The TJX Companies, Inc. (NYSE:TJX) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in The TJX Companies by 0.7%, holding 1,802,282 shares valued at approximately $219.5 million as of the latest reporting period.
• Several institutional investors also raised their positions in TJX during the first quarter, with institutional investors collectively owning 91.09% of the company.
• TJX Companies recently declared a quarterly dividend of $0.425 per share, with a payout ratio of 40% scheduled for payment on September 4th.

PNC Financial Services Group Inc. increased its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,802,282 shares of the apparel and home fashions retailer's stock after buying an additional 13,316 shares during the quarter. PNC Financial Services Group Inc. owned about 0.16% of TJX Companies worth $219,518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC grew its stake in shares of TJX Companies by 210.1% during the 1st quarter. TCTC Holdings LLC now owns 214 shares of the apparel and home fashions retailer's stock worth $26,000 after purchasing an additional 145 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its position in shares of TJX Companies by 58.8% during the 1st 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 buying an additional 110 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of 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 valued at $36,000 after buying an additional 149 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in shares of TJX Companies during the 1st quarter valued at approximately $37,000. Finally, Rialto Wealth Management LLC lifted its position in shares of TJX Companies by 105.9% during 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 buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TJX. Cowen reiterated a "buy" rating on shares of TJX Companies in a research report on Tuesday, May 20th. Daiwa Capital Markets assumed coverage on TJX Companies in a report on Tuesday, July 8th. They issued an "outperform" rating and a $133.00 price objective on the stock. UBS Group restated a "buy" rating and issued a $164.00 price objective (up previously from $154.00) on shares of TJX Companies in a report on Thursday, May 22nd. Wall Street Zen upgraded TJX Companies from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of TJX Companies in a report on Wednesday, May 21st. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TJX Companies presently has an average rating of "Buy" and an average target price of $141.06.

TJX Companies Stock Up 1.1%

NYSE:TJX traded up $1.36 during mid-day trading on Friday, hitting $125.89. The stock had a trading volume of 4,855,347 shares, compared to its average volume of 4,653,086. The company has a market capitalization of $140.63 billion, a PE ratio of 29.62, a PEG ratio of 2.94 and a beta of 0.89. The TJX Companies, Inc. has a twelve month low of $107.71 and a twelve month high of $135.85. The company has a current ratio of 1.16, a quick ratio of 0.51 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $125.01 and a two-hundred day simple moving average of $124.51.

TJX Companies (NYSE:TJX - Get Free Report) last announced its earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $13.11 billion for the quarter, compared to analysts' expectations of $13.01 billion. TJX Companies had a net margin of 8.47% and a return on equity of 58.81%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. On average, equities research analysts anticipate that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, August 14th. TJX Companies's payout ratio is presently 40.00%.

Insider Activity at TJX Companies

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