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), as revealed in its latest Form 13F filing with the Securities and Exchange Commission. During the third quarter, the firm acquired 65,867 shares of the retailer, which specializes in apparel and home fashions, amounting to an investment of approximately $7,742,000.

In addition to Point72's investment, other hedge funds have also adjusted their positions in TJX Companies recently. For instance, Ameriprise Financial Inc. increased its stake by 33.4% during the second quarter, owning now 12,241,176 shares valued at around $1.35 billion after adding 3,063,318 shares. Meanwhile, UBS AM, part of UBS Asset Management Americas LLC, lifted their position by 7.5%, acquiring a total of 9,182,564 shares worth about $1.08 billion.

Dimensional Fund Advisors LP also heightened its stake during the second quarter, now holding 6,265,171 shares valued at approximately $689.8 million after a gain of 662,681 shares. Similarly, 1832 Asset Management L.P. boosted its holdings by 14.2% in the same quarter, contributing to their total of 6,116,142 shares valued at $673.4 million. Lastly, Clearbridge Investments LLC increased its position by 5.8%, owning 6,012,310 shares valued at around $662 million. Currently, institutional investors and hedge funds collectively own about 91.09% of TJX Companies' stock.

Recent Analyst Ratings for TJX Companies

TJX Companies has attracted attention from various analysts with several changes in their stock ratings. Robert W. Baird raised their price target from $113 to $128 and rated it as "outperform". Loop Capital has also lifted their target from $125 to $140 with a "buy" rating. On the other hand, Telsey Advisory Group maintained their "outperform" rating with a target of $134. Citigroup adjusted its rating from "buy" to "neutral", while increasing its price target from $110 to $128. The UBS Group has similarly upped its target from $134 to $148, maintaining a "buy" rating. Market analysts have generally rated the stock as a “Moderate Buy,” with a consensus target price of $129.47.

Of the analysts tracking the stock, three have issued a hold rating, while fifteen have recommended buying it.

Insider Transactions

In recent news, TJX Companies CEO Ernie Herrman sold 15,000 shares of stock on September 10, at an average price of $117.54 for an overall total of $1,763,100. Following the sale, Herrman retains ownership of 536,148 shares, valued at around $63 million. This trade represents a 2.72% decrease in his position.

TJX Companies' Stock Performance

The stock for TJX Companies opened at $125.69 and has shown a range over the past year, with a low of $87.44 and a high of $128. The company holds a market capitalization of $141.76 billion, a P/E ratio of 29.57, and a beta of 0.89, indicating relatively lower volatility compared to the market.

In its latest quarterly earnings report released on November 20, TJX reported earnings of $1.14 per share, surpassing analysts' expectations of $1.09 by $0.05. The company generated revenue of $14.06 billion for the quarter, exceeding the expected $13.95 billion. This reflects a 6.0% increase in revenue from the same period last year.

Dividend Declaration

Recently, TJX Companies also announced a quarterly dividend of $0.375 per share, which will be distributed on December 5. Investors who are on record as of November 14 will receive this dividend, which equates to an annual yield of 1.19%. The company’s current dividend payout ratio stands at 35.29%.

About TJX Companies

The TJX Companies, Inc., along with its subsidiaries, operates as an off-price retailer of apparel and home fashions in multiple countries including the United States, Canada, Europe, and Australia. It runs through various segments like Marmaxx, HomeGoods, TJX Canada, and TJX International, offering a wide array of products ranging from family apparel to home goods and various accessories.

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