Bank of New York Mellon Corp Sells 1,380,398 Shares of The TJX Companies, Inc. $TJX

Bank of New York Mellon Corp decreased its position in shares of The TJX Companies, Inc. (NYSE:TJX) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,164,828 shares of the apparel and home fashions retailer’s stock after selling 1,380,398 shares during the period. Bank of New York Mellon Corp owned approximately 1.28% of TJX Companies worth $2,175,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Entrust Financial LLC bought a new position in shares of TJX Companies in the fourth quarter worth about $26,000. IMG Wealth Management Inc. grew its holdings in shares of TJX Companies by 65.7% in the fourth quarter. IMG Wealth Management Inc. now owns 174 shares of the apparel and home fashions retailer’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Joseph Group Capital Management bought a new position in shares of TJX Companies in the fourth quarter worth about $27,000. Miller Global Investments LLC bought a new position in shares of TJX Companies in the fourth quarter worth about $28,000. Finally, Dogwood Wealth Management LLC grew its holdings in shares of TJX Companies by 102.2% in the third quarter. Dogwood Wealth Management LLC now owns 182 shares of the apparel and home fashions retailer’s stock worth $26,000 after purchasing an additional 92 shares during the last quarter. 91.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TJX has been the topic of several recent research reports. Truist Financial set a $190.00 target price on shares of TJX Companies and gave the stock a “buy” rating in a report on Thursday, May 21st. Telsey Advisory Group increased their target price on shares of TJX Companies from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Citigroup reiterated a “buy” rating and set a $182.00 target price (up from $168.00) on shares of TJX Companies in a report on Thursday, May 21st. Robert W. Baird increased their target price on shares of TJX Companies from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Finally, Evercore reiterated an “outperform” rating and set a $175.00 target price on shares of TJX Companies in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $174.58.

TJX Companies Stock Performance

TJX stock opened at $153.53 on Wednesday. The firm has a market cap of $169.77 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 3.32 and a beta of 0.62. The firm has a 50-day simple moving average of $156.81 and a two-hundred day simple moving average of $155.18. The TJX Companies, Inc. has a one year low of $119.84 and a one year high of $165.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.54 and a current ratio of 1.14.

TJX Companies (NYSE:TJX) last released its quarterly earnings results on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $14.32 billion during the quarter, compared to analyst estimates of $14.02 billion. TJX Companies had a net margin of 9.40% and a return on equity of 57.92%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. TJX Companies has set its FY 2027 guidance at 5.080-5.150 EPS and its Q2 2027 guidance at 1.150-1.170 EPS. On average, equities analysts forecast that The TJX Companies, Inc. will post 5.15 EPS for the current fiscal year.

TJX Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, May 14th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.43. This represents a $1.92 annualized dividend and a dividend yield of 1.3%. TJX Companies’s payout ratio is currently 37.28%.

TJX Companies 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.