Federated Hermes Inc. Cuts Position in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Federated Hermes Inc. reduced its position in The TJX Companies by 6.2%, owning approximately 1.2 million shares after selling nearly 79,000 shares in the first quarter.
• The TJX Companies reported a quarterly revenue of $13.11 billion, exceeding analysts' expectations of $13.01 billion, alongside an EPS of $0.92.
• The company has announced a quarterly dividend of $0.425, with a dividend yield of 1.36%, to be paid to stockholders on September 4th.

Federated Hermes Inc. trimmed its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 6.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,203,835 shares of the apparel and home fashions retailer's stock after selling 78,989 shares during the period. Federated Hermes Inc. owned about 0.11% of TJX Companies worth $146,627,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in TJX Companies by 14,486.1% during the 1st quarter. GAMMA Investing LLC now owns 2,912,116 shares of the apparel and home fashions retailer's stock worth $354,696,000 after acquiring an additional 2,892,151 shares in the last quarter. Capital Research Global Investors grew its holdings in TJX Companies by 689.6% during the 4th quarter. Capital Research Global Investors now owns 2,595,085 shares of the apparel and home fashions retailer's stock worth $313,512,000 after acquiring an additional 2,266,415 shares in the last quarter. Northern Trust Corp grew its holdings in TJX Companies by 15.2% during the 4th quarter. Northern Trust Corp now owns 13,985,826 shares of the apparel and home fashions retailer's stock worth $1,689,628,000 after acquiring an additional 1,845,225 shares in the last quarter. Royal Bank of Canada grew its holdings in TJX Companies by 12.9% during the 4th quarter. Royal Bank of Canada now owns 12,300,919 shares of the apparel and home fashions retailer's stock worth $1,486,074,000 after acquiring an additional 1,403,561 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in TJX Companies by 65.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,282,351 shares of the apparel and home fashions retailer's stock worth $399,790,000 after acquiring an additional 1,302,845 shares in the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

TJX Companies Stock Performance

TJX Companies stock traded up $1.17 during trading hours on Friday, reaching $125.70. 2,891,698 shares of the stock were exchanged, compared to its average volume of 5,312,516. The stock has a market cap of $140.42 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.51 and a current ratio of 1.16. The TJX Companies, Inc. has a 52-week low of $107.71 and a 52-week high of $135.85. The firm's 50 day moving average is $125.01 and its 200 day moving average is $124.41.

TJX Companies (NYSE:TJX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $13.11 billion during the quarter, compared to the consensus estimate of $13.01 billion. TJX Companies had a net margin of 8.47% and a return on equity of 58.81%. TJX Companies's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. TJX Companies's dividend payout ratio is presently 40.00%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Cowen reiterated a "buy" rating on shares of TJX Companies in a report on Tuesday, May 20th. UBS Group restated a "buy" rating and issued a $164.00 target price (up previously from $154.00) on shares of TJX Companies in a report on Thursday, May 22nd. Wells Fargo & Company restated an "equal weight" rating on shares of TJX Companies in a report on Wednesday, May 21st. JPMorgan Chase & Co. upped their target price on shares of TJX Companies from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Finally, BMO Capital Markets restated an "outperform" rating on shares of TJX Companies in a report on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $141.06.

Insider Buying and Selling

In other TJX Companies news, Director Amy B. Lane sold 950 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $128.09, for a total transaction of $121,685.50. Following the completion of the transaction, the director owned 22,712 shares in the company, valued at approximately $2,909,180.08. This represents a 4.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company's stock.

TJX Companies Company 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.