Jim Cramer’s Charitable Trust will sell 475 shares of TJX Companies on Friday, reducing its weighting from 3.4% to about 1.8%. The move follows Gordon Haskett’s downgrade of TJX to hold with a $130 price target, citing competitive pressure from Ross Stores and lingering execution problems at Marmaxx. The proceeds will be invested in 300 shares of Kimberly-Clark, purchased at roughly $108, and 220 shares of Constellation Brands, bought at roughly $145. After the purchases, their portfolio weights will rise to about 2.5% and 1.8%, respectively. The TJX sale will generate an average gain of about 113% on shares bought in August 2022 and March 2023.
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