Summit Global Investments Purchases New Holdings in The TJX Companies, Inc. $TJX

Key Points

• Summit Global Investments acquired 6,792 shares of TJX Companies during the second quarter, valued at approximately $1.03 million. Institutional investors collectively own 91.09% of the retailer’s outstanding shares.
• Analysts remain bullish, with TJX receiving a consensus “Buy” rating and an average price target of $177.94. Recent targets range from $175 to $190.
• TJX reported quarterly earnings of $1.19 per share, exceeding estimates of $1.02, while revenue rose 9.2% year over year to $14.32 billion. The company also declared a quarterly dividend of $0.48 per share, representing a 1.3% annualized yield.

Summit Global Investments acquired a new position in The TJX Companies, Inc. (NYSE:TJX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,792 shares of the apparel and home fashions retailer's stock, valued at approximately $1,029,000.

Several other large investors also recently bought and sold shares of TJX. Swiss Life Asset Management Ltd grew its position in shares of TJX Companies by 9.5% in the fourth 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 purchasing an additional 32,407 shares in the last quarter. Family Capital Trust Co lifted its position in TJX Companies by 1,080.0% during the fourth quarter. Family Capital Trust Co now owns 13,523 shares of the apparel and home fashions retailer's stock worth $2,077,000 after buying an additional 12,377 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in TJX Companies by 78.3% during the fourth quarter. J.Safra Asset Management Corp now owns 6,805 shares of the apparel and home fashions retailer's stock worth $1,045,000 after buying an additional 2,989 shares during the last quarter. Bluedoor Private Wealth LLC acquired a new position in TJX Companies during the fourth quarter worth $2,559,000. Finally, BNP Paribas grew its holdings in TJX Companies by 346.0% in the 4th quarter. BNP Paribas now owns 11,626 shares of the apparel and home fashions retailer's stock valued at $1,786,000 after buying an additional 9,019 shares in the last quarter. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TJX. BTIG Research lifted their price target on TJX Companies from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Truist Financial set a $190.00 price objective on shares of TJX Companies and gave the company a "buy" rating in a report on Thursday, May 21st. Robert W. Baird lifted their target price on shares of TJX Companies from $172.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. Wall Street Zen upgraded shares of TJX Companies from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Citigroup reissued a "buy" rating and issued a $182.00 price target (up from $168.00) on shares of TJX Companies in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $177.94.

TJX Companies Stock Performance

Shares of TJX Companies stock opened at $152.00 on Monday. The TJX Companies, Inc. has a 52 week low of $132.01 and a 52 week high of $170.00. The business's fifty day simple moving average is $157.63 and its 200-day simple moving average is $156.78. The firm has a market cap of $167.91 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 0.18.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The business had revenue of $14.32 billion during the quarter, compared to analysts' expectations of $14.02 billion. TJX Companies had a return on equity of 57.92% and a net margin of 9.40%.The company's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. 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 forecast that The TJX Companies, Inc. will post 5.19 earnings per share for the current year.

TJX Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 13th. TJX Companies's dividend payout ratio (DPR) is 37.28%.

Insider Activity at TJX Companies

In other news, Director Jackwyn Nemerov sold 957 shares of the company'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 transaction, the director directly owned 802 shares in the company, valued at approximately $135,209.18. This represents a 54.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernie Herrman sold 29,549 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $157.46, for a total transaction of $4,652,785.54. Following the completion of the transaction, the chief executive officer owned 552,850 shares in the company, valued at approximately $87,051,761. This represents a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 130,367 shares of company stock worth $20,959,476. 0.15% of the stock is owned by corporate insiders.

TJX Companies Company 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.

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