Citi Loves These 4 Retail Stocks But Hedge Fund Metric Urges Caution

2. TJX Companies Inc (NYSE:TJX)

– Investors with Long Positions (as of June 30): 33
– Aggregate Value of Investors’ Holdings (as of June 30): $1.28 Billion

With gains of over 6%, TJX Companies Inc (NYSE:TJX) is among the few retail sector stocks which is trading in the green this year. This perhaps also explains why it is a popular stock among hedge funds. The number of hedge funds we track that boasted owning TJX Companies Inc (NYSE:TJX) in their portfolio climbed by four during the April-June period and the aggregate value of their holdings also saw a jump of $210 million during that time, though they still owned just 2.80% of its shares. Analysts at Citigroup feel that the company’s growth and high returns make for a ‘winning model’ and that its stock has the potential to reach their price target of $88. This week, the company announced that Ernie Herrman, who has been the president of TJX Companies since 2011, will replace Carol Meyrowitz as the CEO of the company beginning at the start of the next fiscal year. Following this announcement, analysts at Wedbush reiterated their ‘Outperform’ rating and $80 price target on the stock. Gabriel Plotkin‘s Melvin Capital Management was one of the hedge funds that initiated a stake in TJX during the second quarter; as of June 30, it held 1.3 million shares.