Skandinaviska Enskilda Banken AB publ Purchases 15,900 Shares of The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in The TJX Companies, Inc. by 5.1%, owning 325,568 shares worth approximately $39.65 million after adding 15,900 shares in the first quarter.
• Several institutional investors, including Clear Creek Financial Management LLC and Salem Investment Counselors Inc., have also raised their stakes in TJX, indicating strong institutional interest.
• Wall Street analysts are optimistic about TJX Companies, with a consensus rating of "Buy" and multiple firms increasing their price targets, including UBS, which set a target at $164.00.

Skandinaviska Enskilda Banken AB publ boosted its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,568 shares of the apparel and home fashions retailer's stock after buying an additional 15,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in TJX Companies were worth $39,654,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its holdings in TJX Companies by 58.8% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 297 shares of the apparel and home fashions retailer's stock valued at $36,000 after purchasing an additional 110 shares during the period. Iron Horse Wealth Management LLC raised its holdings in TJX Companies by 99.3% during the 1st quarter. Iron Horse Wealth Management LLC now owns 299 shares of the apparel and home fashions retailer's stock worth $36,000 after purchasing an additional 149 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in shares of TJX Companies in the 1st quarter worth approximately $37,000. Rialto Wealth Management LLC boosted its stake in shares of TJX Companies by 105.9% in the 1st quarter. Rialto Wealth Management LLC now owns 348 shares of the apparel and home fashions retailer's stock valued at $42,000 after purchasing an additional 179 shares during the last quarter. Finally, Proathlete Wealth Management LLC acquired a new stake in shares of TJX Companies during the first quarter worth $52,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TJX shares. Loop Capital set a $150.00 target price on shares of TJX Companies and gave the company a "buy" rating in a report on Thursday, May 22nd. Citigroup raised TJX Companies from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 21st. BMO Capital Markets restated an "outperform" rating on shares of TJX Companies in a report on Wednesday, May 21st. Wall Street Zen upgraded shares of TJX Companies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TJX Companies from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TJX Companies presently has an average rating of "Buy" and a consensus target price of $141.06.

TJX Companies Stock Up 0.0%

Shares of NYSE TJX traded up $0.03 during trading on Friday, hitting $126.29. The stock had a trading volume of 5,143,166 shares, compared to its average volume of 4,623,807. The firm has a fifty day moving average of $125.58 and a two-hundred day moving average of $124.30. The company has a market capitalization of $141.07 billion, a PE ratio of 29.71, a PEG ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 0.51. 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 issued its quarterly earnings data on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. TJX Companies had a net margin of 8.47% and a return on equity of 58.81%. The business had revenue of $13.11 billion during the quarter, compared to the consensus estimate of $13.01 billion. During the same period in the prior year, the firm posted $0.93 EPS. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently declared 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 is Thursday, August 14th. This represents a $1.70 dividend on an annualized basis and a yield of 1.35%. TJX Companies's dividend payout ratio (DPR) is currently 40.00%.

Insiders Place Their Bets

In other news, Director Amy B. Lane sold 950 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total transaction of $121,685.50. Following the completion of the sale, the director directly owned 22,712 shares of the company's stock, valued at $2,909,180.08. This trade represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.