Kestra Advisory Services LLC Trims Holdings in The TJX Companies, Inc. $TJX

Key Points

• Kestra Advisory Services cut its TJX stake by 8.3% in the first quarter, selling 8,875 shares and ending with 98,431 shares valued at about $15.7 million.
• Insider selling picked up, with Chairman Carol Meyrowitz and CEO Ernie Herrman both selling shares; over the last 90 days, insiders sold 130,367 shares worth about $21.0 million.
• TJX reported strong quarterly results, beating earnings and revenue estimates, while analysts remain largely bullish with a consensus Buy rating and an average price target of $176.89.

Kestra Advisory Services LLC trimmed its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,431 shares of the apparel and home fashions retailer's stock after selling 8,875 shares during the quarter. Kestra Advisory Services LLC's holdings in TJX Companies were worth $15,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TJX. Norges Bank bought a new position in shares of TJX Companies during the fourth quarter valued at approximately $2,211,975,000. Diamant Asset Management Inc. boosted its position in shares of TJX Companies by 15,998.0% in the 1st quarter. Diamant Asset Management Inc. now owns 3,779,983 shares of the apparel and home fashions retailer's stock worth $603,663,000 after purchasing an additional 3,756,502 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of 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 worth $970,185,000 after buying an additional 3,208,458 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of 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 last quarter. Finally, Amundi increased its position in TJX Companies by 22.1% during the 3rd quarter. Amundi now owns 9,725,542 shares of the apparel and home fashions retailer's stock valued at $1,391,822,000 after buying an additional 1,761,281 shares in the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TJX Companies

In other TJX Companies news, Chairman Carol Meyrowitz sold 55,624 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $163.65, for a total transaction of $9,102,867.60. Following the completion of the sale, the chairman directly owned 201,496 shares in the company, valued at $32,974,820.40. The trade was a 21.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ernie Herrman sold 10,002 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $160.68, for a total transaction of $1,607,121.36. Following the sale, the chief executive officer directly owned 514,848 shares of the company's stock, valued at $82,725,776.64. The trade was a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 130,367 shares of company stock worth $20,959,476. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TJX shares. BTIG Research lifted their price objective on TJX Companies from $185.00 to $190.00 and gave the company a "buy" rating in a research note 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 note on Thursday, May 21st. Sanford C. Bernstein restated an "outperform" rating on shares of TJX Companies in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on shares of TJX Companies from $173.00 to $174.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Finally, Telsey Advisory Group increased their price objective on shares of TJX Companies from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $176.89.

TJX Companies Stock Performance

Shares of NYSE TJX traded up $0.40 during trading on Friday, reaching $151.30. 4,168,337 shares of the company traded hands, compared to its average volume of 5,629,683. The firm has a 50 day simple moving average of $156.82 and a 200-day simple moving average of $156.68. The TJX Companies, Inc. has a 52-week low of $119.84 and a 52-week high of $170.00. The stock has a market capitalization of $167.14 billion, a PE ratio of 29.38, a P/E/G ratio of 3.28 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 0.18.

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 net margin of 9.40% and a return on equity of 57.92%. The firm had revenue of $14.32 billion during the quarter, compared to analysts' expectations of $14.02 billion. During the same period in the previous year, the company earned $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. Equities research analysts anticipate that The TJX Companies, Inc. will post 5.17 earnings per share for the current year.

TJX Companies Announces Dividend

The company 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 $0.48 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 1.3%. TJX Companies's payout ratio is presently 37.28%.

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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