Point72 Hong Kong Ltd Invests $7.74 Million in The TJX Companies, Inc.

Point72 Hong Kong Ltd has made a notable investment in The TJX Companies, Inc. (NYSE:TJX) during the third quarter. According to the latest Form 13F filing with the Securities and Exchange Commission, the firm acquired 65,867 shares of the popular apparel and home fashions retailer, representing an investment worth approximately $7,742,000.

Many other hedge funds have also adjusted their holdings in TJX Companies recently. For instance, Ameriprise Financial Inc. boosted its stake by 33.4% in the second quarter, bringing its total shares to 12,241,176, valued at around $1.35 billion after adding 3,063,318 shares. Similarly, the UBS Asset Management Americas LLC increased its shareholding by 7.5% during the third quarter and now owns 9,182,564 shares worth approximately $1.08 billion after acquiring an additional 643,833 shares in the last quarter.

Dimensional Fund Advisors LP also increased its investment in TJX by 11.8% during the second quarter, amassing 6,265,171 shares with a value of about $689.81 million. Likewise, 1832 Asset Management L.P. raised its position by 14.2%, owning 6,116,142 shares currently valued at $673.39 million. Clearbridge Investments LLC marked a 5.8% increase in its position, owning 6,012,310 shares valued at $661.96 million. Overall, institutional investors and hedge funds hold 91.09% of TJX's stock.

Recent Analyst Rapport

TJX Companies has received various updates from analysts in recent weeks. Robert W. Baird raised its price target for TJX from $113.00 to $128.00 and reiterated an "outperform" rating in a report published on August 22nd. Loop Capital also increased its target from $125.00 to $140.00, maintaining a "buy" rating. Conversely, Citigroup downgraded its rating from "buy" to "neutral," raising the target price from $110.00 to $128.00. UBS Group also revised their price target from $134.00 to $148.00 while maintaining a "buy" recommendation. In total, three analysts have assigned a hold rating, while fifteen have endorsed a buy rating, indicating a consensus of "Moderate Buy" with an average price target of $129.47.

Insider Trading Activity

Further observations include a recent transaction where TJX’s CEO, Ernie Herrman, sold 15,000 shares of the company on September 10th for an average price of $117.54, totaling about $1.76 million. Post-sale, Herrman retained ownership of 536,148 shares with a value approximating $63 million, marking a 2.72% decline in his stake. Such transactions were disclosed in filings with the SEC.

TJX Companies Stock Overview

Shares of TJX Companies opened at $125.69, with the company recording a 52-week low of $87.44 and a high of $128.00. TJX's quick ratio stands at 0.50, while the current ratio is at 1.19. It sports a debt-to-equity ratio of 0.35 and shows a market capitalization of around $141.76 billion. The stock has a PE ratio of 29.57 and a price-to-earnings growth ratio of 3.09, alongside a beta of 0.89.

Quarterly Earnings Summary

The TJX Companies reported its latest quarterly results on November 20th. For the quarter, the retailer achieved an EPS of $1.14, surpassing analysts' expectations of $1.09. The total revenue reported was $14.06 billion, slightly exceeding the forecast of $13.95 billion, alongside a return on equity at 61.82% and a net margin of 8.63%. Compared to the corresponding quarter in the prior year, TJX witnessed a revenue uptick of 6.0%.

Dividend Announcement

The company has also announced a quarterly dividend of $0.375 per share, set to be paid on December 5th to shareholders recorded as of November 14th. This aligns with an annual yield of 1.19%, and the ex-dividend date is the same as the record date. Currently, the dividend payout ratio is 35.29%.

Company Profile

The TJX Companies, Inc. operates as an off-price retailer for apparel and home fashion products, functioning through various segments, including Marmaxx, HomeGoods, TJX Canada, and TJX International. Its offerings comprise family apparel, footwear, home décor, furniture, rugs, lighting products, pet care products, gourmet foods, and accessories.

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