Syverson Strege Invests $396,000 in The TJX Companies, Inc.

Syverson Strege & Co has acquired a new stake in The TJX Companies, Inc. (NYSE:TJX), investing approximately $396,000 during the second quarter of 2024. This investment involved the purchase of 3,205 shares of the popular apparel and home fashions retailer, according to a recent disclosure filed with the Securities and Exchange Commission.

Other institutional investors have also adjusted their positions in TJX. For instance, Vanguard Group Inc. increased its holdings by 1.1% during the first quarter, acquiring an additional 1,099,129 shares, bringing its total ownership to 100,413,764 shares valued at around $12.23 billion. Similarly, Ameriprise Financial Inc. raised its stake by 0.3%, now owning 13,068,312 shares worth approximately $1.59 billion.

Amundi has also made notable adjustments, increasing its stake by 10.2% to hold 11,888,455 shares valued at $1.49 billion. Nuveen LLC entered a new position in TJX worth $1.33 billion, while Invesco Ltd. boosted its holdings by 2.8%, now owning 9,000,600 shares valued at $1.10 billion. Institutional investors and hedge funds collectively own approximately 91.09% of the company’s stock.

Analysts Provide Positive Outlook for TJX

Wall Street analysts have recently expressed optimism regarding TJX’s performance. In a research report released on September 30, Wells Fargo & Company set a price target of $140.00 for the stock, assigning it an “equal weight” rating. Additionally, Weiss Ratings reaffirmed a “buy (B+)” rating, while Daiwa America upgraded its rating to “strong-buy” in early July. Barclays raised its target price from $147.00 to $155.00 and classified the stock as “overweight.”

The consensus rating among analysts indicates strong support for the company, with one analyst recommending a Strong Buy rating, twenty-three advising a Buy, and one suggesting a Hold. According to data from MarketBeat, TJX currently holds a consensus rating of “Buy” with a target price of $149.00.

TJX Stock Performance and Quarterly Results

As of last Friday, TJX stock opened at $140.13, reflecting a 1.5% decline. The company’s 50-day simple moving average stands at $140.95, while the 200-day average is $132.18. With a market capitalization of $155.96 billion and a PE ratio of 31.92, the company’s financial metrics indicate solid performance despite recent fluctuations.

TJX recently reported its quarterly earnings on August 20, 2024, revealing an earnings per share (EPS) of $1.10, surpassing the consensus estimate of $1.01 by $0.09. The company generated $14.40 billion in revenue, exceeding analyst expectations of $14.12 billion. The firm’s net margin stood at 8.59%, with a return on equity of 58.63%. Year-over-year, the company’s revenue increased by 6.9%.

For the fiscal year 2026, TJX has guided for an EPS range of $4.520 to $4.570, with third quarter guidance set at $1.170 to $1.190. Analysts anticipate that TJX will report an EPS of $4.18 for the current fiscal year.

In addition to its stock performance, TJX has declared a quarterly dividend of $0.425 per share, scheduled for payment on December 4, 2024, to shareholders of record as of November 13, 2024. This dividend represents an annualized yield of 1.2% and a payout ratio of 38.72%.

The TJX Companies, Inc. operates as an off-price retailer of apparel and home fashions across the United States, Canada, Europe, and Australia, with segments including Marmaxx, HomeGoods, TJX Canada, and TJX International. The company offers a wide range of products, from family apparel to home furnishings and gourmet foods, appealing to a diverse customer base.