm's 50-day moving average is $157.43 and its 200 day moving average is $156.81.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. TJX Companies had a net margin of 9.40% and a return on equity of 57.92%. The business had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. 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. Research analysts predict that The TJX Companies, Inc. will post 5.17 EPS for the current year.

TJX Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a dividend of $0.48 per share. The ex-dividend date 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 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.

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