OVERSEA CHINESE BANKING Corp Ltd Boosts Holdings in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in TJX Companies by 23.7%, resulting in a stock position valued at $20.69 million.
• In the 1st quarter, 91.09% of TJX's stock is owned by institutional investors and hedge funds, with notable increases from firms like GAMMA Investing LLC and Capital Research Global Investors.
• TJX Companies reported a quarterly EPS of $0.92, exceeding analyst estimates, alongside revenues of $13.11 billion, marking a 5.1% increase year-over-year.

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,938 shares of the apparel and home fashions retailer's stock after acquiring an additional 32,605 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in TJX Companies were worth $20,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TJX. Shell Asset Management Co. boosted its stake in TJX Companies by 16.5% in the fourth quarter. Shell Asset Management Co. now owns 29,168 shares of the apparel and home fashions retailer's stock valued at $3,524,000 after acquiring an additional 4,128 shares during the last quarter. Pathstone Holdings LLC boosted its stake in TJX Companies by 10.1% in the fourth quarter. Pathstone Holdings LLC now owns 736,616 shares of the apparel and home fashions retailer's stock valued at $88,992,000 after acquiring an additional 67,853 shares during the last quarter. Ethic Inc. boosted its stake in TJX Companies by 21.1% in the fourth quarter. Ethic Inc. now owns 167,169 shares of the apparel and home fashions retailer's stock valued at $20,196,000 after acquiring an additional 29,158 shares during the last quarter. Fiduciary Trust Co boosted its stake in TJX Companies by 5.2% in the fourth quarter. Fiduciary Trust Co now owns 2,891,186 shares of the apparel and home fashions retailer's stock valued at $349,284,000 after acquiring an additional 144,113 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in TJX Companies by 2.2% in the first quarter. Pinnacle Financial Partners Inc now owns 387,342 shares of the apparel and home fashions retailer's stock valued at $46,989,000 after acquiring an additional 8,319 shares during the last quarter. 91.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TJX. BMO Capital Markets reiterated an "outperform" rating on shares of TJX Companies in a research note on Wednesday, May 21st. TD Securities upped their price target on shares of TJX Companies from $140.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. UBS Group restated a "buy" rating and set a $164.00 price target (up from $154.00) on shares of TJX Companies in a research note on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $147.00 price target (up from $137.00) on shares of TJX Companies in a research note on Thursday, May 22nd. Finally, Morgan Stanley set a $140.00 price target on shares of TJX Companies and gave the company an "overweight" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $141.06.

TJX Companies Trading Up 1.1%

Shares of TJX stock traded up $1.36 on Friday, hitting $125.89. 4,855,347 shares of the company's stock traded hands, compared to its average volume of 4,653,086. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.51 and a current ratio of 1.16. The TJX Companies, Inc. has a one year low of $107.71 and a one year high of $135.85. The company's fifty day simple moving average is $125.01 and its 200 day simple moving average is $124.51. The stock has a market capitalization of $140.63 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 2.94 and a beta of 0.89.

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

TJX Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.70 annualized dividend and a dividend yield of 1.4%. TJX Companies's dividend payout ratio (DPR) is currently 40.00%.

Insider Activity at TJX Companies

In related news, Director Amy B. Lane sold 950 shares of the stock in a transaction on Tuesday, June 3rd. The shares were 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 of the company's stock, valued at approximately $2,909,180.08. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

About TJX Companies

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.