PNC Financial Services Group Inc. Grows Position in The TJX Companies, Inc. $TJX

Key Points

• PNC Financial Services Group boosted its TJX stake by 5.6% in the first quarter, ending with 2.16 million shares valued at about $344.3 million.
• Wall Street remains upbeat on TJX, with a consensus “Buy” rating and an average target price of $176.89 after several analysts raised targets or reiterated bullish views.
• TJX reported strong quarterly results, beating earnings and revenue estimates, and also announced a quarterly dividend of $0.48 per share, payable September 3.

PNC Financial Services Group Inc. raised its stake in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,155,713 shares of the apparel and home fashions retailer's stock after acquiring an additional 113,974 shares during the period. PNC Financial Services Group Inc. owned about 0.19% of TJX Companies worth $344,267,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Swiss Life Asset Management Ltd increased its stake in TJX Companies by 9.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 373,430 shares of the apparel and home fashions retailer's stock valued at $57,363,000 after buying an additional 32,407 shares during the last quarter. Family Capital Trust Co grew its holdings in shares of TJX Companies by 1,080.0% in the fourth quarter. Family Capital Trust Co now owns 13,523 shares of the apparel and home fashions retailer's stock valued at $2,077,000 after acquiring an additional 12,377 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in shares of TJX Companies by 78.3% in the fourth quarter. J.Safra Asset Management Corp now owns 6,805 shares of the apparel and home fashions retailer's stock valued at $1,045,000 after acquiring an additional 2,989 shares in the last quarter. Bluedoor Private Wealth LLC purchased a new stake in shares of TJX Companies during the fourth quarter valued at approximately $2,559,000. Finally, Robinhood Asset Management LLC purchased a new stake in shares of TJX Companies during the fourth quarter valued at approximately $7,140,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TJX shares. Wall Street Zen raised TJX Companies from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. raised their target price on TJX Companies from $173.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Telsey Advisory Group lifted their target price on TJX Companies from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. Evercore reissued an "outperform" rating and issued a $175.00 price target on shares of TJX Companies in a report on Thursday, May 21st. Finally, Weiss Ratings upgraded shares of TJX Companies from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $176.89.

TJX Companies Stock Performance

Shares of TJX opened at $155.00 on Wednesday. The firm has a market cap of $171.23 billion, a PE ratio of 30.10, a PEG ratio of 3.37 and a beta of 0.63. The stock's fifty day moving average price is $156.77 and its two-hundred day moving average price is $156.55. 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 TJX Companies, Inc. has a 1 year low of $123.78 and a 1 year high of $170.00.

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 earnings per share 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 company had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm'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. On average, equities research analysts forecast that The TJX Companies, Inc. will post 5.17 EPS for the current year.

TJX Companies Dividend Announcement

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

Insider Buying and Selling at TJX Companies

In other news, Director Jackwyn Nemerov sold 957 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $168.59, for a total value of $161,340.63. Following the sale, the director owned 802 shares of the company's stock, valued at $135,209.18. The trade was a 54.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ernie Herrman sold 29,549 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $157.46, for a total transaction of $4,652,785.54. Following the sale, the chief executive officer owned 552,850 shares in the company, valued at $87,051,761. The trade was a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 130,367 shares of company stock worth $20,959,476 over the last three months. Company insiders own 0.15% of the company's stock.

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.

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