BJ’s Wholesale Club (NYSE:BJ) Issues Earnings Results

BJ’s Wholesale Club (NYSE:BJ) posted its quarterly earnings data on Friday. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03, MarketWatch Earnings reports. BJ’s Wholesale Club had a return on equity of 47.80% and a net margin of 2.61%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the company earned $0.99 EPS. The company’s revenue was up .7% on a year-over-year basis. BJ’s Wholesale Club updated its FY24 guidance to $3.80-3.92 EPS.

BJ’s Wholesale Club Stock Performance

Shares of BJ stock opened at $65.99 on Friday. The stock has a market capitalization of $8.82 billion, a P/E ratio of 18.22, a PEG ratio of 3.16 and a beta of 0.37. The company has a current ratio of 0.71, a quick ratio of 0.12 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $69.79 and its 200 day moving average is $67.30. BJ’s Wholesale Club has a 12 month low of $60.33 and a 12 month high of $78.88.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BJ shares. Gordon Haskett raised BJ’s Wholesale Club from a “hold” rating to a “buy” rating in a report on Friday, November 10th. The Goldman Sachs Group downgraded BJ’s Wholesale Club from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $73.00 in a report on Tuesday, October 17th. Loop Capital lowered their price objective on BJ’s Wholesale Club from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. UBS Group lowered their price objective on BJ’s Wholesale Club from $83.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. Finally, Morgan Stanley lowered their price objective on BJ’s Wholesale Club from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.00.

Insider Activity at BJ’s Wholesale Club

In related news, EVP Jeff Desroches sold 33,934 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $68.88, for a total transaction of $2,337,373.92. Following the sale, the executive vice president now directly owns 80,882 shares in the company, valued at approximately $5,571,152.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other BJ’s Wholesale Club news, EVP Jeff Desroches sold 33,934 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $68.88, for a total value of $2,337,373.92. Following the sale, the executive vice president now directly owns 80,882 shares in the company, valued at approximately $5,571,152.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura L. Felice sold 46,586 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $70.54, for a total transaction of $3,286,176.44. Following the completion of the sale, the chief financial officer now owns 70,340 shares in the company, valued at $4,961,783.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,653 shares of company stock worth $8,306,084. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BJ’s Wholesale Club

A number of institutional investors have recently made changes to their positions in BJ. Fortis Capital Advisors LLC bought a new position in shares of BJ’s Wholesale Club during the 4th quarter valued at $46,000. Point72 Hong Kong Ltd bought a new stake in BJ’s Wholesale Club in the 1st quarter worth $50,000. CENTRAL TRUST Co bought a new stake in BJ’s Wholesale Club in the 3rd quarter worth $70,000. Atlas Capital Advisors LLC bought a new stake in BJ’s Wholesale Club in the 1st quarter worth $141,000. Finally, State of Wyoming lifted its position in shares of BJ’s Wholesale Club by 107.1% in the 4th quarter. State of Wyoming now owns 1,860 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares during the period. Institutional investors own 98.60% of the company’s stock.

BJ’s Wholesale Club Company Profile

BJ's Wholesale Club Holdings, Inc, together with its subsidiaries, operates warehouse clubs on the eastern half of the United States. It provides perishable, general merchandise, gasoline, coupon books, promotions, and other ancillary services. The company sells its products through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, as well as the mobile app.