Mirabaud Asset Management Ltd Grows Stake in The TJX Companies, Inc. $TJX

Key Points

• Mirabaud Asset Management increased its TJX stake by 20.7% in the fourth quarter, bringing its holdings to 71,053 shares valued at about $10.9 million.
• TJX posted stronger-than-expected quarterly results, with EPS of $1.43 versus estimates of $1.38 and revenue of $17.74 billion, up 8.5% year over year.
• The company raised its quarterly dividend to $0.48 per share, while Wall Street remains upbeat overall with an average Buy rating and target price of $167.55.

Mirabaud Asset Management Ltd lifted its position in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,053 shares of the apparel and home fashions retailer's stock after purchasing an additional 12,196 shares during the quarter. TJX Companies comprises 5.1% of Mirabaud Asset Management Ltd's investment portfolio, making the stock its 7th biggest holding. Mirabaud Asset Management Ltd's holdings in TJX Companies were worth $10,914,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dogwood Wealth Management LLC boosted its holdings in TJX Companies by 102.2% in the third quarter. Dogwood Wealth Management LLC now owns 182 shares of the apparel and home fashions retailer's stock worth $26,000 after acquiring an additional 92 shares in the last quarter. GGM Financials LLC purchased a new position in shares of TJX Companies in the third quarter worth $27,000. Joseph Group Capital Management purchased a new position in shares of TJX Companies in the fourth quarter worth $27,000. Imprint Wealth LLC purchased a new stake in TJX Companies during the third quarter valued at $27,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in TJX Companies during the third quarter valued at $28,000. 91.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Telsey Advisory Group upped their price objective on TJX Companies from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. upped their price target on TJX Companies from $154.00 to $173.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. UBS Group restated a "buy" rating on shares of TJX Companies in a research report on Wednesday, March 4th. BTIG Research restated a "buy" rating and issued a $185.00 price target (up from $165.00) on shares of TJX Companies in a research report on Thursday, February 26th. Finally, Weiss Ratings cut TJX Companies from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating and twenty-two have issued a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $167.55.

TJX Companies Stock Performance

NYSE TJX opened at $153.29 on Monday. The firm has a market cap of $169.51 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 3.53 and a beta of 0.64. The company has a quick ratio of 0.59, 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 $158.32 and a 200-day moving average price of $153.96. The TJX Companies, Inc. has a twelve month low of $119.84 and a twelve month high of $165.82.

TJX Companies (NYSE:TJX - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The apparel and home fashions retailer reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.05. The firm had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.36 billion. TJX Companies had a return on equity of 57.70% and a net margin of 9.10%.The business's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. TJX Companies has set its FY 2027 guidance at 4.930-5.020 EPS and its Q1 2027 guidance at 0.970-0.990 EPS. As a group, equities research analysts predict that The TJX Companies, Inc. will post 5.06 EPS for the current fiscal year.

TJX Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from TJX Companies's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, May 14th. TJX Companies's dividend payout ratio is currently 34.84%.

Insider Buying and Selling at TJX Companies

In other news, CEO Ernie Herrman sold 30,000 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $160.95, for a total value of $4,828,500.00. Following the completion of the transaction, the chief executive officer owned 479,316 shares of the company's stock, valued at $77,145,910.20. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding TJX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The TJX Companies, Inc. (NYSE:TJX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.