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

Point72 Hong Kong Ltd has made a notable investment in The TJX Companies, Inc. (NYSE:TJX) during the third quarter of the year. According to their latest Form 13F filing with the Securities and Exchange Commission, Point72 acquired a new stake comprising 65,867 shares of TJX. This investment is valued at approximately $7,742,000.

Other hedge funds have also been active in adjusting their stakes in TJX Companies. For instance, Ameriprise Financial Inc. increased its position by 33.4% during the second quarter, now owning a total of 12,241,176 shares, which are valued at $1,347,934,000 after adding 3,063,318 shares in the last quarter. Similarly, UBS Asset Management, a distinct business unit of UBS, raised its holdings by 7.5% during the third quarter, totaling 9,182,564 shares with a value of $1,079,319,000, following an addition of 643,833 shares. Dimensional Fund Advisors LP also raised its stake by 11.8% to own 6,265,171 shares worth $689,812,000 after acquiring an additional 662,681 shares. Furthermore, 1832 Asset Management L.P. increased their holdings by 14.2%, now possessing 6,116,142 shares valued at $673,387,000. Clearbridge Investments LLC added 5.8% to its position, owning 6,012,310 shares worth $661,955,000.

Changes in Analyst Ratings

The stock of TJX has received attention from several analysts recently. Robert W. Baird raised their price target from $113.00 to $128.00, rating the stock as "outperform" on August 22nd. Loop Capital also increased its target from $125.00 to $140.00 and assigned a "buy" rating. The Telsey Advisory Group reaffirmed an "outperform" rating with a target price of $134.00 as of November 20th. Conversely, Citigroup downgraded its rating from "buy" to "neutral," increasing their target price from $110.00 to $128.00. Lastly, UBS Group lifted its price target for TJX from $134.00 to $148.00. Currently, three analysts have a hold rating while fifteen analysts have issued a buy rating, bringing the consensus rating to a "Moderate Buy" and a consensus price target of $129.47 according to MarketBeat.

Insider Trading Actions

In related news, CEO Ernie Herrman recently sold 15,000 shares on September 10th for an average price of $117.54, amounting to about $1,763,100. Despite this sale, the CEO continues to hold 536,148 shares valued at approximately $63,018,835.92, which constitutes a decrease of 2.72% in his overall position. This transaction was documented in a filing with the Securities and Exchange Commission.

Current Stock Performance

As of the latest trading session, shares of TJX Companies opened at $125.69. The stock has shown resilience, with a 52-week low of $87.44 and a high of $128.00. The company maintains a quick ratio of 0.50, a current ratio of 1.19, and a debt-to-equity ratio of 0.35. The market capitalization stands at $141.76 billion with a PE ratio of 29.57. The company reported earnings of $1.14 per share, surpassing analysts' expectations of $1.09. Revenue for the quarter reached $14.06 billion, slightly ahead of predictions of $13.95 billion. The return on equity was reported at 61.82%, with a net margin of 8.63%. Analysts are forecasting TJX Companies to report earnings per share of 4.18 for the current fiscal year.

Dividend Announcement

TJX Companies has also declared a quarterly dividend of $0.375 per share, to be paid on December 5th to shareholders of record as of November 14th. This translates to an annualized dividend of $1.50, yielding 1.19% with a dividend payout ratio of 35.29%.

Overview of TJX Companies

The TJX Companies, Inc. operates as an off-price retailer of apparel and home fashions throughout the United States, Canada, Europe, and Australia. Its segments include Marmaxx, HomeGoods, TJX Canada, and TJX International. The company offers a variety of products, including family apparel, home fashions, jewelry, and various other merchandise.

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