SVB Wealth LLC Reduces Stock Position in The TJX Companies, Inc. $TJX

Key Points

• SVB Wealth LLC cut its TJX stake by 21.1% in the first quarter, selling 13,157 shares and ending with 49,220 shares valued at about $7.86 million.
• TJX reported stronger-than-expected quarterly results, with EPS of $1.19 topping estimates and revenue of $14.32 billion beating forecasts; revenue rose 9.2% year over year.
• The company remains well supported by analysts and pays a dividend, with a consensus “Buy” rating and average price target of $174.58, plus a quarterly dividend of $0.48 per share.

SVB Wealth LLC lessened its position in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 21.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,220 shares of the apparel and home fashions retailer's stock after selling 13,157 shares during the period. SVB Wealth LLC's holdings in TJX Companies were worth $7,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Banco Santander S.A. boosted its position in TJX Companies by 24.6% during the 3rd quarter. Banco Santander S.A. now owns 160,368 shares of the apparel and home fashions retailer's stock valued at $23,180,000 after acquiring an additional 31,631 shares in the last quarter. Swiss Life Asset Management Ltd raised its position in shares of 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 worth $57,363,000 after acquiring an additional 32,407 shares in the last quarter. Family Capital Trust Co raised its position in shares of TJX Companies by 1,080.0% in the 4th quarter. Family Capital Trust Co now owns 13,523 shares of the apparel and home fashions retailer's stock worth $2,077,000 after acquiring an additional 12,377 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in shares of TJX Companies by 78.3% in the 4th 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 purchasing an additional 2,989 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of TJX Companies by 6.0% in the 4th quarter. Nordea Investment Management AB now owns 7,479,163 shares of the apparel and home fashions retailer's stock valued at $1,155,830,000 after purchasing an additional 420,232 shares during the period. 91.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Carol Meyrowitz sold 55,624 shares of TJX Companies stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $163.65, for a total value of $9,102,867.60. Following the completion of the transaction, the chairman owned 201,496 shares of the company's stock, valued at $32,974,820.40. The trade was a 21.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jackwyn Nemerov sold 957 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $168.59, for a total transaction of $161,340.63. Following the completion of the transaction, the director owned 802 shares in the company, valued at approximately $135,209.18. The trade was a 54.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 130,367 shares of company stock valued at $20,959,476 over the last ninety days. Insiders own 0.15% of the company's stock.

TJX Companies Stock Performance

Shares of TJX opened at $164.38 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 0.18. The stock has a market cap of $181.59 billion, a P/E ratio of 31.92, a P/E/G ratio of 3.55 and a beta of 0.62. The business's 50 day moving average price is $158.03 and its 200-day moving average price is $156.67. The TJX Companies, Inc. has a 52 week low of $119.84 and a 52 week high of $170.00.

TJX Companies (NYSE:TJX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. The company had revenue of $14.32 billion during the quarter, compared to analyst estimates of $14.02 billion. TJX Companies had a return on equity of 57.92% and a net margin of 9.40%.The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $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 research analysts anticipate that The TJX Companies, Inc. will post 5.17 earnings per share for the current fiscal year.

TJX Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.48 per share. 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%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of TJX Companies in a research note on Thursday, May 21st. Truist Financial set a $190.00 price objective on TJX Companies and gave the company a "buy" rating in a research report on Thursday, May 21st. Robert W. Baird boosted their target price on shares of TJX Companies from $172.00 to $175.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Argus raised shares of TJX Companies to a "strong-buy" rating in a research report on Tuesday, March 3rd. Finally, Citigroup reiterated 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. Three investment analysts have rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $174.58.

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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