Meeder Asset Management Inc. Sells 166,941 Shares of The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Meeder Asset Management Inc. significantly decreased its holdings in The TJX Companies, selling 166,941 shares and reducing its position by 90.2% during the first quarter, leaving it with just 18,238 shares valued at approximately $2.2 million.
• The TJX Companies reported a quarterly EPS of $0.92, exceeding analyst estimates of $0.90, with a revenue of $13.11 billion, reflecting a year-over-year increase of 5.1%.
• The company's stock is currently rated as a "Buy" by the majority of analysts, with an average target price of $141.06, showcasing strong expectations for future growth.

Meeder Asset Management Inc. reduced its position in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 90.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,238 shares of the apparel and home fashions retailer's stock after selling 166,941 shares during the quarter. Meeder Asset Management Inc.'s holdings in TJX Companies were worth $2,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC raised its stake in TJX Companies by 58.8% during 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 acquiring an additional 110 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in TJX Companies by 99.3% during 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 acquiring an additional 149 shares in the last quarter. Inlight Wealth Management LLC acquired a new position in TJX Companies during the first quarter worth $37,000. Rialto Wealth Management LLC raised its stake in TJX Companies by 105.9% during the first quarter. Rialto Wealth Management LLC now owns 348 shares of the apparel and home fashions retailer's stock worth $42,000 after acquiring an additional 179 shares in the last quarter. Finally, Proathlete Wealth Management LLC acquired a new position in TJX Companies during the first quarter worth $52,000. 91.09% of the stock is owned by institutional investors.

TJX Companies Price Performance

Shares of TJX stock opened at $125.28 on Tuesday. The stock has a 50-day moving average price of $125.39 and a 200 day moving average price of $124.35. 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 firm has a market cap of $139.95 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.95 and a beta of 0.88. The TJX Companies, Inc. has a 12 month low of $107.71 and a 12 month high of $135.85.

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

TJX Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given 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 1.36%. TJX Companies's payout ratio is 40.00%.

Insider Transactions at TJX Companies

In other TJX Companies news, Director Amy B. Lane sold 950 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total transaction of $121,685.50. Following the transaction, the director owned 22,712 shares in the company, valued at approximately $2,909,180.08. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup upgraded TJX Companies from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 21st. Daiwa America upgraded TJX Companies to a "strong-buy" rating in a research note on Tuesday, July 8th. Cowen reiterated a "buy" rating on shares of TJX Companies in a research note on Tuesday, May 20th. BMO Capital Markets restated an "outperform" rating on shares of TJX Companies in a research note on Wednesday, May 21st. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $145.00 target price on shares of TJX Companies in a research note on Wednesday, May 21st. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TJX Companies currently has an average rating of "Buy" and an average target price of $141.06.

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.

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