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Griffin Asset Management Inc. Increases Holdings in The TJX Companies, Inc. (NYSE:TJX)

Financial News Live · Sep 27, 2022 14:42

Griffin Asset Management Inc. lifted its position in The TJX Companies, Inc. (NYSE:TJX – Get Rating) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,428 shares of the apparel and home fashions retailer's stock after purchasing an additional 5,075 shares during the quarter. TJX Companies comprises 1.5% of Griffin Asset Management Inc.'s holdings, making the stock its 14th largest position. Griffin Asset Management Inc.'s holdings in TJX Companies were worth $9,239,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC raised its stake in shares of TJX Companies by 119.4% in the second quarter. GPS Wealth Strategies Group LLC now owns 452 shares of the apparel and home fashions retailer's stock worth $25,000 after purchasing an additional 246 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of TJX Companies by 117.7% in the second quarter. Financial Management Professionals Inc. now owns 468 shares of the apparel and home fashions retailer's stock worth $26,000 after purchasing an additional 253 shares during the last quarter. Intelligent Financial Strategies purchased a new position in TJX Companies during the fourth quarter valued at approximately $30,000. Herold Advisors Inc. purchased a new position in TJX Companies during the first quarter valued at approximately $30,000. Finally, MCF Advisors LLC purchased a new position in TJX Companies during the first quarter valued at approximately $33,000. 90.42% of the stock is currently owned by hedge funds and other institutional investors.

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TJX Companies Trading Down 0.6 %

NYSE:TJX traded down $0.35 on Tuesday, reaching $59.96. The company's stock had a trading volume of 216,322 shares, compared to its average volume of 4,438,849. The TJX Companies, Inc. has a 12-month low of $53.69 and a 12-month high of $77.35. The company has a quick ratio of 0.47, a current ratio of 1.17 and a debt-to-equity ratio of 0.53. The firm has a market cap of $69.62 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.88 and a beta of 0.90. The stock has a 50 day moving average price of $63.82 and a 200 day moving average price of $61.65.

TJX Companies (NYSE:TJX – Get Rating) last posted its earnings results on Wednesday, August 17th. The apparel and home fashions retailer reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.02. TJX Companies had a return on equity of 61.19% and a net margin of 6.77%. The company had revenue of $11.84 billion for the quarter, compared to the consensus estimate of $12.05 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The company's revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that The TJX Companies, Inc. will post 3.11 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be issued a $0.295 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $1.18 annualized dividend and a dividend yield of 1.97%. TJX Companies's dividend payout ratio is presently 42.14%.

Insider Activity at TJX Companies

In related news, Chairman Carol Meyrowitz sold 70,720 shares of the business's stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $67.62, for a total value of $4,782,086.40. Following the sale, the chairman now owns 264,967 shares in the company, valued at approximately $17,917,068.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ernie Herrman sold 50,282 shares of the business's stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $65.90, for a total value of $3,313,583.80. Following the sale, the chief executive officer now owns 696,439 shares in the company, valued at approximately $45,895,330.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Carol Meyrowitz sold 70,720 shares of the company's stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $67.62, for a total value of $4,782,086.40. Following the sale, the chairman now owns 264,967 shares in the company, valued at approximately $17,917,068.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,375 shares of company stock worth $9,821,034. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird lifted their price target on TJX Companies from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, August 18th. Gordon Haskett lowered TJX Companies from a "buy" rating to a "hold" rating and dropped their price objective for the company from $67.00 to $60.00 in a report on Thursday, July 28th. Barclays lifted their price target on TJX Companies from $72.00 to $76.00 and gave the stock an "overweight" rating in a research note on Friday, August 19th. The Goldman Sachs Group assumed coverage on TJX Companies in a research note on Tuesday, August 2nd. They issued a "neutral" rating and a $70.00 price target on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of TJX Companies in a research note on Wednesday, August 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, TJX Companies has an average rating of "Moderate Buy" and an average target price of $74.94.

TJX Companies Profile

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The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer. 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, kids, and gourmet food departments; jewelry and accessories; and other merchandise.