BJs Wholesale Club (NYSE:BJ) Sets New 52-Week High on Strong Earnings

BJs Wholesale Club Holdings Inc (NYSE:BJ) reached a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $32.47 and last traded at $32.12, with a volume of 163481 shares changing hands. The stock had previously closed at $28.97.

The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. BJs Wholesale Club had a net margin of 1.42% and a negative return on equity of 172.28%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The business’s revenue was up 21.1% on a year-over-year basis.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised BJs Wholesale Club from a “neutral” rating to an “overweight” rating and raised their target price for the company from $28.00 to $29.00 in a report on Friday, March 6th. Stephens reissued an “equal weight” rating and issued a $22.00 price objective on shares of BJs Wholesale Club in a research report on Tuesday. Loop Capital boosted their target price on shares of BJs Wholesale Club from $30.00 to $35.00 in a research report on Tuesday, April 14th. Barclays increased their price target on shares of BJs Wholesale Club from $29.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Nomura Instinet raised their price target on shares of BJs Wholesale Club from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.32.

In related news, Director Christopher J. Baldwin sold 300,000 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $25.13, for a total transaction of $7,539,000.00. Following the completion of the sale, the director now owns 649,897 shares in the company, valued at approximately $16,331,911.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Kessler sold 33,696 shares of BJs Wholesale Club stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $26.56, for a total transaction of $894,965.76. Following the transaction, the executive vice president now directly owns 177,165 shares of the company’s stock, valued at $4,705,502.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 684,825 shares of company stock worth $17,994,575. 4.20% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. M&T Bank Corp boosted its holdings in shares of BJs Wholesale Club by 5.5% in the 1st quarter. M&T Bank Corp now owns 10,817 shares of the company’s stock worth $275,000 after acquiring an additional 560 shares in the last quarter. State of Alaska Department of Revenue raised its position in BJs Wholesale Club by 4.6% in the 1st quarter. State of Alaska Department of Revenue now owns 21,009 shares of the company’s stock valued at $535,000 after purchasing an additional 929 shares during the last quarter. Private Capital Group LLC boosted its stake in BJs Wholesale Club by 59.6% in the first quarter. Private Capital Group LLC now owns 2,544 shares of the company’s stock worth $65,000 after purchasing an additional 950 shares in the last quarter. First Trust Advisors LP boosted its stake in BJs Wholesale Club by 0.8% in the first quarter. First Trust Advisors LP now owns 115,218 shares of the company’s stock worth $3,157,000 after purchasing an additional 955 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of BJs Wholesale Club by 457.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,428 shares of the company’s stock worth $32,000 after purchasing an additional 1,172 shares during the last quarter.

The stock has a fifty day moving average of $27.20 and a 200-day moving average of $24.20. The firm has a market capitalization of $4.01 billion, a P/E ratio of 27.68, a PEG ratio of 1.53 and a beta of 0.17.

BJs Wholesale Club Company Profile (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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