BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) Stock Position Reduced by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in shares of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,015 shares of the company’s stock after selling 700 shares during the period. State of Michigan Retirement System’s holdings in BJ’s Wholesale Club were worth $2,812,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new stake in BJ’s Wholesale Club in the fourth quarter worth $5,745,000. GAMMA Investing LLC acquired a new position in BJ’s Wholesale Club in the 4th quarter valued at $88,000. Russell Investments Group Ltd. raised its holdings in BJ’s Wholesale Club by 46.0% in the 4th quarter. Russell Investments Group Ltd. now owns 54,043 shares of the company’s stock worth $3,603,000 after acquiring an additional 17,024 shares during the period. Norden Group LLC lifted its position in BJ’s Wholesale Club by 7.6% during the 4th quarter. Norden Group LLC now owns 12,732 shares of the company’s stock worth $849,000 after acquiring an additional 901 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in BJ’s Wholesale Club by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,136,282 shares of the company’s stock valued at $342,385,000 after acquiring an additional 590,113 shares during the period. 98.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BJ has been the subject of several research analyst reports. Gordon Haskett raised BJ’s Wholesale Club from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday, May 23rd. Barclays increased their price objective on BJ’s Wholesale Club from $72.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 24th. Evercore ISI boosted their target price on shares of BJ’s Wholesale Club from $86.00 to $89.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. Loop Capital upped their target price on shares of BJ’s Wholesale Club from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, July 11th. 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.07.

BJ’s Wholesale Club Price Performance

NYSE:BJ opened at $81.87 on Wednesday. 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 firm has a market cap of $10.86 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 3.12 and a beta of 0.23. BJ’s Wholesale Club Holdings, Inc. has a 12 month low of $63.08 and a 12 month high of $92.37. The company’s 50-day moving average price is $87.25 and its two-hundred day moving average price is $80.92.

BJ’s Wholesale Club (NYSE:BJ) last announced its earnings results on Thursday, August 22nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. BJ’s Wholesale Club had a return on equity of 37.78% and a net margin of 2.59%. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the business earned $0.97 EPS. BJ’s Wholesale Club’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that BJ’s Wholesale Club Holdings, Inc. will post 3.91 EPS for the current fiscal year.

Insider Activity

In other BJ’s Wholesale Club news, EVP Jeff Desroches sold 14,106 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 87,294 shares in the company, valued at approximately $7,507,284. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BJ’s Wholesale Club news, EVP Jeff Desroches sold 14,106 shares of the stock in a transaction on Friday, May 31st. The stock was 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 directly owns 87,294 shares in the company, valued at approximately $7,507,284. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Graham Luce sold 16,596 shares of BJ’s Wholesale Club stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $91.15, for a total value of $1,512,725.40. Following the completion of the sale, the executive vice president now directly owns 14,131 shares of the company’s stock, valued at $1,288,040.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,544 shares of company stock worth $7,237,084. 2.00% of the stock is owned by corporate insiders.

BJ’s Wholesale Club 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.