BJ’s Wholesale Club Holdings (BJ) Pulled Back in Q4
ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2500 Growth Index in the fourth quarter with strong stock selection in the information technology ('IT') and consumer discretionary sectors overcoming detractors in the consumer staples sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge SMID Cap Growth Strategy featured stocks like BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in the fourth quarter 2023 investor letter. Headquartered in Marlborough, Massachusetts, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) operates warehouse clubs. On March 21, 2024, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) stock closed at $78.26 per share. One-month return of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was 9.26%, and its shares gained 4.10% of their value over the last 52 weeks. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) has a market capitalization of $10.406 billion.
ClearBridge SMID Cap Growth Strategy stated the following regarding BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its fourth quarter 2023 investor letter:
"The Strategy’s consumer staples holdings, particularly BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ), weighed on performance. After being one of the third quarter’s strongest performers, BJ’s stock pulled back in the fourth quarter after the company issued a more conservative outlook and guidance for its 2023 year due to changes in consumer behavior and disinflation. We remain confident in the company’s consistent membership growth, higher productivity due to new store openings and digital strategy."
A customer happily filling up their tank at the Wholesale Club's gasoline station.
BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds.At the end of the fourth quarter, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was held by 27 hedge fund portfolios, compared to 27 in the previous quarter, according to our database.
We discussed BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in another article and shared TimesSquare Capital Management's views on the company. In addition, please check out our hedge fund investor letters Q4 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.
