BJ’s Wholesale Club (NYSE:BJ) Upgraded by Wells Fargo & Company to Overweight

Wells Fargo & Company upgraded shares of BJ’s Wholesale Club (NYSE:BJ) from an equal weight rating to an overweight rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $92.00 price objective on the stock, up from their prior price objective of $75.00.

Other analysts also recently issued reports about the stock. Bank of America boosted their price target on shares of BJ’s Wholesale Club from $90.00 to $95.00 and gave the stock a buy rating in a research note on Friday, May 24th. DA Davidson boosted their price objective on shares of BJ’s Wholesale Club from $92.00 to $95.00 and gave the company a buy rating in a research report on Friday, May 24th. JPMorgan Chase & Co. boosted their price objective on shares of BJ’s Wholesale Club from $74.00 to $76.00 and gave the company an underweight rating in a research report on Friday, August 16th. Evercore ISI boosted their price objective on shares of BJ’s Wholesale Club from $86.00 to $89.00 and gave the company an in-line rating in a research report on Thursday, June 20th. Finally, TD Cowen boosted their price objective on shares of BJ’s Wholesale Club from $93.00 to $95.00 and gave the company a buy rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $85.93.

BJ’s Wholesale Club Stock Performance

BJ’s Wholesale Club stock opened at $82.78 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.74 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $10.99 billion, a PE ratio of 21.50, a P/E/G ratio of 3.12 and a beta of 0.23. The firm has a fifty day simple moving average of $87.60 and a two-hundred day simple moving average of $80.37. BJ’s Wholesale Club has a twelve month low of $63.08 and a twelve month high of $92.37.

BJ’s Wholesale Club (NYSE:BJ) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.15 billion. BJ’s Wholesale Club had a net margin of 2.59% and a return on equity of 37.78%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. Research analysts expect that BJ’s Wholesale Club will post 3.91 EPS for the current year.

Insider Transactions at BJ’s Wholesale Club

In other news, EVP Jeff Desroches sold 14,106 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $86.00, for a total value of $1,213,116.00. Following the transaction, the executive vice president now owns 87,294 shares in the company, valued at $7,507,284. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Jeff Desroches sold 14,106 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $86.00, for a total transaction of $1,213,116.00. Following the transaction, the executive vice president now owns 87,294 shares in the company, valued at $7,507,284. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Graham Luce sold 16,596 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $91.15, for a total transaction of $1,512,725.40. Following the transaction, the executive vice president now owns 14,131 shares in the company, valued at approximately $1,288,040.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,544 shares of company stock worth $7,237,084. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in BJ’s Wholesale Club by 23.7% during the second quarter. Cetera Investment Advisers now owns 30,242 shares of the company’s stock valued at $2,656,000 after purchasing an additional 5,800 shares during the period. Truist Financial Corp raised its position in BJ’s Wholesale Club by 6.7% in the second quarter. Truist Financial Corp now owns 228,539 shares of the company’s stock worth $20,075,000 after acquiring an additional 14,329 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in BJ’s Wholesale Club by 123.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $132,000 after acquiring an additional 828 shares during the period. Creative Planning raised its position in BJ’s Wholesale Club by 10.7% in the second quarter. Creative Planning now owns 9,298 shares of the company’s stock worth $817,000 after acquiring an additional 898 shares during the period. Finally, Algert Global LLC bought a new position in BJ’s Wholesale Club in the second quarter worth approximately $1,599,000. Institutional investors own 98.60% of the company’s stock.

About BJ’s Wholesale Club

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.