SouthState Corp Decreases Position in The TJX Companies, Inc. (NYSE:TJX)

SouthState Corp lessened its position in shares of The TJX Companies, Inc. (NYSE:TJX) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 182,700 shares of the apparel and home fashions retailer’s stock after selling 821 shares during the quarter. TJX Companies comprises approximately 1.5% of SouthState Corp’s portfolio, making the stock its 18th largest position. SouthState Corp’s holdings in TJX Companies were worth $17,139,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its stake in shares of TJX Companies by 13.1% in the third quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock worth $4,622,514,000 after buying an additional 6,036,764 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of TJX Companies by 350.9% during the 3rd quarter. Schroder Investment Management Group now owns 2,078,244 shares of the apparel and home fashions retailer’s stock worth $184,714,000 after acquiring an additional 1,617,367 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of TJX Companies by 225.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,137,256 shares of the apparel and home fashions retailer’s stock valued at $189,959,000 after acquiring an additional 1,480,837 shares during the last quarter. TD Asset Management Inc boosted its position in shares of TJX Companies by 93.2% during the third quarter. TD Asset Management Inc now owns 2,949,415 shares of the apparel and home fashions retailer’s stock valued at $262,144,000 after purchasing an additional 1,423,004 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of TJX Companies in the third quarter worth about $115,982,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TJX has been the topic of several analyst reports. The Goldman Sachs Group upgraded TJX Companies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Redburn Atlantic downgraded shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Monday, February 5th. UBS Group raised TJX Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $132.00 in a report on Thursday. BMO Capital Markets upped their target price on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $105.00 price objective on shares of TJX Companies in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.29.

Insiders Place Their Bets

In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the sale, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the transaction, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the sale, the chief executive officer now owns 515,801 shares of the company’s stock, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

TJX Companies Stock Up 1.2 %

TJX traded up $1.09 during trading on Thursday, hitting $94.91. The company had a trading volume of 6,307,261 shares, compared to its average volume of 5,073,180. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.64. The TJX Companies, Inc. has a 1-year low of $75.65 and a 1-year high of $102.84. The business has a 50-day moving average of $97.11 and a 200-day moving average of $94.02. The company has a market cap of $107.53 billion, a PE ratio of 24.48, a P/E/G ratio of 2.42 and a beta of 0.87.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The company had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.20 billion. During the same period in the prior year, the business earned $0.89 earnings per share. TJX Companies’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts forecast that The TJX Companies, Inc. will post 4.07 earnings per share for the current year.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is 34.46%.

TJX Companies announced that its board has initiated a share buyback plan on Wednesday, February 28th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the apparel and home fashions retailer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

TJX Companies Profile

The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, and gourmet food departments; jewelry and accessories; and other merchandise.