Stocks

First National Bank of Omaha Reduces Stake in The TJX Companies, Inc.

Published December 9, 2024

First National Bank of Omaha has adjusted its investment in The TJX Companies, Inc. (NYSE:TJX) by reducing its holdings by 12.3% during the third quarter. This information was disclosed in the latest 13F filing with the Securities and Exchange Commission. After this adjustment, the bank now holds 109,119 shares of the well-known apparel and home fashions retailer's stock, which represents a decrease of 15,305 shares over the reporting period. TJX Companies constitutes about 0.8% of First National Bank of Omaha's overall portfolio, making it the bank's 25th largest investment. As of the end of the most recent reporting period, the value of First National Bank of Omaha's shares in TJX Companies was approximately $12,826,000.

Changes in Holdings by Other Investors

Alongside First National Bank of Omaha, several other large investors have recently altered their positions in the company. Hartford Funds Management Co LLC increased its holdings in TJX Companies by 0.5% in the third quarter, now owning 17,926 shares worth $2,107,000 after acquiring an additional 86 shares. Similarly, Stablepoint Partners LLC raised its stake by 0.3%, bringing its total to 26,922 shares valued at $3,164,000 after purchasing an extra 89 shares during the same period. Dearborn Partners LLC also lifted its position in TJX Companies by 4.0% in the previous quarter, now holding 2,359 shares worth $260,000, following the acquisition of 90 additional shares. Concorde Asset Management LLC increased its stake by 2.8%, owning 3,330 shares worth $367,000, aided by a purchase of 90 shares. Finally, Signature Estate & Investment Advisors LLC grew its holdings in TJX Companies by 3.4%, totaling 2,706 shares valued at $318,000 after their own purchase of 90 shares. Overall, institutional investors and hedge funds collectively own 91.09% of TJX Companies stock.

Analyst Ratings and Price Targets

The performance of TJX Companies has attracted attention from various research analysts. StockNews.com has upgraded the company from a "hold" to a "buy" rating as of Saturday, November 30. In a report dated Thursday, August 22, Citigroup adjusted its rating from a "buy" to a "neutral" stance while raising its price target from $110.00 to $128.00. Loop Capital also increased its target price from $125.00 to $140.00, accompanying the decision with a "buy" rating. Wilsons Fargo & Company also revised its price outlook from $100.00 to $115.00, assigning an "equal weight" rating to the stock. Bank of America raised its price target from $115.00 to $135.00, maintaining a "buy" rating as well. Currently, the consensus among analysts suggests that TJX Companies is rated as a "Moderate Buy" with an average price target of $130.89.

Insider Transactions at TJX Companies

On a related note, CEO Ernie Herrman recently sold 15,000 shares of TJX Companies stock on Tuesday, September 10. This transaction was executed at an average price of $117.54, totaling a value of $1,763,100. Following this sale, the CEO retains ownership of 536,148 shares in the company, valued at approximately $63,018,835.92, reflecting a decrease of 2.72% in his stake. This transaction was publicly disclosed through a legal filing with the SEC.

TJX Companies Market Performance

The stock of TJX Companies opened at $126.09. Over the past year, the stock has reached a low of $88.43 and a high of $128.00. The company's fifty-day moving average price stands at $118.09, while the two-hundred-day moving average price is $114.30. With a market capitalization of $141.75 billion, the stock has a price-to-earnings ratio of 29.67 and a PEG ratio of 3.10, alongside a beta of 0.90 indicating moderate volatility compared to the market.

Recent Earnings Results

On November 20, TJX Companies reported its quarterly earnings, showcasing an earnings per share (EPS) of $1.14, successfully beating the consensus estimate of $1.09 by $0.05. The return on equity for the company stood at an impressive 61.82%, with a net margin of 8.63%. The company reported revenues of $14.06 billion for the quarter, exceeding expectations of $13.95 billion. Compared to the same quarter of the previous year, the revenue increased by 6.0%. Analysts predict that TJX Companies will achieve an EPS of 4.18 for the current fiscal year.

Latest Dividend Declaration

In relation to shareholder returns, TJX Companies recently declared a quarterly dividend, which was distributed on December 5. Shareholders recorded as of November 14 received a dividend of $0.375. This translates to an annualized dividend of $1.50, yielding 1.19%. The ex-dividend date for this distribution was set for November 14, and the company's dividend payout ratio now stands at 35.29%.

Overview of TJX Companies

The TJX Companies, Inc., including its subsidiaries, is recognized as an off-price retailer of apparel and home fashions operating across the United States, Canada, Europe, and Australia. It comprises four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The merchandise includes family apparel, home essentials, footwear, furniture, rugs, lighting, giftware, household practicalities, and even gourmet food supplies.

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