BJs Wholesale Club (BJ) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of BJs Wholesale Club (NYSE:BJ) from a buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “BJ’s Wholesale Club Holdings, Inc. is an operator of membership warehouse clubs primarily in the Eastern United States. The company operates clubs and BJ’s Gas(R) locations in states. It provides shopping destination which includes exclusive Wellsley Farms(R) and Berkley Jensen(R) brands, along with USDA Choice meats, premium produce and delicious organics. BJ’s Wholesale Club Holdings, Inc. is based in WESTBOROUGH, Mass. “

A number of other analysts have also issued reports on the company. Citigroup started coverage on BJs Wholesale Club in a research report on Tuesday, October 2nd. They issued a buy rating and a $31.00 target price on the stock. Loop Capital boosted their target price on BJs Wholesale Club to $35.00 and gave the company a buy rating in a research report on Wednesday, September 5th. Gordon Haskett lowered BJs Wholesale Club from a buy rating to an accumulate rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Northcoast Research started coverage on BJs Wholesale Club in a research report on Tuesday, September 25th. They issued a buy rating and a $38.00 target price on the stock. Finally, Jefferies Financial Group started coverage on BJs Wholesale Club in a research report on Monday, July 23rd. They issued a buy rating and a $31.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $29.92.



NYSE BJ traded down $0.70 on Thursday, reaching $21.05. The stock had a trading volume of 834,497 shares, compared to its average volume of 2,033,503. BJs Wholesale Club has a 12-month low of $20.56 and a 12-month high of $32.92.

BJs Wholesale Club (NYSE:BJ) last announced its earnings results on Tuesday, August 28th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.28 billion. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. Analysts predict that BJs Wholesale Club will post 0.92 earnings per share for the current fiscal year.

In other BJs Wholesale Club news, CEO Christopher J. Baldwin sold 302,668 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $25.09, for a total value of $7,593,940.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tommy Yin sold 15,034,658 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $26.00, for a total transaction of $390,901,108.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,430,535 shares of company stock valued at $400,833,662.

Several hedge funds have recently modified their holdings of BJ. Jane Street Group LLC acquired a new position in shares of BJs Wholesale Club during the second quarter worth $280,000. Bank of New York Mellon Corp acquired a new position in shares of BJs Wholesale Club during the second quarter worth $298,000. Russell Investments Group Ltd. acquired a new position in shares of BJs Wholesale Club during the second quarter worth $311,000. Strs Ohio acquired a new position in shares of BJs Wholesale Club during the third quarter worth $334,000. Finally, Legal & General Group Plc acquired a new position in shares of BJs Wholesale Club during the second quarter worth $468,000. Hedge funds and other institutional investors own 61.37% of the company’s stock.

About BJs Wholesale Club

BJ's Wholesale Club Holdings, Inc operates as a warehouse club on the East Coast of the United States. It offers perishable, edible grocery, general merchandise, and non-edible grocery products. The company also sells electronics, computers, office supplies and equipment, home products, health and beauty aids, sporting goods, outdoor living, baby products, toys, and jewelry through Website.

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