First Western Trust Bank Reduces Position in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• First Western Trust Bank has reduced its holdings in TJX Companies by 7.6%, owning 75,886 shares valued at approximately $9.24 million.
• Analysts have issued favorable ratings for TJX, with the stock receiving an average rating of "Buy"** and a price target ranging from $140.00 to $145.00.
• The company recently reported earnings of $0.92 per share, beating estimates, with a quarterly revenue of $13.11 billion, marking a 5.1% increase from the previous year.

First Western Trust Bank lowered its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,886 shares of the apparel and home fashions retailer's stock after selling 6,282 shares during the quarter. TJX Companies accounts for approximately 0.4% of First Western Trust Bank's portfolio, making the stock its 18th largest position. First Western Trust Bank's holdings in TJX Companies were worth $9,243,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Shell Asset Management Co. increased its stake in TJX Companies by 16.5% during the 4th quarter. Shell Asset Management Co. now owns 29,168 shares of the apparel and home fashions retailer's stock valued at $3,524,000 after purchasing an additional 4,128 shares in the last quarter. Pathstone Holdings LLC increased its stake in TJX Companies by 10.1% during the 4th quarter. Pathstone Holdings LLC now owns 736,616 shares of the apparel and home fashions retailer's stock valued at $88,992,000 after purchasing an additional 67,853 shares in the last quarter. Ethic Inc. increased its stake in TJX Companies by 21.1% during the 4th quarter. Ethic Inc. now owns 167,169 shares of the apparel and home fashions retailer's stock valued at $20,196,000 after purchasing an additional 29,158 shares in the last quarter. Fiduciary Trust Co increased its stake in TJX Companies by 5.2% during the 4th quarter. Fiduciary Trust Co now owns 2,891,186 shares of the apparel and home fashions retailer's stock valued at $349,284,000 after purchasing an additional 144,113 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its stake in TJX Companies by 2.2% during the 1st quarter. Pinnacle Financial Partners Inc now owns 387,342 shares of the apparel and home fashions retailer's stock valued at $46,989,000 after purchasing an additional 8,319 shares in the last quarter. Institutional investors own 91.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TJX shares. Barclays restated an "overweight" rating and set a $147.00 price target (up previously from $137.00) on shares of TJX Companies in a research note on Thursday, May 22nd. Wells Fargo & Company restated an "equal weight" rating on shares of TJX Companies in a research note on Wednesday, May 21st. Cowen reiterated a "buy" rating on shares of TJX Companies in a research note on Tuesday, May 20th. Daiwa Capital Markets initiated coverage on shares of TJX Companies in a research note on Tuesday, July 8th. They issued an "outperform" rating and a $133.00 target price for the company. Finally, Robert W. Baird upped 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. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TJX Companies currently has a consensus rating of "Buy" and a consensus target price of $141.06.

Insider Buying and Selling at TJX Companies

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 sale, the director owned 22,712 shares of the company's stock, valued at approximately $2,909,180.08. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.

TJX Companies Price Performance

NYSE TJX traded down $0.34 on Friday, reaching $131.64. 4,629,642 shares of the company's stock traded hands, compared to its average volume of 4,801,404. The TJX Companies, Inc. has a 12 month low of $107.71 and a 12 month high of $135.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 0.51. The stock has a 50-day simple moving average of $125.41 and a 200 day simple moving average of $124.80. The stock has a market cap of $147.06 billion, a PE ratio of 30.97, a P/E/G ratio of 3.07 and a beta of 0.89.

TJX Companies (NYSE:TJX - Get Free Report) last issued its quarterly 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. 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 analysts' expectations of $13.01 billion. During the same period last year, the business earned $0.93 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that The TJX Companies, Inc. will post 4.18 earnings per share for the current year.

TJX Companies Dividend Announcement

The business also recently disclosed 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.