Lombard Odier Asset Management USA Corp Makes New $1.47 Million Investment in The TJX Companies, Inc. $TJX

Key Points

• Lombard Odier Asset Management USA Corp opened a new position in TJX Companies during Q1, buying 9,232 shares valued at about $1.47 million.
• TJX reported strong quarterly results, with EPS of $1.19 beating estimates and revenue of $14.32 billion topping expectations; revenue also rose 9.2% year over year.
• The company announced a quarterly dividend of $0.48 per share and continues to get broadly positive analyst coverage, with most firms rating the stock Buy and several price targets at $190.

Lombard Odier Asset Management USA Corp bought a new position in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,232 shares of the apparel and home fashions retailer's stock, valued at approximately $1,474,000.

Several other hedge funds also recently made changes to their positions in the business. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna grew its position in TJX Companies by 120.3% during the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 163 shares of the apparel and home fashions retailer's stock worth $25,000 after buying an additional 89 shares in the last quarter. Entrust Financial LLC bought a new position in TJX Companies during the 4th quarter worth $26,000. Wilkerson Advisory Group LLC acquired a new position in TJX Companies in the 4th quarter valued at $26,000. IMG Wealth Management Inc. raised its holdings in TJX Companies by 65.7% in the 4th quarter. IMG Wealth Management Inc. now owns 174 shares of the apparel and home fashions retailer's stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Joseph Group Capital Management bought a new stake in shares of TJX Companies during the 4th quarter valued at $27,000. 91.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ernie Herrman sold 29,549 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $157.46, for a total value of $4,652,785.54. Following the completion of the transaction, the chief executive officer owned 552,850 shares of the company's stock, valued at approximately $87,051,761. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Carol Meyrowitz sold 55,624 shares of the 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 transaction, the chairman directly owned 201,496 shares of the company's stock, valued at $32,974,820.40. This trade represents a 21.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 130,367 shares of company stock worth $20,959,476 in the last ninety days. Insiders own 0.15% of the company's stock.

TJX Companies Trading Up 0.4%

Shares of TJX stock opened at $154.15 on Friday. The TJX Companies, Inc. has a fifty-two week low of $123.78 and a fifty-two week high of $170.00. The stock's fifty day moving average price is $157.19 and its two-hundred day moving average price is $156.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.54 and a current ratio of 1.14. The company has a market cap of $170.29 billion, a PE ratio of 29.93, a P/E/G ratio of 3.34 and a beta of 0.63.

TJX Companies (NYSE:TJX - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $14.02 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. TJX Companies's 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 analysts predict that The TJX Companies, Inc. will post 5.17 EPS for the current fiscal year.

TJX Companies Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays reissued an "overweight" rating and set a $190.00 target price (up from $183.00) on shares of TJX Companies in a report on Thursday, May 21st. Wall Street Zen raised shares of TJX Companies from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Truist Financial set a $190.00 price objective on shares of TJX Companies and gave the stock a "buy" rating in a research report on Thursday, May 21st. Citigroup reiterated a "buy" rating and set a $182.00 price objective (up from $168.00) on shares of TJX Companies in a research note on Thursday, May 21st. Finally, BTIG Research raised their target price on shares of TJX Companies from $185.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $176.89.

TJX Companies 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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