Daymark Wealth Partners LLC Increases Stake in BJ’s Wholesale Club

Daymark Wealth Partners LLC has significantly grown its investment in BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ), acquiring 978 additional shares during the third quarter. This purchase varied the firm’s holdings by 41.0%, bringing their total number of shares to 3,362 by the end of the reporting period. The value of their stake in BJ’s Wholesale Club is estimated at $277,000.

In recent months, numerous other institutional investors have also adjusted their stakes in BJ’s Wholesale Club. For instance, Kayne Anderson Rudnick Investment Management LLC increased its position by an impressive 158.9% in the second quarter, now holding 4,189,932 shares valued at approximately $368 million after adding 2,571,709 shares. Similarly, Bessemer Group Inc. raised its holdings by 1.8% during the first quarter, owning 3,118,913 shares with a value of $236 million after purchasing an additional 56,442 shares.

Principal Financial Group Inc. also amplified its investment by 17.2% in the second quarter, now controlling 1,624,781 shares worth about $143 million after a purchase of 237,902 shares. Additionally, Dimensional Fund Advisors LP enhanced their stake by 13.6%, owning 1,370,144 shares valued at $120 million after acquiring an extra 163,526 shares. Furthermore, Bank of New York Mellon Corp augmented its holdings by 3.9%, now owning 1,126,743 shares valued at approximately $99 million after acquiring 42,413 shares. A substantial 98.60% of BJ’s Wholesale Club stock is owned by institutional investors.

Executive Transactions

In other developments, BJ's CEO Robert W. Eddy sold 11,000 shares in a transaction on August 1st at an average price of $87.60, totaling nearly $964,000. Post-sale, he retains 456,792 shares valued at around $40 million, reflecting no change in his overall position percentage-wise. This transaction was officially recorded with the Securities and Exchange Commission (SEC).

Moreover, Senior Vice President Joseph Mcgrail sold 1,000 shares on August 26th at an average price of $83.57, amounting to approximately $83,570. After this sale, Mcgrail now owns 13,566 shares worth around $1.1 million. Recently, insiders have sold a total of 79,438 shares valued at about $6.95 million, while insiders currently hold 2.00% of the stock.

Current Stock Status

On the trading front, BJ’s Wholesale Club shares opened at $86.77, reflecting a market capitalization of $11.50 billion, a P/E ratio of 21.91, a PEG ratio of 3.27, and a beta of 0.25. The stock has fluctuated between a one-year low of $63.08 and a high of $92.37, with the 50-day moving average priced at $82.81 versus a 200-day average of $82.92. The company exhibits a debt-to-equity ratio of 0.24, with current and quick ratios of 0.76 and 0.15, respectively.

BJ’s Wholesale Club recently announced its quarterly earnings on August 22nd, reporting earnings per share (EPS) of $1.09, surpassing analyst expectations of $1.00 by $0.09. The company enjoyed revenue of $5.21 billion, slightly exceeding analyst predictions of $5.15 billion, with a net margin of 2.62% and a return on equity of 36.12%. Year-on-year, revenue grew by 4.9%, as the previous year saw earnings of $0.97 EPS during this quarter.

Analyst Ratings and Price Predictions

Several analysts have recently updated their ratings on BJ’s Wholesale Club. JPMorgan Chase & Co. upgraded its rating from “underweight” to “neutral,” raising the target price from $76.00 to $78.00 on August 26th. Roth MKM adjusted its price objective from $68.00 to $75.00, maintaining a “neutral” rating, while Evercore ISI increased its target from $86.00 to $89.00, giving the company an “in-line” rating. Bank of America reduced its target from $95.00 to $90.00 while rating the stock as “buy.” Lastly, Melius Research initiated coverage with a “buy” rating and a $90.00 target price. The overall consensus shows seven analysts recommending a hold and nine suggesting a buy, leading to a consensus rating of "Moderate Buy" along with a target price of $86.31.

About BJ’s Wholesale Club

BJ's Wholesale Club Holdings, Inc. operates warehouse clubs predominantly on the eastern half of the United States, offering groceries as well as general merchandise, fuel, and ancillary services including coupon books and promotions. Products are available through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com in addition to their mobile app.

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