Invesco Boosts Stake in BJ’s Wholesale Club by 30.6% in Q2

Invesco Ltd. has significantly increased its holdings in BJ’s Wholesale Club Holdings, Inc. by 30.6% during the second quarter of 2023. According to the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC), Invesco now owns 1,771,213 shares of BJ’s stock, having acquired an additional 414,922 shares during this period. This investment positions Invesco’s stake in the company at a value of approximately $190.99 million.

Several other institutional investors have also made significant moves regarding BJ’s Wholesale Club. Notably, Norges Bank purchased a new stake in the company worth $178.95 million during the same quarter. Select Equity Group L.P. expanded its holdings by an impressive 1,230.1% in the first quarter, now owning 1,739,337 shares valued at $198.46 million. Similarly, Wellington Management Group LLP increased its position by 449.6%, holding 1,126,001 shares worth $128.48 million after acquiring an additional 921,139 shares.

Another notable increase came from Arrowstreet Capital Limited Partnership, which boosted its stake in BJ’s by an astonishing 4,711.7%, now owning 925,002 shares valued at $99.74 million. Additionally, AQR Capital Management LLC raised its holdings by 195.6%, with 1,198,084 shares now valued at $136.02 million.

Institutional investors collectively own 98.60% of BJ’s Wholesale Club stock.

Stock Performance and Analyst Ratings

BJ’s Wholesale Club shares opened at $91.36 on Monday, reflecting a debt-to-equity ratio of 0.18, a quick ratio of 0.16, and a current ratio of 0.79. The stock has shown considerable volatility, with a fifty-two week low of $86.68 and a high of $121.10. The company’s market capitalization stands at $11.95 billion, with a price-to-earnings (PE) ratio of 21.05 and a PEG ratio of 2.51.

Wall Street analysts have mixed sentiments regarding BJ’s stock. Wells Fargo & Company recently lowered its target price from $120.00 to $105.00, maintaining an “overweight” rating. Meanwhile, Cowen reaffirmed a “buy” rating, and Jefferies Financial Group also reiterated a “buy” rating. According to data from MarketBeat.com, BJ’s Wholesale Club has a consensus rating of “Moderate Buy” with an average target price of $111.67.

Insider Activity

In related news, executive vice president Graham Luce sold 6,300 shares on September 17, 2023, at an average price of $99.86, totaling approximately $629,118. Following this transaction, Luce’s ownership decreased by 35.16%, leaving him with 11,617 shares valued at around $1.16 million.

CEO Robert W. Eddy also made headlines by selling 17,898 shares on November 3, 2023, at an average price of $89.71, amounting to about $1.61 million. Post-sale, Eddy holds 296,735 shares valued at approximately $26.62 million, reflecting a 5.69% decrease in his stake.

Corporate insiders currently own 1.40% of BJ’s Wholesale Club stock.

BJ’s Wholesale Club Holdings, Inc. operates membership warehouse clubs, offering a diverse range of products including groceries, household goods, electronics, and more. The company continues to navigate a competitive retail landscape, underscoring the importance of strategic investments and shareholder confidence.