Zacks Investment Research Upgrades BJs Wholesale Club (BJ) to Buy
BJs Wholesale Club (NYSE:BJ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm presently has a $29.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 8.78% from the stock’s current price.
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. “
Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their target price on shares of BJs Wholesale Club from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Gordon Haskett upgraded shares of BJs Wholesale Club from an “accumulate” rating to a “buy” rating in a research report on Thursday, March 21st. Nomura lowered their price objective on shares of BJs Wholesale Club from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Barclays initiated coverage on shares of BJs Wholesale Club in a research report on Friday, February 1st. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Co raised their price objective on shares of BJs Wholesale Club from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $30.43.
BJs Wholesale Club (NYSE:BJ) last announced its earnings results on Thursday, May 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.12 billion. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that BJs Wholesale Club will post 1.48 EPS for the current year.
In other news, SVP Caroline Glynn sold 68,880 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $27.00, for a total value of $1,859,760.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Cvc European Equity V. Ltd sold 9,775,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.58, for a total transaction of $240,269,500.00. The disclosure for this sale can be found here. Insiders sold a total of 10,240,551 shares of company stock worth $253,069,037 in the last ninety days. Insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BJ. PNC Financial Services Group Inc. boosted its stake in BJs Wholesale Club by 201.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,165 shares of the company’s stock worth $26,000 after acquiring an additional 778 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in BJs Wholesale Club during the 4th quarter worth approximately $73,000. Flagship Harbor Advisors LLC boosted its stake in BJs Wholesale Club by 47.1% during the 4th quarter. Flagship Harbor Advisors LLC now owns 3,429 shares of the company’s stock worth $75,000 after acquiring an additional 1,098 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in BJs Wholesale Club during the 4th quarter worth approximately $81,000. Finally, QS Investors LLC bought a new position in BJs Wholesale Club during the 4th quarter worth approximately $89,000. 90.61% of the stock is currently owned by institutional investors.
BJs Wholesale Club Company Profile
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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