BJ’s Wholesale Club (NYSE:BJ) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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

BJ’s Wholesale Club Trading Down 4.8 %

Shares of NYSE BJ opened at $64.35 on Friday. BJ’s Wholesale Club has a 12 month low of $60.33 and a 12 month high of $78.88. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 3.16 and a beta of 0.37. The company has a quick ratio of 0.12, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $69.75 and a 200-day simple moving average of $67.17.

Analysts Set New Price Targets

Several research analysts have recently commented on BJ shares. Loop Capital decreased their target price 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. Deutsche Bank Aktiengesellschaft lowered BJ’s Wholesale Club from a “buy” rating to a “hold” rating and reduced their price objective for the company from $79.00 to $71.00 in a research report on Monday, November 6th. UBS Group reduced 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. Gordon Haskett upgraded BJ’s Wholesale Club from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, TD Cowen started coverage on BJ’s Wholesale Club in a research report on Thursday, September 14th. They set an “outperform” rating and a $80.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.33.

Insider Activity

In other 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 transaction of $137,978.80. Following the completion of the sale, the executive vice president now directly owns 34,880 shares of the company’s stock, valued at $2,442,995.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP William C. Werner sold 3,799 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $70.65, for a total transaction of $268,399.35. Following the completion of the sale, the executive vice president now directly owns 31,081 shares of the company’s stock, valued at approximately $2,195,872.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William C. Werner sold 1,970 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were 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 of the company’s stock, valued at $2,442,995.20. The disclosure for this sale can be found here. Insiders sold a total of 118,653 shares of company stock valued at $8,306,084 over the last three months. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BJ’s Wholesale Club

A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BJ’s Wholesale Club in the first quarter valued at about $268,000. HighTower Advisors LLC lifted its holdings in shares of BJ’s Wholesale Club by 44.3% in the first quarter. HighTower Advisors LLC now owns 7,180 shares of the company’s stock valued at $487,000 after purchasing an additional 2,203 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of BJ’s Wholesale Club by 104.7% in the first quarter. PNC Financial Services Group Inc. now owns 10,961 shares of the company’s stock valued at $741,000 after purchasing an additional 5,607 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of BJ’s Wholesale Club by 7.4% in the first quarter. Bank of Montreal Can now owns 12,440 shares of the company’s stock valued at $843,000 after purchasing an additional 862 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of BJ’s Wholesale Club by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 74,006 shares of the company’s stock valued at $5,143,000 after purchasing an additional 5,272 shares in the last quarter. 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.