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

During the third quarter, Point72 Hong Kong Ltd made a significant investment in The TJX Companies, Inc. (NYSE:TJX) by acquiring a new stake. According to their recent Form 13F filing with the Securities and Exchange Commission, the firm purchased 65,867 shares of the popular apparel and home fashions retailer, with a total value of approximately $7,742,000.

Several other hedge funds have also altered their positions in TJX Companies recently. For instance, Ameriprise Financial Inc. increased its stake by 33.4% during the second quarter, bringing its total to 12,241,176 shares valued at approximately $1.34 billion after adding 3,063,318 additional shares. Similarly, UBS Asset Management Americas LLC raised its holdings by 7.5%, now owning 9,182,564 shares worth about $1.08 billion after acquiring 643,833 shares in the last quarter.

Dimensional Fund Advisors LP also boosted its position by 11.8% in the second quarter and now owns 6,265,171 shares valued at $689.81 million following an additional purchase of 662,681 shares. 1832 Asset Management L.P. increased its holdings by 14.2%, taking their total to 6,116,142 shares valued at $673.39 million after acquiring 759,427 shares. Moreover, Clearbridge Investments LLC raised its stake by 5.8%, resulting in ownership of 6,012,310 shares now valued at $661.96 million after purchasing 330,277 shares. Overall, institutional investors and hedge funds own 91.09% of TJX's stock.

Recent Analyst Ratings Changes

TJX Companies has received several updates from analysts. On August 22nd, Robert W. Baird raised their price target from $113 to $128 with an "outperform" rating. Loop Capital also increased their price objective from $125 to $140, maintaining a "buy" rating. Telsey Advisory Group reaffirmed an "outperform" rating with a target price of $134. However, Citigroup downgraded TJX from "buy" to "neutral", while also raising their target price from $110 to $128. UBS Group elevated their price target from $134 to $148 and maintained a "buy" rating. Overall, out of the analysts covering the stock, three have advised holding it, while fifteen have given it a buy rating. MarketBeat indicates a consensus rating of "Moderate Buy" for the stock, with an average price target of $129.47.

Recent Insider Transactions

In other news regarding TJX, CEO Ernie Herrman sold 15,000 shares on September 10th, receiving an average price of $117.54, totaling $1,763,100. Following this transaction, Herrman holds 536,148 shares in the company, valued at around $63 million. This sale reflected a 2.72% reduction in his position and was disclosed in a filing with the SEC.

TJX Companies Stock Performance

As of Friday, shares of TJX opened at $125.69. The 52-week range for the stock has been between $87.44 and $128.00. The company shows a quick ratio of 0.50, a current ratio of 1.19, and a debt-to-equity ratio of 0.35. TJX has a market capitalization of $141.76 billion and boasts a PE ratio of 29.57. The company’s earnings results for the last quarter revealed an EPS of $1.14, surpassing analysts' estimates of $1.09, with revenue at $14.06 billion, beating predictions of $13.95 billion.

Analysts expect The TJX Companies, Inc. to report earnings of $4.18 per share for the current fiscal year.

Dividend Announcement

TJX Companies has recently declared a quarterly dividend, set to be paid on December 5th, to investors of record on November 14th. The dividend amounts to $0.375 per share, marking an annual dividend qualification of $1.50 and a yield of 1.19%. The company's current dividend payout ratio stands at 35.29%.

Company Profile

The TJX Companies, Inc., along with its subsidiaries, operates as an off-price retailer of apparel and home fashions across the United States, Canada, Europe, and Australia. Its business segments include Marmaxx, HomeGoods, TJX Canada, and TJX International, delivering a wide array of products such as family apparel, footwear, home furnishings, and various merchandise categories.

Investment, Stocks, TJX