Empower Advisory Group Reduces Stake in TJX Companies by 2.5%

Empower Advisory Group LLC has reduced its stake in The TJX Companies, Inc. by 2.5%, according to its latest filing with the Securities and Exchange Commission (SEC). The firm now holds 146,127 shares of the apparel and home fashions retailer, following the sale of 3,728 shares during the second quarter. As of the most recent filing, Empower Advisory Group’s holdings in TJX Companies are valued at approximately $18,045,000.

Several institutional investors have also adjusted their positions in TJX Companies recently. Notably, Brighton Jones LLC increased its holdings by an impressive 113.7% in the fourth quarter, now owning 15,039 shares valued at $1,817,000 after acquiring an additional 8,002 shares. Other firms, including Revolve Wealth Partners LLC and Bison Wealth LLC, also expanded their investments during the same period, indicating a growing interest in the company.

Market Analysts Adjust Price Targets

Research reports from several analysts have recently emerged, highlighting varying outlooks on TJX Companies. Wells Fargo & Company has set a price target of $140.00, rating the stock as “equal weight.” Conversely, JPMorgan Chase & Co. raised its price objective from $148.00 to $149.00, maintaining an “overweight” rating. Telsey Advisory Group reiterated an “outperform” rating with a target price of $155.00, while Barclays increased their target from $147.00 to $155.00. According to MarketBeat, the consensus rating for TJX Companies is currently “Buy,” with an average price target of $151.75.

Financial Performance and Future Guidance

TJX Companies opened at $146.05 on the New York Stock Exchange on the latest trading day. The company’s market capitalization stands at $162.55 billion, with a price-to-earnings (PE) ratio of 33.27. The company’s financial health is supported by a quick ratio of 0.52, a current ratio of 1.17, and a manageable debt-to-equity ratio of 0.32. Over the past twelve months, the stock has fluctuated between a low of $112.10 and a high of $148.11.

In its most recent quarterly earnings report, released on August 20, 2023, TJX Companies reported earnings per share of $1.10, surpassing the consensus estimate of $1.01 by $0.09. The company achieved revenue of $14.40 billion, exceeding analyst expectations of $14.12 billion, and saw a year-over-year revenue increase of 6.9%. For fiscal year 2026, the company has provided guidance of $4.520-4.570 EPS.

Additionally, TJX Companies announced a quarterly dividend of $0.425 per share, which will be paid on December 4, 2023. Shareholders of record as of November 13, 2023 will receive this dividend, representing an annualized yield of 1.2%.

The TJX Companies, Inc., headquartered in the United States, operates as an off-price apparel and home fashions retailer across various international markets, including Canada, Europe, and Australia. Its diverse portfolio encompasses a range of products from family apparel to home décor items, catering to a wide consumer base.