The TJX Companies (TJX) Delivered Strong Revenue and Profit Growth

Madison Investments, an investment advisor, released its “Madison Investors Fund” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund (Class Y) fell by 1.03% compared to a 4.28% return for the S&P 500 index. YTD the fund returned 8.50% compared to a 15.29% return for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Madison Investors Fund highlighted stocks like The TJX Companies, Inc. (NYSE:TJX) in the second quarter 2024 investor letter. The TJX Companies, Inc. (NYSE:TJX) operates as an off-price apparel and home fashion retailer. The one-month return of The TJX Companies, Inc. (NYSE:TJX) was 2.40%, and its shares gained 32.31% of their value over the last 52 weeks. On July 18, 2024, The TJX Companies, Inc. (NYSE:TJX) stock closed at $113.03 per share with a market capitalization of $127.741 billion.

Madison Investors Fund stated the following regarding The TJX Companies, Inc. (NYSE:TJX) in its Q2 2024 investor letter:

“The TJX Companies, Inc. (NYSE:TJX), an off-price retailer, continues to do well. Its value-based retail stores are resonating with consumers given the backdrop of higher inflation, which led to strong revenue and profit growth in the most recent quarter.”

A busy retail store floor with customers trying on apparel and browsing the products.

The TJX Companies, Inc. (NYSE:TJX) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 63 hedge fund portfolios held The TJX Companies, Inc. (NYSE:TJX) at the end of the first quarter which was 62 in the previous quarter. While we acknowledge the potential of The TJX Companies, Inc. (NYSE:TJX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed The TJX Companies, Inc. (NYSE:TJX) and shared the list of best retail dividend stocks to buy. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.

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