Concord Wealth Partners Takes Position in The TJX Companies, Inc. (NYSE:TJX)

Posted by Defense World Staff on Apr 13th, 2023

TJX Companies logo Concord Wealth Partners purchased a new stake in The TJX Companies, Inc. (NYSE:TJX – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 754 shares of the apparel and home fashions retailer’s stock, valued at approximately $60,000.

A number of other institutional investors have also recently added to or reduced their stakes in TJX. Fairfield Bush & CO. acquired a new stake in TJX Companies in the 1st quarter valued at $68,000. United Bank grew its stake in TJX Companies by 9.2% in the 1st quarter. United Bank now owns 15,197 shares of the apparel and home fashions retailer’s stock valued at $921,000 after acquiring an additional 1,284 shares during the period. AMI Investment Management Inc. acquired a new stake in TJX Companies in the 1st quarter valued at $2,780,000. Cetera Investment Advisers grew its stake in TJX Companies by 69.0% in the 1st quarter. Cetera Investment Advisers now owns 38,304 shares of the apparel and home fashions retailer’s stock valued at $2,320,000 after acquiring an additional 15,644 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in TJX Companies by 10.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,396 shares of the apparel and home fashions retailer’s stock valued at $266,000 after acquiring an additional 398 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.

TJX Companies Stock Down 2.1 %

Shares of TJX opened at $76.70 on Thursday. The firm has a market cap of $88.40 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.12 and a beta of 0.90. The TJX Companies, Inc. has a 12-month low of $53.69 and a 12-month high of $83.13. The company’s 50-day moving average price is $77.67 and its 200 day moving average price is $75.96. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.45.

TJX Companies (NYSE:TJX – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The apparel and home fashions retailer reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.07 billion. TJX Companies had a net margin of 7.00% and a return on equity of 63.68%. TJX Companies’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts forecast that The TJX Companies, Inc. will post 3.52 earnings per share for the current year.

TJX Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 11th will be paid a dividend of $0.3325 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a yield of 1.73%. TJX Companies’s dividend payout ratio is 39.60%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of TJX Companies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 6th. Credit Suisse Group lifted their target price on shares of TJX Companies from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $95.00 target price on shares of TJX Companies in a research note on Thursday, February 23rd. Morgan Stanley lifted their target price on shares of TJX Companies from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Finally, StockNews.com assumed coverage on shares of TJX Companies in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.07.

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.