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If You Own TJX Companies (TJX) Stock, Should You Sell It Now?

Alex Smith
·3 min read

Brown Advisory recently released its Q2 2020 Investor Letter, a copy of which you can download here. The Large-Cap Sustainable Growth Fund posted a return of 29.62% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned 27.84% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.

In the said letter, Brown Advisory highlighted a few stocks and TJX Companies Inc (NYSE:TJX) is one of them. TJX Companies Inc (NYSE:TJX) is an off-price department store company. Year-to-date, TJX Companies Inc (NYSE:TJX) stock lost 12.1% and on July 22nd it had a closing price of $53.44. Here is what Brown Advisory said:

"In May, TJX Companies announced first-quarter results and higher sales across the ~1,100 stores that had been re-opened for at least one week. Unsurprisingly, it posted a large net loss, attributable to the closure of all of its stores for about half of the quarter. We are confident in the company’s ability to manage costs and to delight customers despite reduced traffic due to social distancing. We trimmed the position earlier in the quarter to account for current headwinds."

In Q1 2020, the number of bullish hedge fund positions on TJX Companies Inc (NYSE:TJX) stock increased by about 21% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with TJX's growth potential. Our calculations showed that TJX Companies Inc (NYSE:TJX) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. Hedge fund sentiment towards Tesla reached its all time high at the end of 2019 and Tesla shares more than tripled this year. We are trying to identify other EV revolution winners, so we are checking out this under-the-radar lithium stock. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:

Disclosure: None. This article is originally published at Insider Monkey.