The TJX Companies, Inc. (NYSE:TJX) Shares Sold by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC has reduced its stake in The TJX Companies by 2.9%, now holding 149,855 shares worth approximately $18.25 million.
• Several research analysts have improved their price targets for TJX shares, with prices ranging from $143.00 to $164.00, and the overall rating for the stock remains a strong "buy."
• The TJX Companies reported a 5.1% increase in revenue year-on-year, with earnings per share of $0.92, surpassing analysts' expectations.

Empower Advisory Group LLC trimmed its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,855 shares of the apparel and home fashions retailer's stock after selling 4,439 shares during the period. Empower Advisory Group LLC's holdings in TJX Companies were worth $18,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. TCTC Holdings LLC grew its holdings in shares of TJX Companies by 210.1% in the first quarter. TCTC Holdings LLC now owns 214 shares of the apparel and home fashions retailer's stock valued at $26,000 after purchasing an additional 145 shares during the period. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of 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 grew its holdings in shares of TJX Companies by 99.3% in the first quarter. Iron Horse Wealth Management LLC now owns 299 shares of the apparel and home fashions retailer's stock valued at $36,000 after purchasing an additional 149 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of TJX Companies in the first quarter valued at about $37,000. Finally, Rialto Wealth Management LLC boosted its stake in TJX Companies by 105.9% during the first quarter. Rialto Wealth Management LLC now owns 348 shares of the apparel and home fashions retailer's stock worth $42,000 after buying an additional 179 shares during the period. 91.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on TJX shares. UBS Group reaffirmed a "buy" rating and set a $164.00 target price (up previously from $154.00) on shares of TJX Companies in a research note on Thursday, May 22nd. Robert W. Baird increased their target price on shares of TJX Companies from $140.00 to $143.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their price target on shares of TJX Companies from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Daiwa America raised shares of TJX Companies to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Citigroup raised shares of TJX Companies from a "neutral" rating to a "buy" rating in a research 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.com, the stock presently has an average rating of "Buy" and an average price target of $141.06.

Insider Activity

In other news, Director Amy B. Lane sold 950 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 22,712 shares of the company's stock, valued at approximately $2,909,180.08. This represents a 4.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

TJX Companies Stock Performance

Shares of TJX opened at $128.90 on Wednesday. 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 firm has a market cap of $143.99 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.89. The company's 50 day simple moving average is $125.10 and its 200-day simple moving average is $124.59. 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 announced its earnings results 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 for the quarter, compared to analyst estimates of $13.01 billion. During the same period last year, the firm posted $0.93 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. TJX Companies's dividend payout ratio is 40.00%.

TJX Companies Profile

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.

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