BJ’s Wholesale Club (NYSE:BJ) Sees Unusually-High Trading Volume After Strong Earnings

Shares of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 849,910 shares changed hands during mid-day trading, a decline of 51% from the previous session’s volume of 1,742,766 shares.The stock last traded at $65.54 and had previously closed at $67.60.

The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.90 billion. BJ’s Wholesale Club had a net margin of 2.61% and a return on equity of 47.80%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BJ shares. UBS Group dropped their price target on shares of BJ’s Wholesale Club from $83.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. TD Cowen started coverage on shares of BJ’s Wholesale Club in a research note on Thursday, September 14th. They set an “outperform” rating and a $80.00 target price for the company. Evercore ISI lifted their target price on shares of BJ’s Wholesale Club from $68.00 to $69.00 and gave the stock an “in-line” rating in a research note on Friday, September 8th. Bank of America lowered their target price on shares of BJ’s Wholesale Club from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Finally, Loop Capital lowered their target price on shares of BJ’s Wholesale Club from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.00.

Insider Buying and Selling

In related news, EVP Jeff Desroches sold 33,934 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 80,882 shares in the company, valued at $5,571,152.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BJ’s Wholesale Club news, EVP Jeff Desroches sold 33,934 shares of BJ’s Wholesale Club stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $68.88, for a total value of $2,337,373.92. Following the sale, the executive vice president now owns 80,882 shares of the company’s stock, valued at $5,571,152.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert W. Eddy sold 11,965 shares of BJ’s Wholesale Club stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $70.04, for a total transaction of $838,028.60. Following the completion of the sale, the chief executive officer now directly owns 238,667 shares in the company, valued at approximately $16,716,236.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,653 shares of company stock worth $8,306,084. 2.20% of the stock is owned by insiders.

Institutional Trading of BJ’s Wholesale Club

Several hedge funds and other institutional investors have recently modified their holdings of BJ. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BJ’s Wholesale Club in the first quarter valued at approximately $268,000. HighTower Advisors LLC increased its holdings in BJ’s Wholesale Club by 44.3% during the 1st quarter. HighTower Advisors LLC now owns 7,180 shares of the company’s stock worth $487,000 after acquiring an additional 2,203 shares during the period. PNC Financial Services Group Inc. increased its holdings in BJ’s Wholesale Club by 104.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,961 shares of the company’s stock worth $741,000 after acquiring an additional 5,607 shares during the period. Bank of Montreal Can increased its holdings in BJ’s Wholesale Club by 7.4% during the 1st quarter. Bank of Montreal Can now owns 12,440 shares of the company’s stock worth $843,000 after acquiring an additional 862 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in BJ’s Wholesale Club by 7.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 74,006 shares of the company’s stock worth $5,143,000 after acquiring an additional 5,272 shares during the period. Institutional investors own 98.60% of the company’s stock.

BJ’s Wholesale Club Stock Down 4.8 %

The stock’s fifty day moving average is $69.75 and its two-hundred day moving average is $67.22. The company has a current ratio of 0.71, a quick ratio of 0.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $8.61 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 3.16 and a beta of 0.37.

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.