The Manufacturers Life Insurance Company Purchases 89,256 Shares of The TJX Companies, Inc. $TJX

Key Points

• Manulife increased its TJX position by 10.6%, purchasing 89,256 additional shares to hold 928,957 shares valued at approximately $148.35 million. Institutional investors collectively own 91.09% of the company.
• TJX shares opened at $160.62, up 2.7%, after the company reported quarterly EPS of $1.19 versus the $1.02 consensus estimate and revenue of $14.32 billion, up 9.2% year over year.
• The company declared a quarterly dividend of $0.48 per share, representing a $1.92 annualized payout and a 1.2% yield. Analysts maintain a consensus “Buy” rating with an average price target of $176.89.

The Manufacturers Life Insurance Company raised its position in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 928,957 shares of the apparel and home fashions retailer's stock after acquiring an additional 89,256 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of TJX Companies worth $148,350,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TJX. Vanguard Group Inc. boosted its stake in TJX Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 102,733,668 shares of the apparel and home fashions retailer's stock worth $15,780,919,000 after buying an additional 771,882 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of TJX Companies by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,011,104 shares of the apparel and home fashions retailer's stock worth $4,134,174,000 after acquiring an additional 673,690 shares during the period. Bank of America Corp DE boosted its position in shares of TJX Companies by 2.0% during the 4th quarter. Bank of America Corp DE now owns 25,620,925 shares of the apparel and home fashions retailer's stock valued at $3,935,630,000 after acquiring an additional 495,989 shares in the last quarter. Capital International Investors increased its stake in TJX Companies by 2.0% in the fourth quarter. Capital International Investors now owns 15,986,573 shares of the apparel and home fashions retailer's stock valued at $2,455,911,000 after acquiring an additional 308,408 shares during the period. Finally, Norges Bank acquired a new position in TJX Companies in the fourth quarter worth about $2,211,975,000. Institutional investors and hedge funds own 91.09% of the company's stock.

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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernie Herrman sold 10,002 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $160.68, for a total transaction of $1,607,121.36. Following the sale, the chief executive officer directly owned 514,848 shares in the company, valued at $82,725,776.64. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 130,367 shares of company stock worth $20,959,476 in the last quarter. Insiders own 0.15% of the company's stock.

TJX Companies Stock Up 2.7%

NYSE TJX opened at $160.62 on Wednesday. The stock's 50 day simple moving average is $157.51 and its 200 day simple moving average is $156.62. The TJX Companies, Inc. has a one year low of $123.78 and a one year high of $170.00. The firm has a market cap of $177.44 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.14 and a quick ratio of 0.54.

TJX Companies (NYSE:TJX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.17. The firm had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $14.02 billion. TJX Companies had a return on equity of 57.92% and a net margin of 9.40%.The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company 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. As a group, sell-side analysts forecast 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. Investors of record on Thursday, August 13th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 1.2%. TJX Companies's dividend payout ratio is 37.28%.

Analyst Ratings Changes

TJX has been the topic of several analyst reports. Wall Street Zen upgraded TJX Companies from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Wells Fargo & Company reiterated an "outperform" rating and issued a $160.00 price target (up from $155.00) on shares of TJX Companies in a research report on Thursday, May 21st. Barclays reissued an "overweight" rating and set a $190.00 price objective (up from $183.00) on shares of TJX Companies in a report on Thursday, May 21st. BTIG Research boosted their target price on shares of TJX Companies from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, UBS Group reaffirmed a "buy" rating on shares of TJX Companies in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $176.89.

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.

Want to see what other hedge funds are holding TJX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The TJX Companies, Inc. (NYSE:TJX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.