Investment management company LVS Advisory, a New York City-based full-service investment firm, recently released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The defensive portfolio of the fund gained 0.6% (net of all fees and expenses) in the first quarter compared to the 4.2% gain for its benchmark the High-Yield Bond Index. On the other hand, its Growth Portfolio gained 8.1% in the quarter compared to 7.5% for its benchmark, S&P 500 Total Return Index. For more information on the fund’s top picks in 2023, please check its top five holdings.
LVS Advisory highlighted stocks like BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in the first quarter 2023 investor letter. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is a warehouse club operator headquartered in Westborough, Massachusetts. On April 13, 2023, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) stock closed at $74.78 per share. One-month return of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was -0.45%, and its shares gained 11.00% of their value over the last 52 weeks. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) has a market capitalization of $10.013 billion.
LVS Advisory made the following comment about BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q1 2023 investor letter:
“We discussed our BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ)’s investment in our Q4 letter. The company has delivered strong financial results yet the market continues to underappreciate the quality and long-term earnings growth potential of this business. BJ’s stock has also been punished due to results at Costco and Walmart where weakness in the general merchandise category has negatively impacted same store comps. However, the market appears to be missing that BJ’s is primarily a grocer today and general merchandise represents more of a growth opportunity than a headwind. Furthermore, we expect BJ’s to raise membership prices at some point in the next 1-2 years which will serve as a strong additional catalyst to earnings and is not currently baked into estimates.”
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BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) at the end of the fourth quarter which was 29 in the previous quarter.
We discussed BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in another article and shared TimesSquare U.S. Mid Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 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.
