5 Best Clothing Stocks To Buy Now

3. The TJX Companies, Inc. (NYSE:TJX)

Number of Hedge Fund Holders: 55

The TJX Companies, Inc. (NYSE:TJX) is a Massachusetts-based retailer of off-price apparel and home fashions. The company sells family apparel, furniture, rugs, lighting products, giftware, soft home products, cookware, and other merchandise. On September 19, The TJX Companies, Inc. (NYSE:TJX) declared a $0.295 per share quarterly dividend, in line with previous. The dividend is payable on December 1, to shareholders of record on November 10. It is one of the best clothing stocks to buy now. 

On November 18, Barclays analyst Adrienne Yih raised the price target on The TJX Companies, Inc. (NYSE:TJX) to $94 from $76 and reiterated an Overweight rating on the shares following the Q3 results.

Among the hedge funds tracked by Insider Monkey, 55 funds were bullish on The TJX Companies, Inc. (NYSE:TJX) at the end of September 2022, compared to 49 funds in the prior quarter. Tim Hurd and Ed Magnus’ BlueSpruce Investments held the largest stake in the company, comprising 5.35 million shares worth $332.3 million. 

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.”