Harvest Fund Management Co. Ltd Sells 9,019 Shares of The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Harvest Fund Management Co. Ltd has decreased its stake in The TJX Companies by 44.8%, reducing its holdings to 11,110 shares after selling 9,019 shares during the first quarter of 2023, worth approximately $1.35 million.
• TJX Companies reported an EPS of $0.92 for the recent quarter, exceeding expectations, with a 5.1% increase in revenue year-over-year, totaling $13.11 billion.
• The company announced a quarterly dividend of $0.425 per share, which translates to an annualized dividend of $1.70 and a yield of 1.34%.

Harvest Fund Management Co. Ltd trimmed its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 44.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,110 shares of the apparel and home fashions retailer's stock after selling 9,019 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in TJX Companies were worth $1,353,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. TCTC Holdings LLC lifted its holdings in shares of TJX Companies by 210.1% in the 1st quarter. TCTC Holdings LLC now owns 214 shares of the apparel and home fashions retailer's stock worth $26,000 after acquiring an additional 145 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in shares of TJX Companies by 58.8% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 297 shares of the apparel and home fashions retailer's stock worth $36,000 after buying an additional 110 shares during the period. Iron Horse Wealth Management LLC increased its stake in shares of TJX Companies by 99.3% in the first quarter. Iron Horse Wealth Management LLC now owns 299 shares of the apparel and home fashions retailer's stock worth $36,000 after buying an additional 149 shares during the period. Inlight Wealth Management LLC purchased a new position in shares of TJX Companies in the first quarter worth $37,000. Finally, Rialto Wealth Management LLC increased its stake in shares of TJX Companies by 105.9% in the first quarter. Rialto Wealth Management LLC now owns 348 shares of the apparel and home fashions retailer's stock worth $42,000 after buying an additional 179 shares during the period. 91.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TJX. Daiwa Capital Markets began coverage on shares of TJX Companies in a research note on Tuesday, July 8th. They issued an "outperform" rating and a $133.00 target price on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of TJX Companies in a research note on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating and issued a $164.00 target price (up from $154.00) on shares of TJX Companies in a research note on Thursday, May 22nd. TD Securities lifted their target price on shares of TJX Companies from $140.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $145.00 target price on shares of TJX Companies in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $141.06.

Insider Transactions at TJX Companies

In related news, Director Amy B. Lane sold 950 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $128.09, for a total value of $121,685.50. Following the transaction, the director owned 22,712 shares in the company, valued at $2,909,180.08. The trade was a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

TJX Companies Stock Up 1.1%

Shares of TJX stock traded up $1.36 during mid-day trading on Friday, reaching $125.89. 4,855,347 shares of the company's stock traded hands, compared to its average volume of 4,410,306. The TJX Companies, Inc. has a 12 month low of $107.71 and a 12 month high of $135.85. The company has a market cap of $140.63 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.90 and a beta of 0.88. The company has a quick ratio of 0.51, a current ratio of 1.16 and a debt-to-equity ratio of 0.34. The company's 50-day moving average price is $125.01 and its 200-day moving average price is $124.41.

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

TJX Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a $0.425 dividend. 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 payout ratio is presently 40.00%.

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.