Commerce Bank Has $16.67 Million Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Commerce Bank has increased its holdings in TJX Companies by 24.3%, acquiring an additional 26,711 shares, bringing their total to 136,824 shares valued at $16.67 million.
• Several hedge funds, including Hopwood Financial Services Inc. and US Bancorp DE, also raised their stakes in TJX, indicating strong institutional investor interest with 91.09% of the company’s stock owned by institutional investors.
• Analysts have a consensus "Buy" rating for TJX Companies, with multiple price targets ranging from $140.00 to $164.00, reflecting positive sentiment towards the company's growth prospects.

Commerce Bank raised its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 24.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,824 shares of the apparel and home fashions retailer's stock after purchasing an additional 26,711 shares during the quarter. Commerce Bank's holdings in TJX Companies were worth $16,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Clear Creek Financial Management LLC grew its holdings in TJX Companies by 1.8% in the 1st quarter. Clear Creek Financial Management LLC now owns 4,811 shares of the apparel and home fashions retailer's stock worth $586,000 after buying an additional 83 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in TJX Companies by 2.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 3,986 shares of the apparel and home fashions retailer's stock valued at $485,000 after purchasing an additional 86 shares in the last quarter. Amplius Wealth Advisors LLC boosted its stake in TJX Companies by 4.2% during the 1st quarter. Amplius Wealth Advisors LLC now owns 2,324 shares of the apparel and home fashions retailer's stock valued at $283,000 after purchasing an additional 93 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in TJX Companies by 0.7% during the 1st quarter. Aaron Wealth Advisors LLC now owns 14,156 shares of the apparel and home fashions retailer's stock valued at $1,724,000 after purchasing an additional 96 shares in the last quarter. Finally, Horizon Wealth Management LLC lifted its position in shares of TJX Companies by 2.0% during the 1st quarter. Horizon Wealth Management LLC now owns 4,945 shares of the apparel and home fashions retailer's stock valued at $602,000 after acquiring an additional 99 shares during the last quarter. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley set a $140.00 price objective on TJX Companies and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Daiwa Capital Markets assumed coverage on TJX Companies in a research report on Tuesday, July 8th. They set an "outperform" rating and a $133.00 price objective for the company. BMO Capital Markets reiterated an "outperform" rating on shares of TJX Companies in a research report on Wednesday, May 21st. Barclays reiterated an "overweight" rating and set a $147.00 price objective (up previously from $137.00) on shares of TJX Companies in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded TJX Companies from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TJX Companies has a consensus rating of "Buy" and a consensus target price of $141.06.

Insider Activity

In other news, Director Amy B. Lane sold 950 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total value of $121,685.50. Following the sale, the director directly owned 22,712 shares of the company's stock, valued at approximately $2,909,180.08. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company's stock.

TJX Companies Stock Up 1.1%

TJX Companies stock traded up $1.36 during mid-day trading on Friday, hitting $125.89. 4,855,347 shares of the company's stock were exchanged, compared to its average volume of 4,653,086. 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 market cap of $140.63 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.94 and a beta of 0.89. The TJX Companies, Inc. has a 1-year low of $107.71 and a 1-year high of $135.85. The stock has a 50 day moving average of $125.01 and a two-hundred day moving average of $124.51.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $13.11 billion for the quarter, compared to the consensus estimate of $13.01 billion. TJX Companies had a return on equity of 58.81% and a net margin of 8.47%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. As a group, analysts anticipate that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, August 14th. TJX Companies's dividend payout ratio (DPR) is currently 40.00%.

TJX Companies Company 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.