TD Cowen Boosts BJ’s Wholesale Club (NYSE:BJ) Price Target to $110.00

BJ’s Wholesale Club (NYSE:BJ) had its price target increased by research analysts at TD Cowen from $95.00 to $110.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 14.04% from the company’s current price.

Several other brokerages have also weighed in on BJ. Bank of America lowered their price objective on BJ’s Wholesale Club from $95.00 to $90.00 and set a “buy” rating for the company 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 increased their price target for the stock from $76.00 to $78.00 in a report on Monday, August 26th. Melius Research assumed coverage on shares of BJ’s Wholesale Club in a report on Monday, September 23rd. They issued a “buy” rating and a $90.00 price objective on the stock. Morgan Stanley increased their target price on shares of BJ’s Wholesale Club from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Roth Mkm boosted their price target on shares of BJ’s Wholesale Club from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.81.

BJ’s Wholesale Club Trading Up 4.0 %

Shares of BJ traded up $3.67 during midday trading on Friday, reaching $96.46. The company had a trading volume of 1,254,680 shares, compared to its average volume of 1,491,467. The firm has a 50 day simple moving average of $85.52 and a 200-day simple moving average of $85.20. The company has a quick ratio of 0.15, a current ratio of 0.76 and a debt-to-equity ratio of 0.24. The stock has a market cap of $12.79 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 4.19 and a beta of 0.24. BJ’s Wholesale Club has a 1-year low of $63.73 and a 1-year high of $96.91.

BJ’s Wholesale Club (NYSE:BJ) last issued its earnings results on Thursday, August 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.15 billion. BJ’s Wholesale Club had a net margin of 2.62% and a return on equity of 36.12%. BJ’s Wholesale Club’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 earnings per share. Research analysts forecast that BJ’s Wholesale Club will post 3.84 EPS for the current fiscal year.

Insider Activity

In other news, SVP Joseph Mcgrail sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $83.57, for a total transaction of $83,570.00. Following the sale, the senior vice president now owns 13,566 shares of the company’s stock, valued at approximately $1,133,710.62. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert W. Eddy sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.40, for a total value of $873,400.00. Following the completion of the transaction, the chief executive officer now directly owns 445,792 shares of the company’s stock, valued at $35,395,884.80. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,000 shares of company stock worth $2,818,390. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of BJ’s Wholesale Club

Several institutional investors have recently modified their holdings of BJ. FMR LLC boosted its position in shares of BJ’s Wholesale Club by 7.2% in the 3rd quarter. FMR LLC now owns 14,357,118 shares of the company’s stock valued at $1,184,175,000 after purchasing an additional 966,528 shares during the period. Victory Capital Management Inc. grew its position in shares of BJ’s Wholesale Club by 3.5% during the third quarter. Victory Capital Management Inc. now owns 6,439,358 shares of the company’s stock worth $531,118,000 after acquiring an additional 217,385 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of BJ’s Wholesale Club by 158.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,189,932 shares of the company’s stock valued at $368,044,000 after acquiring an additional 2,571,709 shares during the period. State Street Corp raised its position in BJ’s Wholesale Club by 1.1% in the 3rd quarter. State Street Corp now owns 4,045,590 shares of the company’s stock valued at $333,680,000 after purchasing an additional 45,288 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in BJ’s Wholesale Club by 60.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,387,592 shares of the company’s stock worth $196,929,000 after purchasing an additional 896,263 shares during the last quarter. Hedge funds and other 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.