Should You Consider Buying TJX Shares?

ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Value Strategy outperformed its Russell 1000 Value Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in 10 of 11 sectors in which it was invested for the quarter. The strongest contributions came from the IT, health care, industrials, and materials sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Large Cap Value Strategy, in its Q4 2021 investor letter, mentioned The TJX Companies, Inc. (NYSE:TJX) and discussed its stance on the firm. Founded in 1976, The TJX Companies, Inc. (NYSE:TJX) is a Framingham, Massachusetts-based department store company with a $71.1 billion market capitalization, and is currently spearheaded by its CEO, Ernie Herrman. The TJX Companies, Inc. (NYSE:TJX) delivered a -7.38% return since the beginning of the year, while its 12-month returns are down by -8.48%. The stock closed at $60.53 per share on April 06, 2022.

Here is what ClearBridge Investments Large Cap Value Strategy has to say about The TJX Companies, Inc. (NYSE:TJX) in its Q4 2021 investor letter:

“The pandemic created opportunities for us to be more aggressive in a variety of areas of the market. We were opportunistic throughout the year, for example, in positioning the portfolio to benefit from a flush consumer eager to return to spending and traveling. New positions included TJX, an off-brand retailer with a large presence in the U.S. and Europe that should continue to benefit from the contraction of many traditional retailers, particularly as consumer spending resumes.”

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Our calculations show that The TJX Companies, Inc. (NYSE:TJX) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. The TJX Companies, Inc. (NYSE:TJX) was in 56 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 63 funds in the previous quarter. The TJX Companies, Inc. (NYSE:TJX) delivered a -8.55% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on The TJX Companies, Inc. (NYSE:TJX) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.