Washington Trust Bank Sells 12,023 Shares of The TJX Companies, Inc. $TJX

Key Points

• Washington Trust Bank cut its TJX Companies stake by 11.7%, selling 12,023 shares in the second quarter and retaining 90,390 shares valued at approximately $13.7 million.
• TJX reported quarterly earnings of $1.22 per share, exceeding estimates, while revenue rose 5.4% year over year to $15.18 billion. The company also declared a $0.48 quarterly dividend, equivalent to a 1.4% annual yield.
• Institutional investors own 91.09% of TJX shares, and analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $172.84, despite recent insider selling and mixed rating changes.

Washington Trust Bank reduced its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 11.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,390 shares of the apparel and home fashions retailer's stock after selling 12,023 shares during the period. TJX Companies makes up 1.0% of Washington Trust Bank's portfolio, making the stock its 27th largest holding. Washington Trust Bank's holdings in TJX Companies were worth $13,694,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in TJX Companies during the second quarter valued at approximately $16,489,926,000. Bank of America Corp DE purchased a new stake in TJX Companies during the 2nd quarter valued at $3,511,553,000. Norges Bank bought a new stake in TJX Companies in the fourth quarter worth $2,211,975,000. Bank of New York Mellon Corp purchased a new position in TJX Companies during the second quarter worth $1,598,731,000. Finally, Primecap Management Co. CA bought a new position in TJX Companies during the second quarter valued at $1,435,617,000. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

TJX Companies Price Performance

TJX opened at $135.16 on Friday. The company has a market capitalization 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. The business's fifty day simple moving average is $152.86 and its 200-day simple moving average is $156.07.

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, beating the consensus estimate of $1.19 by $0.03. TJX Companies had a return on equity of 56.56% and a net margin of 9.73%.The firm had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The firm's quarterly revenue was up 5.4% on a year-over-year basis. 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. On average, equities research analysts anticipate that The TJX Companies, Inc. will post 5.21 earnings per share for the current fiscal year.

TJX Companies Dividend Announcement

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

Insider Buying and Selling at TJX Companies

In other TJX Companies news, Chairman Carol Meyrowitz sold 55,624 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $163.65, for a total transaction 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. This represents a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ernie Herrman sold 29,549 shares of TJX Companies stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $157.46, for a total value of $4,652,785.54. Following the completion of the transaction, the chief executive officer owned 552,850 shares in the company, valued at $87,051,761. This represents a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 130,367 shares of company stock worth $20,959,476. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TJX. Sanford C. Bernstein restated an "outperform" rating and issued a $175.00 target price on shares of TJX Companies in a report on Tuesday. Gordon Haskett reissued an "accumulate" rating and issued a $155.00 price objective on shares of TJX Companies in a research report on Thursday, August 20th. Wall Street Zen downgraded shares of TJX Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. UBS Group reaffirmed a "buy" rating and set a $198.00 target price (up from $197.00) on shares of TJX Companies in a research note on Thursday, August 20th. Finally, Citigroup downgraded TJX Companies from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $182.00 to $154.00 in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, TJX Companies presently has an average 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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