BJ’s Wholesale Club (NYSE:BJ) Price Target Raised to $100.00

BJ’s Wholesale Club (NYSE:BJ) had its price objective raised by Wells Fargo & Company from $92.00 to $100.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also issued reports on BJ. Bank of America reduced their price target on shares of BJ’s Wholesale Club from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Roth Mkm raised their target price on BJ’s Wholesale Club from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Melius Research initiated coverage on BJ’s Wholesale Club in a research report on Monday, September 23rd. They issued a “buy” rating and a $90.00 target price for the company. Finally, JPMorgan Chase & Co. raised BJ’s Wholesale Club from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $76.00 to $78.00 in a report on Monday, August 26th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, BJ’s Wholesale Club currently has an average rating of “Moderate Buy” and an average price target of $87.87.

BJ’s Wholesale Club Price Performance

Shares of BJ traded up $1.82 during trading hours on Tuesday, reaching $88.79. The company had a trading volume of 35,801 shares, compared to its average volume of 1,460,196. The company has a current ratio of 0.76, a quick ratio of 0.15 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $84.59 and a 200-day simple moving average of $84.76. BJ’s Wholesale Club has a 12-month low of $63.08 and a 12-month high of $92.37. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.23 and a beta of 0.24.

BJ’s Wholesale Club (NYSE:BJ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. BJ’s Wholesale Club had a net margin of 2.62% and a return on equity of 36.12%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts expect that BJ’s Wholesale Club will post 3.82 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Joseph Mcgrail sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $83.57, for a total transaction of $83,570.00. Following the completion of the sale, the senior vice president now owns 13,566 shares of the company’s stock, valued at $1,133,710.62. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert W. Eddy sold 11,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.75, for a total value of $921,250.00. Following the completion of the transaction, the chief executive officer now owns 434,792 shares in the company, valued at approximately $36,413,830. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,000 shares of company stock worth $2,818,390 in the last ninety days. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On BJ’s Wholesale Club

Several hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in shares of BJ’s Wholesale Club by 3.3% in the third quarter. CIBC Asset Management Inc now owns 3,906 shares of the company’s stock valued at $322,000 after purchasing an additional 123 shares in the last quarter. Fifth Third Bancorp grew its position in BJ’s Wholesale Club by 9.3% during the second quarter. Fifth Third Bancorp now owns 1,461 shares of the company’s stock worth $128,000 after buying an additional 124 shares in the last quarter. CWM LLC grew its position in BJ’s Wholesale Club by 7.4% during the second quarter. CWM LLC now owns 1,863 shares of the company’s stock worth $164,000 after buying an additional 128 shares in the last quarter. OLD National Bancorp IN grew its position in BJ’s Wholesale Club by 2.5% during the third quarter. OLD National Bancorp IN now owns 5,438 shares of the company’s stock worth $449,000 after buying an additional 133 shares in the last quarter. Finally, Riverwater Partners LLC grew its position in BJ’s Wholesale Club by 1.1% during the second quarter. Riverwater Partners LLC now owns 12,951 shares of the company’s stock worth $1,138,000 after buying an additional 135 shares in the last quarter. 98.60% of the stock is currently owned by hedge funds and other institutional investors.

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 groceries, general merchandise, gasoline and other ancillary services, coupon books, and promotions. The company sells its products through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, as well as the mobile app.