Wealth Dimensions Group Ltd. Makes New Investment in The TJX Companies, Inc. (NYSE:TJX)

Posted by Steve Fairfield on May 26th, 2023

TJX Companies logo Wealth Dimensions Group Ltd. purchased a new position in shares of The TJX Companies, Inc. (NYSE:TJX – Get Rating) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,999 shares of the apparel and home fashions retailer’s stock, valued at approximately $239,000.

Other large investors have also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. acquired a new stake in TJX Companies during the 4th quarter worth about $30,000. New Hampshire Trust acquired a new stake in TJX Companies during the 4th quarter worth about $31,000. Align Wealth Management LLC acquired a new stake in TJX Companies during the 4th quarter worth about $33,000. Boyd Watterson Asset Management LLC OH acquired a new stake in shares of TJX Companies in the 4th quarter valued at about $33,000. Finally, Private Ocean LLC grew its stake in shares of TJX Companies by 161.1% in the 4th quarter. Private Ocean LLC now owns 410 shares of the apparel and home fashions retailer’s stock valued at $33,000 after buying an additional 253 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on TJX shares. Telsey Advisory Group restated an “outperform” rating and issued a $95.00 target price on shares of TJX Companies in a research note on Thursday, February 23rd. Credit Suisse Group raised their target price on TJX Companies from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft raised their target price on TJX Companies from $85.00 to $86.00 in a research note on Thursday, May 18th. Robert W. Baird raised their price target on shares of TJX Companies from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Finally, Barclays raised their price target on shares of TJX Companies from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.40.

Insider Activity at TJX Companies

In other TJX Companies news, EVP Scott Goldenberg sold 26,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $78.91, for a total transaction of $2,073,044.61. Following the completion of the transaction, the executive vice president now owns 72,580 shares of the company’s stock, valued at $5,727,287.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

TJX Companies Trading Up 1.2 %

Shares of NYSE:TJX traded up $0.90 during midday trading on Friday, hitting $76.84. 2,006,506 shares of the stock traded hands, compared to its average volume of 5,058,162. The stock has a market capitalization of $88.48 billion, a PE ratio of 23.37, a P/E/G ratio of 2.06 and a beta of 0.91. The business’s 50 day moving average is $77.62 and its two-hundred day moving average is $78.40. The company has a quick ratio of 0.58, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The TJX Companies, Inc. has a one year low of $54.55 and a one year high of $83.13.

TJX Companies (NYSE:TJX – Get Rating) last issued its quarterly earnings data on Wednesday, May 17th. The apparel and home fashions retailer reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $11.82 billion. TJX Companies had a net margin of 7.56% and a return on equity of 62.78%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, research analysts forecast that The TJX Companies, Inc. will post 3.55 earnings per share for the current year.

TJX Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be given a dividend of $0.3325 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.33 annualized dividend and a dividend yield of 1.73%. This is a boost from TJX Companies’s previous quarterly dividend of $0.30. TJX Companies’s payout ratio is currently 40.92%.

About TJX Companies

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The TJX Cos., Inc engages in the retail of apparel and home fashion products. It operates through the following business segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The Marmaxx segment sells family apparel including apparel, home fashions, and other merchandise. The HomeGoods segment offers an assortment of home fashions, including furniture, rugs, lighting, soft home, decorative accessories, tabletop and cookware as well as expanded pet, kids, and gourmet food departments.