The TJX Companies, Inc. (TJX): Are Hedge Funds Right About This Stock?

As one would reasonably expect, key money managers were leading the bulls’ herd. Columbus Circle Investors established the largest position in The TJX Companies, Inc. (NYSE:TJX). Columbus Circle Investors had $111.6 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made an $80.2 million investment in the stock during the quarter. The other funds with brand new TJX positions are Ben Gambill’s Tiger Eye Capital, Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital, and David Keidan’s Buckingham Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as The TJX Companies, Inc. (NYSE:TJX) but similarly valued. These stocks are Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), General Motors Company (NYSE:GM), EMC Corporation (NYSE:EMC), and Statoil ASA (ADR) (NYSE:STO). This group of stocks’ market valuations are closest to TJX’s market valuation.

As you can see these stocks had an average of 58.25 hedge funds with bullish positions and the average amount invested in these stocks was $3834 million. That figure was $1502 million in TJX’s case. General Motors Company (NYSE:GM) is the most popular stock in this table. On the other hand Statoil ASA (ADR) (NYSE:STO) is the least popular one with only 10 bullish hedge fund positions. The TJX Companies, Inc. (NYSE:TJX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GM might be a better candidate to consider a long position.