The Vanguard Group, Inc. recently announced the acquisition of new stake in TJX Companies, Inc. (NYSE:TJX). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.39% to 90.28 million shares with purchase of 0.35 million shares. This fresh investment now brings its stake to 7.89% valued currently at $7.95 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.48 million to 50.61 million shares. And Fidelity Management & Research Co has lifted its position by 12.18% or 4.89 million shares – to 45.07 million shares.
With over 4.24 million TJX Companies, Inc. (TJX) shares trading Tuesday and a closing price of $91.17 on the day, the dollar volume was approximately $386.29 million. The shares have shown a positive half year performance of 12.51% and its price on 12/12/23 gained nearly 0.44%. Currently, there are 1.16B common shares owned by the public and among those 1.14B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for TJX have a consensus price objective of $101.78. The analysts have set the share’s price value over the next 12 months at a high of $110.00 and a low of $91.00. The average price target is 10.42% above its recent price level and a downside to the estimated low will see the stock lose -0.19% over that period. But an upside of 17.12% will see the stock hit the forecast high price target while median target price for the stock is $100.50.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 386,074 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 470,912 shares.
The top 3 mutual fund holders in TJX Companies, Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Dividend Growth Fund. Vanguard Total Stock Market ETF owns 35.96 million shares of the company’s stock, all valued at over $3.17 billion. The company bought an additional 0.17 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 0.13 million shares to see its total holdings expand to 27.75 million shares valued at over $2.44 billion and representing 2.43% of the shares outstanding. Vanguard Dividend Growth Fund sold -3.28 million shares to bring its total holdings to over 21.91 million shares at a value of $1.93 billion. Vanguard Dividend Growth Fund now owns shares totaling to 1.92% of the shares outstanding.
Shares of TJX Companies, Inc. (NYSE: TJX) opened at $90.68, down -$0.09 from a prior closing price of $90.77. However, the script later moved the day high at 91.40, up 0.44%. The company’s stock has a 5-day price change of 3.60% and -1.88% over the past three months. TJX shares are trading 14.54% year to date (YTD), with the 12-month market performance up to 16.79% higher. It has a 12-month low price of $72.92 and touched a high of $93.78 over the same period. TJX has an average intraday trading volume of 5.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.08%, 2.15%, and 8.55% respectively.
Institutional ownership of TJX Companies, Inc. (NYSE: TJX) shares accounts for 92.19% of the company’s 1.16B shares outstanding. Mutual fund holders own 43.85%, while other institutional holders and individual stakeholders account for 48.48% and 0.91% respectively.
It has a market capitalization of $103.90B and a beta (3y monthly) value of 0.88. The stock’s trailing 12-month PE ratio is 25.82, while the earnings-per-share (ttm) stands at $3.53. The company has a PEG of 1.98 and a Quick Ratio of 0.47 with the debt-to-equity ratio at 1.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.11% over the week and 1.44% over the month.
Analysts forecast that TJX Companies, Inc. (TJX) will achieve an EPS of $1.11 for the current quarter, $0.86 for the next quarter and $4.11 for 2025. The lowest estimate earnings-per-share for the quarter is $1.07 while analysts give the company a high EPS estimate of $1.2. Comparatively, EPS for the current quarter was $0.89 a year ago. Earnings per share for the fiscal year are expected to increase by 20.67%, and 9.56% over the next financial year. EPS should grow at an annualized rate of 13.06% over the next five years, compared to 8.01% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate TJX Companies, Inc. (TJX) as a “Strong Buy” at a consensus score of 1.62. Specifically, 17 Wall Street analysts polled rate the stock as a buy, while 5 of the 26 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TJX, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Outperform rating for the stock in a research note on November 16, 2023, with the firm’s price target at $100-$105.
