Van ECK Associates Corp Buys 10,969 Shares of The TJX Companies, Inc. $TJX

Key Points

• Van ECK Associates increased its TJX position by 3.3% in the second quarter, adding 10,969 shares to hold 340,295 shares valued at $51.6 million. Institutional investors own approximately 91.09% of the company.
• TJX insiders sold 130,367 shares worth roughly $21.0 million over the past 90 days, including sizable sales by CFO John Klinger and Chairman Carol Meyrowitz.
• TJX exceeded quarterly earnings and revenue expectations, with EPS of $1.22 and revenue of $15.18 billion, while maintaining a $0.48 quarterly dividend. Analysts hold a consensus “Moderate Buy” rating with a $172.84 price target.

Van ECK Associates Corp boosted its position in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 3.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 340,295 shares of the apparel and home fashions retailer's stock after purchasing an additional 10,969 shares during the quarter. Van ECK Associates Corp's holdings in TJX Companies were worth $51,555,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Ferguson Wellman Capital Management Inc. increased its position in TJX Companies by 1.2% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 480,461 shares of the apparel and home fashions retailer's stock valued at $72,790,000 after buying an additional 5,862 shares in the last quarter. Nissay Asset Management Corp Japan boosted its holdings in TJX Companies by 3.8% in the second quarter. Nissay Asset Management Corp Japan now owns 155,537 shares of the apparel and home fashions retailer's stock worth $23,564,000 after acquiring an additional 5,687 shares in the last quarter. Field & Main Bank acquired a new stake in TJX Companies in the second quarter worth about $2,667,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of TJX Companies during the second quarter worth about $9,821,000. Finally, Archer Investment Corp purchased a new stake in shares of TJX Companies during the second quarter worth about $201,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO John Klinger sold 6,235 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $160.77, for a total value of $1,002,400.95. Following the completion of the transaction, the chief financial officer owned 64,257 shares of the company's stock, valued at $10,330,597.89. The trade was a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Carol Meyrowitz sold 55,624 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $163.65, for a total value of $9,102,867.60. Following the completion of the sale, the chairman owned 201,496 shares in the company, valued at $32,974,820.40. The trade was a 21.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 130,367 shares of company stock worth $20,959,476. Corporate insiders own 0.15% of the company's stock.

TJX Companies Stock Performance

Shares of NYSE TJX opened at $135.16 on Friday. The company has a 50 day simple moving average of $152.86 and a two-hundred day simple moving average of $156.07. The stock has a market cap of $149.31 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.61 and a beta of 0.62. The company has a current ratio of 1.15, a quick ratio of 0.56 and a debt-to-equity ratio of 0.18. The TJX Companies, Inc. has a 12 month low of $133.55 and a 12 month high of $170.00.

TJX Companies (NYSE:TJX - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. TJX Companies had a net margin of 9.73% and a return on equity of 56.56%. The firm had revenue of $15.18 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. TJX Companies has set its FY 2027 guidance at 5.150-5.200 EPS and its Q3 2027 guidance at 1.360-1.380 EPS. As a group, analysts predict that The TJX Companies, Inc. will post 5.21 earnings per share for the current year.

TJX Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.4%. TJX Companies's dividend payout ratio (DPR) is presently 35.49%.

Analysts Set New Price Targets

Several brokerages recently commented on TJX. Citigroup lowered shares of TJX Companies from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $182.00 to $154.00 in a research report on Thursday, August 20th. Morgan Stanley set a $178.00 price target on shares of TJX Companies and gave the company an "overweight" rating in a research note on Thursday, August 20th. Evercore reaffirmed an "outperform" rating and issued a $173.00 price target on shares of TJX Companies in a report on Thursday, August 20th. Truist Financial set a $190.00 price objective on shares of TJX Companies and gave the stock a "buy" rating in a research note on Thursday, May 21st. Finally, Weiss Ratings lowered shares of TJX Companies from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, TJX Companies has a consensus rating of "Moderate Buy" and a consensus price target of $172.84.

TJX Companies Company Profile

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.

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