Aviance Capital Partners LLC has increased its holdings in The TJX Companies, Inc. by 31.4%, according to a recent filing with the Securities & Exchange Commission. The investment firm now owns 3,343 shares of the apparel and home fashions retailer after acquiring an additional 798 shares during the second quarter of the year. As of the end of this period, Aviance’s investment in TJX was valued at approximately $413,000.
Several other institutional investors have also adjusted their positions in TJX Companies. For instance, FCG Investment Co established a new stake worth about $2.62 million in the first quarter, while MinichMacGregor Wealth Management LLC acquired shares valued at roughly $5.05 million during the second quarter. Similarly, Parr Mcknight Wealth Management Group LLC increased its position by 12.6%, now owning 40,840 shares worth about $4.97 million. Infusive Asset Management Inc. and Crossmark Global Holdings Inc. also reported significant increases in their holdings.
According to data, institutional investors now own approximately 91.09% of TJX’s stock, reflecting strong confidence in the retailer’s performance.
Analysts Provide Positive Outlook
Recent evaluations by equities research analysts indicate a favorable outlook for TJX Companies. Erste Group Bank began coverage of the stock on September 5, assigning it a “buy” rating. Following this, BTIG Research set a price target of $165.00 while also rating it as a buy. Other firms have similarly expressed optimism, with Wells Fargo & Company establishing a price target of $140.00 and an “equal weight” rating.
The consensus among analysts remains positive, with one rating it as a Strong Buy, twenty-three issuing a Buy rating, and one assigning a Hold rating. According to MarketBeat.com, TJX currently has an average rating of “Buy” and a consensus price target of $149.00.
Recent Stock Performance and Financial Results
As of October 27, 2023, shares of TJX opened at $140.13. The company boasts a market capitalization of $155.96 billion and a price-to-earnings (P/E) ratio of 31.92. Additionally, the stock has experienced a 1.5% decline recently.
The TJX Companies reported its quarterly earnings on August 20, 2023, revealing an earnings per share (EPS) of $1.10, surpassing analysts’ expectations of $1.01. The company generated $14.40 billion in revenue for the quarter, exceeding estimates of $14.12 billion. This performance reflects a 6.9% increase in revenue year-over-year. The net margin stood at 8.59%, with a return on equity of 58.63%.
Looking ahead, TJX has set its fiscal year 2026 guidance at an EPS range of $4.520-$4.570 and a third quarter guidance of $1.170-$1.190. Analysts forecast an EPS of $4.18 for the current year.
Dividend Announcement
The TJX Companies has announced a quarterly dividend of $0.425, payable on December 4, 2023. Stockholders on record as of November 13, 2023, will receive this dividend, representing an annualized total of $1.70 and a yield of 1.2%. The company’s dividend payout ratio is currently 38.72%.
In conclusion, with significant institutional backing and a positive outlook from analysts, The TJX Companies, Inc. continues to demonstrate robust performance in the retail sector. The strategic investments and favorable financial indicators position the company well for future growth.
