Is The TJX Companies Inc (TJX) a Good Stock To Buy?

Seeing as The TJX Companies, Inc. (NYSE:TJX) has witnessed a decline in interest from the aggregate hedge fund industry, it’s easy to see that there were a few hedgies who sold off their entire stakes last quarter. It’s worth mentioning that Jim Simons’ Renaissance Technologies said goodbye to the largest investment of the “upper crust” of funds monitored by Insider Monkey, valued at an estimated $83.7 million in stock, and Kamyar Khajavi’s MIK Capital was right behind this move, as the fund dumped about $68.7 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to The TJX Companies, Inc. (NYSE:TJX). These stocks are Morgan Stanley (NYSE:MS), Ford Motor Company (NYSE:F), Kimberly Clark Corp (NYSE:KMB), and The Southern Company (NYSE:SO). This group of stocks’ market valuations resemble TJX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MS 46 3631666 -3
F 32 683624 1
KMB 29 1420992 7
SO 20 568071 -1

As you can see these stocks had an average of 32 funds with bullish positions at the end of the third quarter and the average amount invested in these stocks was $1576 million. That figure was $1764 million in TJX Companies’ case. Morgan Stanley (NYSE:MS) is the most popular stock in this table. On the other hand The Southern Company (NYSE:SO) is the least popular one with only 20 bullish hedge fund positions. Compared to these stocks The TJX Companies, Inc. (NYSE:TJX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.