Scotia Capital Inc. has boosted its holdings in The TJX Companies, Inc. (NYSE: TJX) by 1.3% during the second quarter of 2023, according to data from HoldingsChannel. The institutional investor acquired an additional 4,172 shares, bringing its total ownership to 317,163 shares, valued at approximately $39.16 million as per its latest filing with the Securities and Exchange Commission (SEC).
This move is part of a broader trend among institutional investors and hedge funds, who have been actively buying and selling shares of TJX. Notably, Nuveen LLC established a new position in TJX during the first quarter, valued at around $1.33 billion. Similarly, Laurel Wealth Advisors LLC made a significant leap by increasing its holdings by an impressive 12,417%, now owning 4,057,273 shares worth about $501 million. Other firms, including ABN AMRO Bank N.V. and Mirova US LLC, have also made substantial investments, reflecting strong institutional interest in the retail giant.
Analyst Ratings and Stock Performance
Equities analysts have shown positive sentiment towards TJX Companies, with several raising their price targets recently. JPMorgan Chase & Co. increased its target from $150.00 to $154.00 and assigned an “overweight” rating. BTIG Research reiterated a “buy” rating with a target price of $165.00, while Morgan Stanley adjusted its target from $159.00 to $162.00. Citigroup also revised its target upward to $168.00.
Overall, one analyst has issued a Strong Buy rating for the stock, while twenty-three have rated it as a Buy and one as a Hold. According to MarketBeat.com, the average rating stands at “Buy” with a consensus price target of $158.90.
On the trading front, TJX Companies saw its stock open at $153.32 on November 21, 2023. The stock has demonstrated impressive performance over the past year, registering a 52-week low of $112.10 and a high of $154.66. With a market capitalization of $170.63 billion and a price-to-earnings ratio of 34.92, the company continues to attract investor interest.
Quarterly Earnings and Future Guidance
TJX Companies recently reported its quarterly earnings on November 19, 2023. The retailer announced earnings per share (EPS) of $1.28, surpassing analysts’ expectations of $1.22 by $0.06. The company achieved a net margin of 8.59% and a return on equity of 58.63%. Revenue for the quarter reached $15.12 billion, exceeding forecasts of $14.80 billion and marking a 7.5% increase compared to the same period last year.
Looking ahead, TJX Companies has set its Q4 2026 guidance at $1.330-$1.360 EPS and FY 2026 guidance at $4.630-$4.660 EPS. Analysts anticipate that the company will post an average EPS of $4.18 for the current fiscal year.
The company also announced a quarterly dividend of $0.425 per share, scheduled for payment on December 4, 2023. Shareholders of record on November 13, 2023, will receive the dividend, which represents an annualized amount of $1.70 and a yield of 1.1%. The dividend payout ratio currently stands at 37.53%.
Insider Transactions
In related news, director Amy B. Lane sold 500 shares of the company on November 21, 2023, at an average price of $151.40, amounting to a total of $75,700. Following this transaction, Lane holds 22,212 shares valued at approximately $3.36 million.
CEO Ernie Herrman also sold 24,363 shares on the same day, realizing $3.69 million from the sale. His current holdings now total 510,780 shares, valued at around $77.29 million. In total, insiders have sold 54,863 shares worth $8.23 million over the past three months, and insiders now own 0.13% of the company.
Company Overview
The TJX Companies, Inc. operates as an off-price retailer of apparel and home fashions across the United States, Canada, Europe, and Australia. The company encompasses various segments, including Marmaxx, HomeGoods, TJX Canada, and TJX International. Its product range features family apparel, home furnishings, and a variety of other merchandise, catering to diverse consumer needs.
For further updates on institutional holdings and insider trades for The TJX Companies, visit HoldingsChannel.com.
