BJs Wholesale Club (NYSE:BJ) Shares Gap Up on Better-Than-Expected Earnings

BJs Wholesale Club Holdings Inc (NYSE:BJ)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $27.85, but opened at $26.42. BJs Wholesale Club shares last traded at $25.38, with a volume of 1,843,691 shares trading hands.

The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. BJs Wholesale Club had a net margin of 1.14% and a negative return on equity of 72.36%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 1.2% on a year-over-year basis.

Several analysts have recently commented on BJ shares. Morgan Stanley lifted their price target on shares of BJs Wholesale Club from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday. Goldman Sachs Group initiated coverage on shares of BJs Wholesale Club in a report on Thursday, July 11th. They issued a “buy” rating and a $29.00 target price for the company. Zacks Investment Research downgraded shares of BJs Wholesale Club from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. UBS Group lifted their target price on shares of BJs Wholesale Club from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Finally, ValuEngine upgraded shares of BJs Wholesale Club from a “sell” rating to a “hold” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. BJs Wholesale Club presently has an average rating of “Buy” and an average price target of $30.91.



In related news, EVP Lee Delaney sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $23.99, for a total transaction of $239,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Baldwin sold 30,147 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $24.07, for a total transaction of $725,638.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,014,271 shares of company stock valued at $221,389,034. Insiders own 17.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BJ. Point72 Asset Management L.P. purchased a new stake in BJs Wholesale Club in the second quarter valued at $45,000. Aperio Group LLC purchased a new stake in BJs Wholesale Club in the second quarter valued at $58,000. Acadian Asset Management LLC purchased a new stake in BJs Wholesale Club in the second quarter valued at $87,000. Oppenheimer Asset Management Inc. lifted its position in BJs Wholesale Club by 18.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,889 shares of the company’s stock valued at $107,000 after acquiring an additional 606 shares during the last quarter. Finally, Quantamental Technologies LLC lifted its position in BJs Wholesale Club by 4,303.0% in the second quarter. Quantamental Technologies LLC now owns 4,403 shares of the company’s stock valued at $116,000 after acquiring an additional 4,303 shares during the last quarter. 98.74% of the stock is owned by hedge funds and other institutional investors.

The business’s fifty day moving average price is $23.72 and its 200 day moving average price is $25.71. The firm has a market capitalization of $3.01 billion, a PE ratio of 22.26, a PEG ratio of 1.32 and a beta of 1.55.

About BJs Wholesale Club (NYSE:BJ)

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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