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

BJ’s Wholesale Club (NYSE:BJ) posted its quarterly earnings results on Friday. The company reported $0.98 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company earned $0.99 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. BJ’s Wholesale Club updated its FY24 guidance to $3.80-3.92 EPS.

BJ’s Wholesale Club Trading Down 4.8 %

Shares of BJ opened at $64.35 on Friday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 3.16 and a beta of 0.37. BJ’s Wholesale Club has a 52-week low of $60.33 and a 52-week high of $78.88. 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’s fifty day moving average is $69.75 and its 200-day moving average is $67.22.

Analyst Ratings Changes

Several research firms recently weighed in on BJ. UBS Group dropped their price target on BJ’s Wholesale Club from $83.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Evercore ISI lifted their price target on BJ’s Wholesale Club from $68.00 to $69.00 and gave the stock an “in-line” rating in a report on Friday, September 8th. Bank of America dropped their price target on BJ’s Wholesale Club from $85.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Morgan Stanley dropped 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 report on Wednesday, August 23rd. Finally, Loop Capital dropped their price objective on BJ’s Wholesale Club from $85.00 to $80.00 and set a “buy” rating for the company in a 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.00.

Insider Buying and Selling

In related news, EVP William C. Werner sold 890 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $72.47, for a total transaction of $64,498.30. Following the sale, the executive vice president now owns 29,357 shares in the company, valued at approximately $2,127,501.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BJ’s Wholesale Club news, EVP William C. Werner sold 3,799 shares of BJ’s Wholesale Club stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $70.65, for a total transaction of $268,399.35. Following the transaction, the executive vice president now directly owns 31,081 shares of the company’s stock, valued at approximately $2,195,872.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William C. Werner sold 890 shares of BJ’s Wholesale Club stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $72.47, for a total value of $64,498.30. Following the transaction, the executive vice president now directly owns 29,357 shares in the company, valued at $2,127,501.79. The disclosure for this sale can be found here. Insiders have sold 118,653 shares of company stock worth $8,306,084 in the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its stake in BJ’s Wholesale Club by 278.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,394 shares of the company’s stock worth $229,000 after buying an additional 2,498 shares during the period. Captrust Financial Advisors raised 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 buying an additional 1,199 shares during the period. Cerity Partners LLC acquired a new position in BJ’s Wholesale Club during the 4th quarter worth approximately $222,000. B. Riley Wealth Advisors Inc. acquired a new position in BJ’s Wholesale Club during the 3rd quarter worth approximately $222,000. Finally, XTX Topco Ltd acquired a new position in BJ’s Wholesale Club during the 2nd quarter worth approximately $202,000. 98.60% of the stock is owned by institutional investors and hedge funds.

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.