Corebridge Financial Inc. Lowers Stake in BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ)

Corebridge Financial Inc. cut its stake in BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,020 shares of the company’s stock after selling 6,908 shares during the period. Corebridge Financial Inc. owned about 0.11% of BJ’s Wholesale Club worth $13,404,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BJ. Envestnet Portfolio Solutions Inc. lifted its stake in BJ’s Wholesale Club by 0.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,003 shares of the company’s stock worth $1,787,000 after purchasing an additional 105 shares during the last quarter. Lifestyle Asset Management Inc. lifted its position in BJ’s Wholesale Club by 0.8% in the 4th quarter. Lifestyle Asset Management Inc. now owns 13,329 shares of the company’s stock worth $1,191,000 after buying an additional 108 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in BJ’s Wholesale Club by 0.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 15,146 shares of the company’s stock worth $1,353,000 after buying an additional 111 shares in the last quarter. Venturi Wealth Management LLC grew its position in BJ’s Wholesale Club by 4.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,983 shares of the company’s stock valued at $267,000 after acquiring an additional 132 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its stake in shares of BJ’s Wholesale Club by 2.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 5,262 shares of the company’s stock worth $470,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 98.60% of the company’s stock.

BJ’s Wholesale Club Trading Down 1.2 %

Shares of BJ opened at $109.45 on Wednesday. BJ’s Wholesale Club Holdings, Inc. has a 1-year low of $71.81 and a 1-year high of $118.40. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 4.50 and a beta of 0.28. The firm’s 50-day moving average price is $103.87 and its 200-day moving average price is $94.22. The company has a current ratio of 0.76, a quick ratio of 0.14 and a debt-to-equity ratio of 0.23.

BJ’s Wholesale Club (NYSE:BJ) last posted its earnings results on Thursday, March 6th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.29 billion. BJ’s Wholesale Club had a return on equity of 35.41% and a net margin of 2.71%. Sell-side analysts anticipate that BJ’s Wholesale Club Holdings, Inc. will post 3.96 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BJ. Morgan Stanley upped their price objective on shares of BJ’s Wholesale Club from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Robert W. Baird raised their price objective on BJ’s Wholesale Club from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Cowen reiterated a “buy” rating on shares of BJ’s Wholesale Club in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on BJ’s Wholesale Club from $87.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Finally, Loop Capital lifted their price target on BJ’s Wholesale Club from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, March 7th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.71.

Insiders Place Their Bets

In other BJ’s Wholesale Club news, EVP William C. Werner sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $110.41, for a total transaction of $2,208,200.00. Following the completion of the transaction, the executive vice president now owns 31,308 shares of the company’s stock, valued at approximately $3,456,716.28. This trade represents a 38.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Allan Steele sold 11,813 shares of BJ’s Wholesale Club stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $107.59, for a total transaction of $1,270,960.67. Following the transaction, the director now owns 24,351 shares of the company’s stock, valued at $2,619,924.09. The trade was a 32.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

About BJ’s Wholesale Club

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.