Norges Bank Buys Shares of 14,399,942 The TJX Companies, Inc. $TJX

Key Points

• Norges Bank disclosed a new stake in TJX Companies, buying 14.4 million shares valued at about $2.21 billion, which gave it roughly 1.3% ownership of the retailer.
• TJX reported a strong quarter, 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 raised its quarterly dividend to $0.48 per share and analysts remain generally positive, with a consensus rating of Buy and an average price target of $174.58.

Norges Bank bought a new stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 14,399,942 shares of the apparel and home fashions retailer's stock, valued at approximately $2,211,975,000. Norges Bank owned approximately 1.30% of TJX Companies at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Entrust Financial LLC acquired a new position in shares of TJX Companies during the fourth quarter worth about $26,000. IMG Wealth Management Inc. grew its position in shares of TJX Companies by 65.7% during the fourth quarter. IMG Wealth Management Inc. now owns 174 shares of the apparel and home fashions retailer's stock worth $27,000 after buying an additional 69 shares in the last quarter. Joseph Group Capital Management acquired a new position in shares of TJX Companies during the fourth quarter worth about $27,000. Miller Global Investments LLC acquired a new position in shares of TJX Companies during the fourth quarter worth about $28,000. Finally, Dogwood Wealth Management LLC grew its position in shares of TJX Companies by 102.2% during the third quarter. Dogwood Wealth Management LLC now owns 182 shares of the apparel and home fashions retailer's stock worth $26,000 after buying an additional 92 shares in the last quarter. 91.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TJX Companies

In other news, CEO Ernie Herrman sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $160.95, for a total transaction of $4,828,500.00. Following the completion of the sale, the chief executive officer owned 479,316 shares in the company, valued at $77,145,910.20. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TJX has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on TJX Companies from $172.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on TJX Companies from $173.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Weiss Ratings downgraded TJX Companies from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, May 8th. UBS Group reaffirmed a "neutral" rating and issued a $197.00 price target (up from $193.00) on shares of TJX Companies in a report on Thursday, May 21st. Finally, Telsey Advisory Group upped their price target on TJX Companies from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $174.58.

TJX Companies Price Performance

TJX Companies stock opened at $155.03 on Friday. The TJX Companies, Inc. has a 12 month low of $119.84 and a 12 month high of $165.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.14 and a quick ratio of 0.54. The business has a 50 day simple moving average of $156.85 and a 200-day simple moving average of $155.08. The stock has a market capitalization of $171.44 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64.

TJX Companies (NYSE:TJX - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 EPS for the quarter, topping 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 business had revenue of $14.32 billion during the quarter, compared to analysts' expectations of $14.02 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company's quarterly revenue was up 9.2% compared to the same quarter last year. 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 5.15 earnings per share for the current year.

TJX Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.2%. This is a boost from TJX Companies's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 14th. TJX Companies's dividend payout ratio (DPR) is currently 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.

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.