Zacks Investment Research Downgrades BJs Wholesale Club (BJ) to Hold
BJs Wholesale Club (NYSE:BJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Several other research firms have also issued reports on BJ. Northcoast Research assumed coverage on BJs Wholesale Club in a research report on Tuesday, September 25th. They set a “buy” rating and a $38.00 price target on the stock. Citigroup started coverage on BJs Wholesale Club in a research note on Tuesday, October 2nd. They set a “buy” rating and a $31.00 price objective for the company. Wells Fargo & Co upgraded BJs Wholesale Club from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $26.00 to $29.00 in a research note on Tuesday. CIBC started coverage on BJs Wholesale Club in a research note on Thursday, October 18th. They set a “market perform” rating for the company. Finally, Oppenheimer started coverage on BJs Wholesale Club in a research note on Wednesday, October 17th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.08.
BJs Wholesale Club (NYSE:BJ) last posted its quarterly earnings results on Tuesday, November 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.16 billion. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that BJs Wholesale Club will post 0.95 earnings per share for the current year.
In related news, SVP William C. Werner sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $24.96, for a total transaction of $998,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Graham Luce sold 23,239 shares of the firm’s stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $24.00, for a total value of $557,736.00. The disclosure for this sale can be found here. In the last three months, insiders sold 145,459 shares of company stock valued at $3,445,004.
A number of hedge funds have recently made changes to their positions in the stock. Amica Retiree Medical Trust bought a new position in BJs Wholesale Club during the third quarter valued at about $114,000. Tower Research Capital LLC TRC bought a new position in BJs Wholesale Club during the third quarter valued at about $169,000. Strs Ohio boosted its stake in BJs Wholesale Club by 57.6% during the fourth quarter. Strs Ohio now owns 19,700 shares of the company’s stock valued at $436,000 after buying an additional 7,200 shares in the last quarter. Janus Henderson Group PLC boosted its stake in BJs Wholesale Club by 20.0% during the third quarter. Janus Henderson Group PLC now owns 60,000 shares of the company’s stock valued at $1,607,000 after buying an additional 10,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in BJs Wholesale Club during the second quarter valued at about $280,000. 82.93% of the stock is owned by institutional investors and hedge funds.
About BJs Wholesale Club
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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