Daymark Wealth Partners LLC Acquires Additional Shares of BJ's Wholesale Club

Daymark Wealth Partners LLC has increased its investment in BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) by 41.0% during the third quarter of the year, as reported in their latest filing with the Securities and Exchange Commission. Following this purchase, Daymark now holds a total of 3,362 shares in BJ’s Wholesale Club, having acquired an additional 978 shares in that quarter. The value of these holdings was approximately $277,000 at the conclusion of the reporting period.

Other large investors have also made changes to their stakes in BJ’s Wholesale Club in recent months. For instance, Kayne Anderson Rudnick Investment Management LLC significantly increased its position by 158.9% in the second quarter, now owning 4,189,932 shares valued at about $368,044,000, after purchasing an extra 2,571,709 shares during that time. Similarly, Bessemer Group Inc. raised its holdings by 1.8% during the first quarter, now owning 3,118,913 shares valued at approximately $235,946,000 after acquiring an additional 56,442 shares.

Institutional Investor Activity

Principal Financial Group Inc. also expanded its position in BJ’s Wholesale Club by 17.2% in the second quarter, increasing its holdings to 1,624,781 shares valued at approximately $142,721,000 after buying 237,902 more shares. Dimensional Fund Advisors LP increased its stake by 13.6% during the same quarter, now controlling 1,370,144 shares worth about $120,351,000 after purchasing an additional 163,526 shares. Bank of New York Mellon Corp added to its position by 3.9% during the second quarter and now owns 1,126,743 shares valued at approximately $98,973,000 following an acquisition of 42,413 more shares. Notably, institutional investors hold about 98.60% of BJ's Wholesale Club's stock.

Insider Transactions

In terms of insider activity, CEO Robert W. Eddy sold 11,000 shares on August 1st at an average price of $87.60, totaling $963,600. After the transaction, he holds 456,792 shares valued at approximately $40,014,979. Other transactions by insiders included a sale by SVP Joseph Mcgrail of 1,000 shares on August 26th at an average price of $83.57, worth $83,570. After this sale, Mcgrail retains 13,566 shares valued around $1,133,710.62. In total, insiders sold 79,438 shares worth $6,946,288 over the past three months, representing 2.00% of the company's stock currently owned by insiders.

Stock Performance Overview

BJ’s Wholesale Club's stock traded at $86.77 on Friday, with a market capitalization of $11.50 billion. The company has a P/E ratio of 21.91, a PEG ratio of 3.27, and a beta of 0.25. The stock has ranged between a one-year low of $63.08 and a high of $92.37. As of now, the 50-day simple moving average is $82.81, while the 200-day simple moving average is $82.92. Financial ratios include a debt-to-equity ratio of 0.24, a current ratio of 0.76, and a quick ratio of 0.15.

Recently, BJ’s Wholesale Club reported its quarterly earnings on August 22nd, revealing earnings per share (EPS) of $1.09. This exceeded analysts' consensus estimates of $1.00 by $0.09. The company generated revenue of $5.21 billion during this quarter, which also surpassed expectations of $5.15 billion. The net profit margin for the company was 2.62%, accompanied by a return on equity of 36.12%. Compared to the same quarter in the previous year, revenue increased by 4.9%. Analysts predict that for the current fiscal year, BJ’s Wholesale Club will record an EPS of 3.82.

Analysts' Insights

Recently, various analysts have expressed their opinions on BJ’s Wholesale Club's stock. JPMorgan Chase & Co. raised its rating from "underweight" to "neutral" while increasing the target price from $76.00 to $78.00. Roth MKM upgraded its price estimate from $68.00 to $75.00, maintaining a "neutral" rating. Evercore ISI raised their price target from $86.00 to $89.00, labeling it under an "in-line" rating. On the other hand, Bank of America adjusted its target price from $95.00 to $90.00 with a rating of "buy." Melius Research also started coverage on the stock, setting a "buy" rating and a target price of $90.00. Overall, seven analysts regard the stock as a hold, while nine suggested it as a buy. Current consensus ratings show a "Moderate Buy" with a price target averaging around $86.31.

About BJ's Wholesale Club

BJ's Wholesale Club Holdings, Inc. operates warehouse clubs primarily in the eastern United States, offering a range of products including groceries, general merchandise, and gasoline. Customers can shop through various platforms, including BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, along with a mobile app.

Investment, Shares, Acquisition