Here’s Why BJ’s Wholesale Club Holdings (BJ) Performed Positively in the Third Quarter

ClearBridge Investments, an investment management company, published its “ClearBridge Small Cap Growth Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark, the Russell 2000 Growth Index, declining about 1%. Overall stock selection and sector allocation drove the strategy to underperform in the quarter. The healthcare sector was the primary performance detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments 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 clubs operator. On November 23, 2022, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) stock closed at $72.98 per share. One-month return of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was -2.73%, and its shares gained 7.78% of their value over the last 52 weeks. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) has a market capitalization of $9.965 billion.

ClearBridge Investments made the following comment about BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q3 2022 investor letter:

“On the positive side, technology and consumer names drove performance. Warehouse retailer BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) delivered second-quarter results that topped forecasts on better than expected same-store sales and expense controls. While the company faced similar merchandise inflationary pressures as other retailers, the impact to its margins was offset by benefits in gasoline profitability and BJ’s lower mix of general merchandise.”

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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 the list of losers on November 17. 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.

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