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

Point72 Hong Kong Ltd has acquired a new stake in The TJX Companies, Inc. (NYSE:TJX) during the third quarter, as indicated in its latest Form 13F filing with the Securities and Exchange Commission. The firm purchased 65,867 shares of the leading apparel and home fashion retailer, amounting to a total investment of approximately $7,742,000.

In addition to Point72's investment, several other hedge funds have made adjustments to their holdings in TJX. For instance, Ameriprise Financial Inc. increased its holdings by 33.4% in the second quarter, now owning 12,241,176 shares worth around $1.35 billion after buying an additional 3,063,318 shares. Likewise, UBS Asset Management Americas LLC raised its position in TJX by 7.5% in the third quarter, now holding 9,182,564 shares valued at about $1.08 billion after acquiring an additional 643,833 shares.

Dimensional Fund Advisors LP also grew its stake in TJX by 11.8% during the second quarter, owning 6,265,171 shares worth approximately $690 million after an additional purchase of 662,681 shares. 1832 Asset Management L.P. boosted its holdings in TJX by 14.2% and now possesses 6,116,142 shares valued at about $673 million. Clearbridge Investments LLC also increased its position by 5.8%, owning 6,012,310 shares valued around $662 million. Overall, institutional investors and hedge funds hold about 91.09% of the company's stock.

Recent Analyst Recommendations

Several analysts have recently issued reports on TJX Companies. Robert W. Baird raised their price target from $113.00 to $128.00 and rated the stock as "outperform" on August 22nd. Loop Capital increased their target from $125.00 to $140.00, maintaining a "buy" rating. Telsey Advisory Group affirmed an "outperform" rating with a $134.00 target price on November 20th. Citigroup adjusted its rating, moving it from "buy" to "neutral" while increasing the target price from $110.00 to $128.00. Moreover, UBS Group increased their target from $134.00 to $148.00 with a "buy" rating. Currently, three analysts have rated the stock as a hold, while fifteen have issued buy ratings, leading to a consensus rating of "Moderate Buy" with an average price target of $129.47.

Insider Transactions

In other developments, CEO Ernie Herrman recently sold 15,000 shares of TJX stock in a transaction on September 10th, at an average price of $117.54 per share, totaling $1,763,100. Following this sale, Herrman holds 536,148 shares valued at approximately $63 million, representing a 2.72% decrease in his holdings. This transaction was disclosed in a filing with the SEC, and corporate insiders own about 0.13% of the stock.

TJX Companies Stock Overview

TJX Companies’ shares opened at $125.69 recently. The company's stock reached a 52-week low of $87.44 and a high of $128.00. TJX has a market capitalization of $141.76 billion, a quick ratio of 0.50, and a current ratio of 1.19, with a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $117.29 and a 200-day moving average price of $113.36.

On November 20th, TJX released its quarterly earnings, reporting $1.14 EPS, which exceeded analysts’ expectations of $1.09 by $0.05. The company generated revenue of $14.06 billion, surpassing estimates of $13.95 billion. The return on equity stands at 61.82%, with a net margin of 8.63%. Year-over-year, TJX's quarterly revenue increased by 6.0%, compared to the same period last year when the EPS was recorded at $1.03. Analysts anticipate that The TJX Companies, Inc. will achieve earnings of $4.18 per share for the current fiscal year.

Dividend Declaration

The company has announced a quarterly dividend of $0.375 per share, which will be paid on December 5th to investors who are on record as of November 14th. This dividend reflects an annualized yield of 1.19%, with a dividend payout ratio currently at 35.29%.

About TJX Companies

The TJX Companies, Inc. operates as an off-price retailer of apparel and home fashions across the U.S., Canada, Europe, and Australia. The company operates through several segments, including Marmaxx, HomeGoods, TJX Canada, and TJX International, selling a wide range of products such as family apparel, home furnishings, jewelry, and assorted merchandise.

investment, stocks, TJX, Point72, finance