BJ’s Wholesale Club (NYSE:BJ) Posts Earnings Results, Beats Expectations By $0.03 EPS

BJ’s Wholesale Club (NYSE:BJ) issued its quarterly earnings results on Friday. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03, MarketWatch Earnings reports. BJ’s Wholesale Club had a return on equity of 47.80% and a net margin of 2.61%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. BJ’s Wholesale Club updated its FY24 guidance to $3.80-3.92 EPS.

BJ’s Wholesale Club Price Performance

NYSE BJ opened at $64.35 on Friday. BJ’s Wholesale Club has a 1 year low of $60.33 and a 1 year high of $78.88. The business’s fifty day moving average is $69.75 and its two-hundred day moving average is $67.17. The stock has a market capitalization of $8.61 billion, a P/E ratio of 17.30, a P/E/G ratio of 3.16 and a beta of 0.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.12 and a current ratio of 0.71.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BJ. The Goldman Sachs Group lowered BJ’s Wholesale Club from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $73.00 in a research report on Tuesday, October 17th. Credit Suisse Group reduced their price objective on BJ’s Wholesale Club from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Gordon Haskett upgraded BJ’s Wholesale Club from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Bank of America reduced their price target on BJ’s Wholesale Club from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered BJ’s Wholesale Club from a “buy” rating to a “hold” rating and reduced their price target for the stock from $79.00 to $71.00 in a research report on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, BJ’s Wholesale Club presently has a consensus rating of “Hold” and an average price target of $72.33.

Insider Activity

In other news, EVP William C. Werner sold 890 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $72.47, for a total transaction of $64,498.30. Following the completion of the sale, the executive vice president now owns 29,357 shares in the company, valued at approximately $2,127,501.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP William C. Werner sold 890 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $72.47, for a total transaction of $64,498.30. Following the completion of the sale, the executive vice president now owns 29,357 shares in the company, valued at approximately $2,127,501.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeff Desroches sold 33,934 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $68.88, for a total transaction of $2,337,373.92. Following the sale, the executive vice president now directly owns 80,882 shares in the company, valued at $5,571,152.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,653 shares of company stock worth $8,306,084. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BJ’s Wholesale Club

Hedge funds have recently modified their holdings of the stock. Fortis Capital Advisors LLC acquired a new position in shares of BJ’s Wholesale Club in the fourth quarter worth $46,000. Point72 Hong Kong Ltd acquired a new position in shares of BJ’s Wholesale Club in the first quarter worth $50,000. CENTRAL TRUST Co acquired a new position in shares of BJ’s Wholesale Club in the third quarter worth $70,000. State of Wyoming increased its stake in shares of BJ’s Wholesale Club by 107.1% in the fourth quarter. State of Wyoming now owns 1,860 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares during the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in shares of BJ’s Wholesale Club in the first quarter worth $141,000. 98.60% of the stock is owned by institutional investors and hedge funds.

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 perishable, general merchandise, gasoline, coupon books, promotions, and other ancillary services. The company sells its products through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, as well as the mobile app.