Is BJ’s Wholesale Club Holdings (BJ) an Inflation Proof Stock?
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2500 Growth Index and returned 0.22% (net), and the index return was -0.12%. During the quarter, weakness in Financials, Health Care, and Industrial sectors was offset by strength in Consumer Staples, Consumer Discretionary, and Information Technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare Capital highlighted stocks like BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q3 2022 investor letter. Headquartered in Marlborough, Massachusetts, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is a warehouse club. On December 21, 2022, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) stock closed at $66.86 per share. One-month return of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was -8.39% and its shares gained 4.05% of their value over the last 52 weeks. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) has a market capitalization of $8.988 billion.
TimesSquare Capital made the following comment about BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q3 2022 investor letter:
“The Consumer Staples sector also contributed to the strategy. That included the 17% gain from BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ), a warehouse club operator focused on smaller package sizes for clients that tend to live in cities or smaller homes. BJ’s reported revenues and earnings that outpaced expectations. Though inflation weighed on margins in some areas, the size of BJ’s membership grew as did the corresponding fee income. Much as it did in the early days of the pandemic, BJ’s demonstrated meaningful value to its membership during the current inflationary period.”
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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, 29 hedge fund portfolios held BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) at the end of the third quarter which was 31 in the previous quarter.
We discussed BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in another article and shared ClearBridge Investments' views on the company. In addition, please check out our hedge fund investor letters Q3 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.
