Is The TJX Companies (TJX) a Good Long-Term Bet?

Madison Funds, managed by Madison Investment Management, released the “Madison Investors Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 10.2% compared to the 7.6% return for the S&P 500 Index. For the calendar year, the fund declined 13.2% compared to a -18.1% fall for the S&P 500 Index. In the quarter, the Consumer Discretionary sector was the largest positive contributor to the fund’s performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Madison Funds highlighted stocks like The TJX Companies, Inc. (NYSE:TJX) in the fourth quarter 2022 investor letter. Headquartered in Framingham, Massachusetts, The TJX Companies, Inc. (NYSE:TJX) is an off-price retailer of apparel and home goods. On January 12, 2023, The TJX Companies, Inc. (NYSE:TJX) stock closed at $81.92 per share. One-month return of The TJX Companies, Inc. (NYSE:TJX) was 4.14%, and its shares gained 12.82% of their value over the last 52 weeks. The TJX Companies, Inc. (NYSE:TJX) has a market capitalization of $94.659 billion.

Madison Funds made the following comment about The TJX Companies, Inc. (NYSE:TJX) in its fourth quarter 2022 investor letter:

“In the fourth quarter, the Consumer Discretionary sector was the largest positive contributor to our relative performance, in part driven by contributions from The TJX Companies, Inc. (NYSE:TJX). TJX is a leading off-price apparel and home goods retailer. After a couple of years of bumpy performance due to closing stores during the height of the pandemic and absorbing rising supply chain costs, sales and margins have reverted towards more normal levels. We believe TJX’s consumer value proposition remains terrific and they will continue to gobble up market share from department stores over the long term.”

The TJX Companies, Inc. (NYSE:TJX) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. Per our database, 55 hedge fund portfolios held The TJX Companies, Inc. (NYSE:TJX) at the end of the third quarter, and 49 in the previous quarter.

We discussed The TJX Companies, Inc. (NYSE:TJX) in another article and shared Jim Cramer stock picks in the last week of December. In addition, please check out our hedge fund investor letters Q4 2022 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.