BJ’s Wholesale Club (NYSE:BJ) Announces Quarterly Earnings Results

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

BJ’s Wholesale Club Stock Down 1.2 %

BJ opened at $66.79 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.12 and a current ratio of 0.71. The business has a 50 day moving average price of $69.79 and a 200 day moving average price of $67.30. The firm has a market cap of $8.93 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 3.16 and a beta of 0.37. BJ’s Wholesale Club has a twelve month low of $60.33 and a twelve month high of $78.88.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. TD Cowen started coverage on shares of BJ’s Wholesale Club in a report on Thursday, September 14th. They set an “outperform” rating and a $80.00 price objective on the stock. Morgan Stanley dropped their target price on shares of 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. Gordon Haskett raised shares of BJ’s Wholesale Club from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. UBS Group lowered their price objective on shares of 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, Deutsche Bank Aktiengesellschaft downgraded shares of BJ’s Wholesale Club from a “buy” rating to a “hold” rating and lowered their price objective for the company from $79.00 to $71.00 in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, BJ’s Wholesale Club presently has a consensus rating of “Hold” and a consensus target price of $72.00.

Insiders Place Their Bets

In other news, EVP William C. Werner sold 1,970 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $70.04, for a total transaction of $137,978.80. Following the sale, the executive vice president now directly owns 34,880 shares in the company, valued at $2,442,995.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BJ’s Wholesale Club news, EVP William C. Werner sold 1,970 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $70.04, for a total value of $137,978.80. Following the sale, the executive vice president now directly owns 34,880 shares in the company, valued at $2,442,995.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Desroches sold 33,934 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $68.88, for a total value of $2,337,373.92. Following the completion of the transaction, the executive vice president now directly owns 80,882 shares in the company, valued at approximately $5,571,152.16. The disclosure for this sale can be found here. Insiders have sold a total of 118,653 shares of company stock valued at $8,306,084 in the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BJ’s Wholesale Club

Several large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board boosted its position in BJ’s Wholesale Club by 278.8% during the first quarter. Canada Pension Plan Investment Board now owns 3,394 shares of the company’s stock valued at $229,000 after purchasing an additional 2,498 shares during the last quarter. Captrust Financial Advisors increased its stake in BJ’s Wholesale Club by 48.4% during the 2nd quarter. Captrust Financial Advisors now owns 3,676 shares of the company’s stock worth $229,000 after acquiring an additional 1,199 shares during the period. Cerity Partners LLC bought a new position in BJ’s Wholesale Club during the 4th quarter worth $222,000. B. Riley Wealth Advisors Inc. bought a new position in shares of BJ’s Wholesale Club in the 3rd quarter valued at $222,000. Finally, XTX Topco Ltd bought a new position in shares of BJ’s Wholesale Club in the 2nd quarter valued at $202,000. 98.60% of the stock is currently owned by institutional investors.

About BJ’s Wholesale Club

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.