Ferguson Wellman Capital Management Inc. Acquires 4,504 Shares of The TJX Companies, Inc. (NYSE:TJX)

Ferguson Wellman Capital Management Inc. boosted its holdings in shares of The TJX Companies, Inc. (NYSE:TJX) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 589,042 shares of the apparel and home fashions retailer’s stock after acquiring an additional 4,504 shares during the period. TJX Companies makes up approximately 1.2% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 25th largest holding. Ferguson Wellman Capital Management Inc. owned 0.05% of TJX Companies worth $49,945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TJX. Alpha Financial Partners LLC lifted its holdings in shares of TJX Companies by 2.5% in the first quarter. Alpha Financial Partners LLC now owns 5,337 shares of the apparel and home fashions retailer’s stock valued at $418,000 after purchasing an additional 129 shares in the last quarter. Tradition Wealth Management LLC lifted its holdings in shares of TJX Companies by 3.7% in the first quarter. Tradition Wealth Management LLC now owns 3,672 shares of the apparel and home fashions retailer’s stock valued at $288,000 after purchasing an additional 132 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of TJX Companies by 4.0% in the first quarter. Drive Wealth Management LLC now owns 3,652 shares of the apparel and home fashions retailer’s stock valued at $286,000 after purchasing an additional 140 shares in the last quarter. Journey Strategic Wealth LLC lifted its holdings in shares of TJX Companies by 4.0% in the first quarter. Journey Strategic Wealth LLC now owns 3,671 shares of the apparel and home fashions retailer’s stock valued at $288,000 after purchasing an additional 140 shares in the last quarter. Finally, PGIM Custom Harvest LLC lifted its holdings in shares of TJX Companies by 4.9% in the first quarter. PGIM Custom Harvest LLC now owns 3,041 shares of the apparel and home fashions retailer’s stock valued at $238,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 89.28% of the company’s stock.

Analysts Set New Price Targets

TJX has been the topic of a number of research reports. Piper Sandler initiated coverage on TJX Companies in a report on Thursday, June 29th. They issued an “overweight” rating and a $110.00 price target on the stock. Morgan Stanley upped their target price on TJX Companies from $93.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. Bank of America upped their target price on TJX Companies from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. UBS Group upped their target price on TJX Companies from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Finally, BMO Capital Markets upped their target price on TJX Companies from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.42.

Insider Activity

In other news, Chairman Carol Meyrowitz sold 64,817 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $91.13, for a total value of $5,906,773.21. Following the transaction, the chairman now owns 135,050 shares of the company’s stock, valued at $12,307,106.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ernie Herrman sold 45,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $89.04, for a total transaction of $4,006,800.00. Following the sale, the chief executive officer now owns 642,098 shares of the company’s stock, valued at $57,172,405.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Carol Meyrowitz sold 64,817 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $91.13, for a total value of $5,906,773.21. Following the sale, the chairman now directly owns 135,050 shares in the company, valued at approximately $12,307,106.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,014 shares of company stock valued at $10,291,303. 0.13% of the stock is owned by insiders.

TJX Companies Stock Performance

Shares of TJX Companies stock traded down $1.15 on Friday, hitting $92.44. The stock had a trading volume of 7,606,897 shares, compared to its average volume of 4,782,368. The TJX Companies, Inc. has a twelve month low of $59.78 and a twelve month high of $93.78. The business’s 50 day moving average is $88.20 and its two-hundred day moving average is $81.82. The company has a quick ratio of 0.56, a current ratio of 1.20 and a debt-to-equity ratio of 0.43. The stock has a market cap of $105.76 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.89.

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

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