Wells Fargo & Co Raises BJs Wholesale Club (BJ) Price Target to $32.00

BJs Wholesale Club (NYSE:BJ) had its price objective increased by equities researchers at Wells Fargo & Co from $29.00 to $32.00 in a research note issued to investors on Friday, March 29th, The Fly reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price objective indicates a potential upside of 12.12% from the company’s current price.

A number of other equities analysts also recently issued reports on BJ. Nomura cut their price target on shares of BJs Wholesale Club from $29.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Gordon Haskett upgraded shares of BJs Wholesale Club from an “accumulate” rating to a “buy” rating in a report on Thursday, March 21st. Barclays assumed coverage on shares of BJs Wholesale Club in a report on Friday, February 1st. They set an “equal weight” rating for the company. Zacks Investment Research downgraded shares of BJs Wholesale Club from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, Evercore ISI assumed coverage on shares of BJs Wholesale Club in a report on Wednesday, March 20th. They set an “outperform” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. BJs Wholesale Club has a consensus rating of “Buy” and a consensus target price of $30.21.

Shares of BJs Wholesale Club stock traded down $0.17 during trading hours on Friday, hitting $28.54. The company had a trading volume of 765,301 shares, compared to its average volume of 1,193,150. BJs Wholesale Club has a twelve month low of $19.31 and a twelve month high of $32.92. The stock has a market cap of $3.93 billion and a price-to-earnings ratio of 25.04.

BJs Wholesale Club (NYSE:BJ) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.08. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.36 billion. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts expect that BJs Wholesale Club will post 1.48 earnings per share for the current year.

In related news, EVP Brian Poulliot sold 40,000 shares of BJs Wholesale Club stock in a transaction on Monday, January 28th. The shares were sold at an average price of $26.25, for a total value of $1,050,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Kessler sold 20,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,363,588 shares of company stock valued at $255,932,285.

A number of hedge funds have recently added to or reduced their stakes in the business. Tealwood Asset Management Inc. acquired a new stake in BJs Wholesale Club in the first quarter worth about $2,995,000. LGT Capital Partners LTD. acquired a new stake in BJs Wholesale Club in the 4th quarter valued at about $831,000. Luminus Management LLC acquired a new stake in BJs Wholesale Club in the 3rd quarter valued at about $2,009,000. Pentwater Capital Management LP lifted its holdings in BJs Wholesale Club by 64.1% in the 3rd quarter. Pentwater Capital Management LP now owns 105,000 shares of the company’s stock valued at $2,812,000 after acquiring an additional 41,000 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new stake in BJs Wholesale Club in the 3rd quarter valued at about $1,339,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

BJs Wholesale Club Company Profile

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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