BJs Wholesale Club (BJ) Downgraded by Zacks Investment Research

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BJs Wholesale Club (NYSE:BJ) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “BJ’s Wholesale Club Holdings, Inc. is an operator of membership warehouse clubs primarily in the Eastern United States. The company operates clubs and BJ’s Gas(R) locations in states. It provides shopping destination which includes exclusive Wellsley Farms(R) and Berkley Jensen(R) brands, along with USDA Choice meats, premium produce and delicious organics. BJ’s Wholesale Club Holdings, Inc. is based in WESTBOROUGH, Mass. “

BJ has been the subject of several other research reports. Evercore ISI assumed coverage on shares of BJs Wholesale Club in a report on Wednesday, March 20th. They issued an “outperform” rating and a $30.00 target price for the company. Wells Fargo & Co raised their target price on shares of BJs Wholesale Club from $29.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, March 29th. Barclays assumed coverage on shares of BJs Wholesale Club in a report on Friday, February 1st. They issued an “equal weight” rating for the company. Citigroup raised their target price on shares of BJs Wholesale Club from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Gordon Haskett upgraded shares of BJs Wholesale Club from an “accumulate” rating to a “buy” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. BJs Wholesale Club presently has an average rating of “Hold” and an average price target of $30.43.

BJ stock traded up $0.51 during trading on Monday, hitting $26.66. 2,021,994 shares of the company’s stock traded hands, compared to its average volume of 1,192,672. BJs Wholesale Club has a 52 week low of $19.31 and a 52 week high of $32.92. The firm has a market capitalization of $3.70 billion and a P/E ratio of 23.39.

BJs Wholesale Club (NYSE:BJ) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. BJs Wholesale Club had a net margin of 1.14% and a negative return on equity of 64.63%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.12 billion. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts anticipate that BJs Wholesale Club will post 1.48 EPS for the current fiscal year.

In related news, major shareholder Cvc European Equity V. Ltd sold 9,775,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.58, for a total value of $240,269,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lee Delaney sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $25.87, for a total transaction of $258,700.00. The disclosure for this sale can be found here. Insiders sold a total of 10,240,551 shares of company stock worth $253,069,037 in the last ninety days. 17.70% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of BJ. Clearbridge Investments LLC increased its position in BJs Wholesale Club by 74.9% during the 1st quarter. Clearbridge Investments LLC now owns 4,107,167 shares of the company’s stock valued at $112,536,000 after purchasing an additional 1,759,303 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in shares of BJs Wholesale Club in the 1st quarter worth approximately $238,000. Metropolitan Life Insurance Co NY grew its position in shares of BJs Wholesale Club by 73.1% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 40,027 shares of the company’s stock worth $1,096,000 after buying an additional 16,907 shares during the last quarter. FMR LLC grew its position in shares of BJs Wholesale Club by 0.7% in the 1st quarter. FMR LLC now owns 20,674,569 shares of the company’s stock worth $566,483,000 after buying an additional 149,164 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of BJs Wholesale Club by 82.9% in the 1st quarter. Jane Street Group LLC now owns 53,487 shares of the company’s stock worth $1,466,000 after buying an additional 24,241 shares during the last quarter. 89.00% of the stock is currently owned by institutional investors.

About BJs Wholesale Club

BJ's Wholesale Club Holdings, Inc operates as a warehouse club on the East Coast of the United States. It offers perishable, edible grocery, general merchandise, and non-edible grocery products. The company also sells electronics, computers, office supplies and equipment, home products, health and beauty aids, sporting goods, outdoor living, baby products, toys, and jewelry through Website.

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Analyst Recommendations for BJs Wholesale Club (NYSE:BJ)

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