On Thursday, Bartlett & Co. Wealth Management LLC disclosed that it reduced its position in TJX Companies (TJX 0.72%), selling shares for an estimated $2.5 million based on the average price for the quarter ended September 30.
What Happened
Bartlett & Co. Wealth Management reported in a Securities and Exchange Commission (SEC) filing released on Thursday, that it reduced its holdings in TJX Companies (TJX 0.72%) by 19,095 shares. The estimated value of the shares sold was approximately $2.5 million based on the average price for the quarter ended September 30.
What Else to Know
This was a sell, leaving Bartlett's TJX stake at 2% of the fund’s 13F reportable assets under management.
Top holdings after the filing:
- NASDAQ:MSFT: $508.1 million (6.4% of AUM)
- NASDAQ:GOOGL: $442.8 million (5.6% of AUM)
- NASDAQ:AAPL: $434.3 million (5.5% of AUM)
- NYSE:BRK-B: $399.9 million (5.1% of AUM)
- NYSE:PG: $332.4 million (4.2% of AUM)
As of Monday afternoon, shares were priced at $141.77, up 23% over the past year and well outperforming the S&P 500's nearly 14% gain.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Monday afternoon) | $141.77 |
| Market capitalization | $158 billion |
| Revenue (TTM) | $57.9 billion |
| Net income (TTM) | $5 billion |
Company Snapshot
- TJX Companies offers off-price apparel, footwear, accessories, and home fashions through brands including T.J. Maxx, Marshalls, HomeGoods, Sierra, and Homesense.
- It operates a high-volume, value-driven retail model focused on sourcing branded merchandise at significant discounts and selling through a broad store network and e-commerce platforms.
- The company serves value-conscious consumers in North America, Europe, and Australia, with a diversified portfolio and substantial e-commerce presence.
TJX Companies is a leading global off-price retailer with a broad geographic reach and a focus on delivering branded merchandise at value prices, supporting consistent revenue growth and profitability.
Foolish Take
Bartlett & Co. Wealth Management’s $2.5 million trim of its TJX Companies position might reflect a modest rebalancing rather than a loss of conviction in one of retail’s most resilient players. Even after the sale, TJX remains one of Bartlett’s top consumer holdings, backed by a track record of consistent growth and a loyal value-oriented customer base.
TJX has outperformed much of the retail sector this year, with shares up more than 20% year-over-year following strong fiscal second-quarter results. The off-price retailer reported 7% revenue growth to $14.4 billion and earnings per share up 15% to $1.10. Comparable store sales rose 4%, led by strength at HomeGoods and international banners. The company also raised full-year guidance for profit margin and EPS, projecting continued growth through the holiday season.
With a global footprint exceeding 5,100 stores, TJX’s mix of flexibility, scale, and customer loyalty continues to drive performance. For Bartlett, the reduction likely reflects profit-taking after a sustained run rather than a bearish view on the retailer’s fundamentals.
Glossary
13F reportable assets under management (AUM): The total value of securities a fund must report quarterly to the Securities and Exchange Commission (SEC) on Form 13F.
Position: The amount of a particular security or asset held by an investor or fund.
Top holdings: The largest investments in a fund's portfolio, usually by market value or percentage of assets.
Outperformed: Delivered a higher return compared to a specific benchmark or index over a given period.
Off-price retailer: A retailer selling branded goods at prices lower than traditional retail stores, often through discount sourcing.
Stake: The ownership interest or investment a person or entity holds in a company.
Value-driven retail model: A business approach focused on offering products at lower prices to attract cost-conscious consumers.
TTM: The 12-month period ending with the most recent quarterly report.
Fund: A pooled investment vehicle managed by professionals, investing in various assets on behalf of clients.
Trade: The act of buying or selling a security or asset in the financial markets.
