BJ’s Wholesale Club (NYSE:BJ) Price Target Raised to $98.00

BJ’s Wholesale Club (NYSE:BJ) had its price target upped by Morgan Stanley from $90.00 to $98.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

BJ has been the topic of several other research reports. 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 on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. upgraded BJ’s Wholesale Club from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $78.00 in a report on Monday, August 26th. Wells Fargo & Company upped their price target on BJ’s Wholesale Club from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Melius Research assumed coverage on shares of BJ’s Wholesale Club in a research note on Monday, September 23rd. They set a “buy” rating and a $90.00 target price for the company. Finally, Roth Mkm raised their price target on shares of 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. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, BJ’s Wholesale Club has an average rating of “Moderate Buy” and a consensus price target of $92.50.

BJ’s Wholesale Club Stock Up 4.3 %

Shares of BJ opened at $96.74 on Friday. The firm has a market cap of $12.83 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 4.43 and a beta of 0.24. The company has a quick ratio of 0.15, a current ratio of 0.76 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $85.83 and its two-hundred day moving average is $85.47. BJ’s Wholesale Club has a fifty-two week low of $63.73 and a fifty-two week high of $97.53.

BJ’s Wholesale Club (NYSE:BJ) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.15 billion. BJ’s Wholesale Club had a net margin of 2.71% and a return on equity of 35.41%. BJ’s Wholesale Club’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. Analysts forecast that BJ’s Wholesale Club will post 3.9 earnings per share for the current year.

Insider Buying and Selling

In other BJ’s Wholesale Club news, CEO Robert W. Eddy sold 11,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.40, for a total transaction of $873,400.00. Following the transaction, the chief executive officer now directly owns 445,792 shares in the company, valued at approximately $35,395,884.80. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 33,000 shares of company stock worth $2,734,820 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On BJ’s Wholesale Club

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BJ. Anchor Investment Management LLC lifted its stake in BJ’s Wholesale Club by 47.3% in the third quarter. Anchor Investment Management LLC now owns 2,037 shares of the company’s stock valued at $168,000 after buying an additional 654 shares in the last quarter. TD Private Client Wealth LLC lifted its position in BJ’s Wholesale Club by 1.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 18,120 shares of the company’s stock valued at $1,495,000 after acquiring an additional 337 shares in the last quarter. Neo Ivy Capital Management bought a new position in BJ’s Wholesale Club during the 3rd quarter worth about $828,000. Coldstream Capital Management Inc. raised its stake in shares of BJ’s Wholesale Club by 4.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 8,802 shares of the company’s stock valued at $727,000 after purchasing an additional 358 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of BJ’s Wholesale Club by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,215,356 shares of the company’s stock worth $182,770,000 after buying an additional 34,940 shares during the period. Institutional investors own 98.60% of the company’s stock.

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.