Bank of America Trims BJ’s Wholesale Club (NYSE:BJ) Target Price to $85.00

BJ’s Wholesale Club (NYSE:BJ – Get Rating) had its price objective reduced by Bank of America from $87.00 to $85.00 in a report released on Tuesday, The Fly reports.

BJ has been the subject of a number of other research reports. Barclays boosted their target price on shares of BJ’s Wholesale Club from $24.00 to $25.00 in a research note on Tuesday, February 21st. Morgan Stanley lifted their target price on shares of BJ’s Wholesale Club from $76.00 to $77.00 and gave the company an equal weight rating in a report on Friday, March 10th. Roth Capital reissued a neutral rating on shares of BJ’s Wholesale Club in a research report on Friday, March 10th. Credit Suisse Group upped their price target on shares of BJ’s Wholesale Club from $75.00 to $80.00 and gave the stock a neutral rating in a research note on Friday, March 10th. Finally, Robert W. Baird boosted their price target on shares of BJ’s Wholesale Club from $85.00 to $90.00 in a report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $74.25.

BJ’s Wholesale Club Price Performance

Shares of BJ’s Wholesale Club stock opened at $62.77 on Tuesday. The company has a quick ratio of 0.13, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.76 and a beta of 0.48. BJ’s Wholesale Club has a 52 week low of $55.07 and a 52 week high of $80.41. The stock’s 50-day simple moving average is $74.00 and its 200-day simple moving average is $72.57.

BJ’s Wholesale Club (NYSE:BJ – Get Rating) last announced its quarterly earnings data on Tuesday, May 23rd. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.81 billion. BJ’s Wholesale Club had a return on equity of 53.66% and a net margin of 2.64%. BJ’s Wholesale Club’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, analysts expect that BJ’s Wholesale Club will post 3.94 earnings per share for the current fiscal year.

Insider Activity at BJ’s Wholesale Club

In other news, EVP Jeff Desroches sold 7,059 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $77.09, for a total value of $544,178.31. Following the completion of the transaction, the executive vice president now directly owns 84,822 shares of the company’s stock, valued at approximately $6,538,927.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BJ’s Wholesale Club

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of BJ’s Wholesale Club by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,614,836 shares of the company’s stock worth $991,297,000 after purchasing an additional 125,697 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of BJ’s Wholesale Club by 1.2% during the first quarter. BlackRock Inc. now owns 12,142,318 shares of the company’s stock worth $923,666,000 after purchasing an additional 139,425 shares during the last quarter. Putnam Investments LLC boosted its holdings in shares of BJ’s Wholesale Club by 1.3% during the third quarter. Putnam Investments LLC now owns 5,184,066 shares of the company’s stock worth $377,451,000 after purchasing an additional 67,057 shares during the last quarter. State Street Corp raised its position in shares of BJ’s Wholesale Club by 3.4% in the 1st quarter. State Street Corp now owns 4,445,807 shares of the company’s stock worth $300,581,000 after buying an additional 147,014 shares during the period. Finally, Morgan Stanley raised its position in shares of BJ’s Wholesale Club by 180.8% in the 4th quarter. Morgan Stanley now owns 2,615,939 shares of the company’s stock worth $173,071,000 after buying an additional 1,684,174 shares during the period. Institutional investors and hedge funds own 93.72% of the company’s stock.

BJ’s Wholesale Club Company Profile

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BJ’s Wholesale Club Holdings, Inc engages in the operation of membership warehouse clubs. Its product categories include grocery, household and pet, television and electronics, furniture, computer and tablets, patio and outdoor living, lawn and garden, baby and kids, toys, home, health and beauty, appliances, and jewelry.