BTC Capital Management Inc. Reduces Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

BTC Capital Management Inc. reduced its position in The TJX Companies, Inc. (NYSE:TJX) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,021 shares of the apparel and home fashions retailer’s stock after selling 2,657 shares during the quarter. BTC Capital Management Inc.’s holdings in TJX Companies were worth $4,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TJX. ZRC Wealth Management LLC purchased a new stake in TJX Companies during the second quarter valued at about $25,000. Tucker Asset Management LLC purchased a new stake in shares of TJX Companies during the 1st quarter valued at approximately $25,000. Householder Group Estate & Retirement Specialist LLC bought a new position in TJX Companies in the 1st quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new position in TJX Companies in the 4th quarter valued at approximately $27,000. Finally, Lakewood Asset Management LLC bought a new stake in TJX Companies during the 4th quarter valued at $28,000. 89.28% of the stock is currently owned by institutional investors.

Insider Transactions at TJX Companies

In other news, EVP Kenneth Canestrari sold 4,197 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $90.00, for a total value of $377,730.00. Following the completion of the sale, the executive vice president now directly owns 115,223 shares of the company’s stock, valued at approximately $10,370,070. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Kenneth Canestrari sold 4,197 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $90.00, for a total value of $377,730.00. Following the completion of the transaction, the executive vice president now owns 115,223 shares of the company’s stock, valued at approximately $10,370,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Carol Meyrowitz sold 64,817 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $91.13, for a total transaction of $5,906,773.21. Following the completion of the sale, the chairman now directly owns 135,050 shares in the company, valued at $12,307,106.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,014 shares of company stock worth $10,291,303. 0.13% of the stock is currently owned by insiders.

TJX Companies Trading Up 0.2 %

Shares of NYSE:TJX traded up $0.20 on Monday, reaching $92.64. 272,384 shares of the company traded hands, compared to its average volume of 4,958,131. The company has a current ratio of 1.20, a quick ratio of 0.56 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $88.20 and its 200 day simple moving average is $81.86. The stock has a market capitalization of $105.99 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.89. The TJX Companies, Inc. has a 52 week low of $59.78 and a 52 week high of $93.78.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, August 16th. The apparel and home fashions retailer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $12.76 billion for the quarter, compared to analyst estimates of $12.45 billion. TJX Companies had a net margin of 7.77% and a return on equity of 62.61%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, equities analysts anticipate that The TJX Companies, Inc. will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TJX shares. Morgan Stanley raised their price target on TJX Companies from $93.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. Piper Sandler assumed coverage on TJX Companies in a report on Thursday, June 29th. They set an “overweight” rating and a $110.00 target price for the company. StockNews.com started coverage on TJX Companies in a research report on Thursday, August 17th. They set a “buy” rating on the stock. BMO Capital Markets raised their price objective on shares of TJX Companies from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Finally, Bank of America upped their target price on shares of TJX Companies from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.42.

About TJX Companies

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, kids, and gourmet food departments; jewelry and accessories; and other merchandise.