Illinois Municipal Retirement Fund Lowers Stock Position in The TJX Companies, Inc. $TJX

Key Points

• Illinois Municipal Retirement Fund trimmed its TJX stake by 18.1% in the first quarter, selling 56,677 shares and leaving it with 255,770 shares valued at about $40.8 million.
• TJX reported better-than-expected quarterly results, posting EPS of $1.19 versus the $1.02 consensus and revenue of $14.32 billion, up 9.2% year over year.
• The company also announced a quarterly dividend of $0.48 per share, and analysts remain broadly bullish with a consensus Buy rating and average price target of $176.89.

Illinois Municipal Retirement Fund cut its stake in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 18.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 255,770 shares of the apparel and home fashions retailer's stock after selling 56,677 shares during the quarter. TJX Companies makes up approximately 0.5% of Illinois Municipal Retirement Fund's holdings, making the stock its 26th biggest position. Illinois Municipal Retirement Fund's holdings in TJX Companies were worth $40,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of TJX Companies in the fourth quarter worth $2,211,975,000. Diamant Asset Management Inc. lifted its stake in shares of TJX Companies by 15,998.0% during the 1st quarter. Diamant Asset Management Inc. now owns 3,779,983 shares of the apparel and home fashions retailer's stock valued at $603,663,000 after buying an additional 3,756,502 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in TJX Companies by 120.7% in the 2nd quarter. Corient Private Wealth LLC now owns 5,016,792 shares of the apparel and home fashions retailer's stock worth $620,406,000 after buying an additional 2,743,676 shares during the period. Amundi boosted its holdings in TJX Companies by 22.1% in the 3rd quarter. Amundi now owns 9,725,542 shares of the apparel and home fashions retailer's stock worth $1,391,822,000 after buying an additional 1,761,281 shares during the period. Finally, AQR Capital Management LLC increased its stake in TJX Companies by 57.3% in the 4th quarter. AQR Capital Management LLC now owns 4,814,467 shares of the apparel and home fashions retailer's stock worth $739,550,000 after buying an additional 1,753,155 shares in the last quarter. Institutional investors own 91.09% of the company's stock.

Insider Buying and Selling at TJX Companies

In other news, Director Jackwyn Nemerov sold 957 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $168.59, for a total value of $161,340.63. Following the sale, the director directly owned 802 shares in the company, valued at $135,209.18. The trade was a 54.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John Klinger sold 6,235 shares of the company's stock in a transaction dated Friday, June 5th. The shares were 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 in the company, valued at $10,330,597.89. This represents a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 130,367 shares of company stock worth $20,959,476. Company insiders own 0.15% of the company's stock.

TJX Companies Trading Up 0.4%

Shares of TJX Companies stock opened at $151.00 on Thursday. The TJX Companies, Inc. has a twelve month low of $119.84 and a twelve month high of $170.00. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $156.51 and a 200-day moving average price of $156.56. The firm has a market cap of $166.81 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 3.26 and a beta of 0.63.

TJX Companies (NYSE:TJX - Get Free Report) last posted its earnings results on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. TJX Companies had a return on equity of 57.92% and a net margin of 9.40%.The company had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The firm'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 research analysts anticipate that The TJX Companies, Inc. will post 5.17 EPS for the current fiscal year.

TJX Companies Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on TJX. Evercore reissued an "outperform" rating and set a $175.00 price target on shares of TJX Companies in a report on Thursday, May 21st. Truist Financial set a $190.00 target price on TJX Companies and gave the stock a "buy" rating in a research 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 note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on TJX Companies from $173.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Finally, Wells Fargo & Company reaffirmed an "outperform" rating and set a $160.00 price objective (up from $155.00) on shares of TJX Companies in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TJX Companies currently has a consensus rating of "Buy" and a consensus price target of $176.89.

About TJX Companies

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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