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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (19455)11/18/2004 5:09:18 PM
From: Paul Senior  Read Replies (1) of 78523
 
I'll add a tiny amount to an exploratory position in TJX.

Stock hasn't done much in past couple years although trend over years seems to be up:

finance.yahoo.com

Some things I like about TJX:

High return on assets since '97

10% 5-year annual avg. sales increase

$3.1B TJX stock (236M sh) retired since '97

Company is "confident in our ability to continue to provide value to our shareholders through both dividend payments and the share repurchase program". (from '03 annual)

Capital Research and Management, and Ruane, Cunniff are top institutional holders. Sequoia Fund and Oakmark Equity and Income are mutual funds with positions (per Yahoo). So the boys of Graham Doddsville lend some credence.
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I suspect company will continue do okay - get its share of the markets it's in. It appears to me that investors may have to be somewhat patient (18-24 months, maybe much longer) to capture any significant gains from this dull stock though. Jmo.
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