BJs Wholesale Club (NYSE:BJ) Shares Gap Up on Better-Than-Expected Earnings

BJs Wholesale Club Holdings Inc (NYSE:BJ)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.85, but opened at $26.42. BJs Wholesale Club shares last traded at $25.38, with a volume of 1,843,691 shares changing hands.

The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.39 billion. BJs Wholesale Club had a net margin of 1.14% and a negative return on equity of 72.36%. BJs Wholesale Club’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share.

A number of equities analysts have recently commented on BJ shares. Morgan Stanley raised their target price on shares of BJs Wholesale Club from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group raised their target price on shares of BJs Wholesale Club from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank raised their target price on shares of BJs Wholesale Club from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday. ValuEngine raised shares of BJs Wholesale Club from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Goldman Sachs Group started coverage on shares of BJs Wholesale Club in a research note on Thursday, July 11th. They issued a “buy” rating and a $29.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.91.

In related news, CEO Christopher J. Baldwin sold 21,377 shares of BJs Wholesale Club stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $26.17, for a total value of $559,436.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Baldwin sold 30,147 shares of BJs Wholesale Club stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $24.73, for a total transaction of $745,535.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,014,271 shares of company stock valued at $221,389,034. 17.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of BJ. William Blair Investment Management LLC acquired a new position in shares of BJs Wholesale Club in the 2nd quarter worth approximately $144,291,000. Invesco Ltd. grew its position in BJs Wholesale Club by 2,391.0% during the second quarter. Invesco Ltd. now owns 2,169,925 shares of the company’s stock valued at $57,286,000 after purchasing an additional 2,082,816 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in BJs Wholesale Club during the second quarter valued at approximately $53,367,000. Victory Capital Management Inc. grew its position in BJs Wholesale Club by 161.0% during the second quarter. Victory Capital Management Inc. now owns 3,135,680 shares of the company’s stock valued at $82,782,000 after purchasing an additional 1,934,470 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in BJs Wholesale Club by 17.1% during the second quarter. Vanguard Group Inc. now owns 12,142,930 shares of the company’s stock valued at $320,574,000 after purchasing an additional 1,774,604 shares in the last quarter. Hedge funds and other institutional investors own 98.74% of the company’s stock.

The stock’s 50-day moving average is $23.72 and its 200 day moving average is $25.71. The stock has a market capitalization of $3.01 billion, a PE ratio of 22.26, a P/E/G ratio of 1.32 and a beta of 1.55.

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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