Investment Management Corp of Ontario Purchases 22,910 Shares of The TJX Companies, Inc. $TJX

Key Points

• Investment Management Corp of Ontario increased its TJX stake by 31.3% in the fourth quarter, adding 22,910 shares and bringing its total holdings to 96,169 shares valued at about $14.8 million.
• Institutional ownership remains heavy, with major investors like Norges Bank, Alliancebernstein, Corient Private Wealth, Amundi, and AQR all reporting sizable positions in TJX.
• TJX continues to post solid fundamentals, beating quarterly EPS and revenue estimates, while analysts largely remain bullish with a consensus “Buy” rating and a target price of $174.58.

Investment Management Corp of Ontario raised its position in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 31.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,169 shares of the apparel and home fashions retailer's stock after purchasing an additional 22,910 shares during the quarter. Investment Management Corp of Ontario's holdings in TJX Companies were worth $14,773,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of TJX Companies during the 4th quarter worth approximately $2,211,975,000. Alliancebernstein L.P. grew its position in TJX Companies by 91.6% in the 3rd quarter. Alliancebernstein L.P. now owns 6,712,226 shares of the apparel and home fashions retailer's stock valued at $970,185,000 after acquiring an additional 3,208,458 shares during the last quarter. Corient Private Wealth LLC grew its position 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 valued at $620,406,000 after acquiring an additional 2,743,676 shares during the last quarter. Amundi increased its stake in TJX Companies by 22.1% in the third quarter. Amundi now owns 9,725,542 shares of the apparel and home fashions retailer's stock worth $1,391,822,000 after purchasing an additional 1,761,281 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of TJX Companies by 57.3% during the fourth 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 purchasing an additional 1,753,155 shares during the last quarter. Institutional investors own 91.09% of the company's stock.

Insider Buying and Selling at TJX Companies

In related news, Director Jackwyn Nemerov sold 957 shares of TJX Companies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $168.59, for a total transaction of $161,340.63. Following the transaction, the director directly owned 802 shares of the company's stock, valued at $135,209.18. This trade represents a 54.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John Klinger sold 6,235 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $160.77, for a total transaction of $1,002,400.95. Following the completion of the transaction, the chief financial officer directly owned 64,257 shares of the company's stock, valued at $10,330,597.89. This trade represents a 8.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 130,367 shares of company stock worth $20,959,476 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TJX. Barclays reissued an "overweight" rating and set a $190.00 target price (up from $183.00) on shares of TJX Companies in a research note on Thursday, May 21st. Truist Financial set a $190.00 price objective on shares of TJX Companies and gave the company a "buy" rating in a report on Thursday, May 21st. UBS Group reissued a "buy" rating on shares of TJX Companies in a research report on Tuesday, June 9th. BTIG Research upped their target price on shares of TJX Companies from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Finally, Argus raised shares of TJX Companies to a "strong-buy" rating in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company. Based on data from MarketBeat, TJX Companies currently has a consensus rating of "Buy" and a consensus target price of $174.58.

TJX Companies Price Performance

TJX opened at $164.18 on Thursday. The company has a market capitalization of $181.37 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.60 and a beta of 0.62. 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 business's fifty day simple moving average is $157.87 and its 200-day simple moving average is $156.40.

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

TJX Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a $0.48 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 1.2%. TJX Companies's payout ratio is currently 37.28%.

TJX Companies Company 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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