Meeder Asset Management Inc. cut its stake in Burlington Stores Inc (NYSE:BURL) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,966 shares of the company’s stock after selling 289 shares during the period. Meeder Asset Management Inc.’s holdings in Burlington Stores were worth $320,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Synovus Financial Corp increased its position in Burlington Stores by 244.7% in the third quarter. Synovus Financial Corp now owns 655 shares of the company’s stock worth $106,000 after buying an additional 465 shares during the period. Hexavest Inc. acquired a new stake in Burlington Stores in the third quarter worth $109,000. Harvest Fund Management Co. Ltd acquired a new stake in Burlington Stores in the third quarter worth $194,000. Comerica Securities Inc. acquired a new stake in Burlington Stores in the third quarter worth $200,000. Finally, Veritable L.P. acquired a new stake in Burlington Stores in the third quarter worth $223,000.
Shares of BURL stock opened at $168.25 on Wednesday. Burlington Stores Inc has a fifty-two week low of $109.62 and a fifty-two week high of $180.27. The stock has a market cap of $11.42 billion, a P/E ratio of 38.50, a PEG ratio of 1.28 and a beta of 0.35. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 5.63.
Burlington Stores (NYSE:BURL) last announced its earnings results on Wednesday, November 28th. The company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.15. Burlington Stores had a return on equity of 293.30% and a net margin of 7.12%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts predict that Burlington Stores Inc will post 6.38 EPS for the current fiscal year.
In related news, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $157.09, for a total transaction of $3,141,800.00. Following the completion of the transaction, the chief executive officer now owns 317,473 shares of the company’s stock, valued at $49,871,833.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marc Katz sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $173.00, for a total value of $1,297,500.00. Following the transaction, the chief financial officer now directly owns 107,757 shares of the company’s stock, valued at approximately $18,641,961. The disclosure for this sale can be found here. Insiders have sold 90,513 shares of company stock valued at $14,970,803 in the last ninety days. Company insiders own 1.91% of the company’s stock.
A number of research analysts have recently commented on BURL shares. Zacks Investment Research lowered Burlington Stores from a “buy” rating to a “hold” rating and set a $193.00 price target on the stock. in a report on Monday, November 12th. Bank of America raised their price target on Burlington Stores from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, November 14th. Cowen set a $195.00 price target on Burlington Stores and gave the company a “buy” rating in a report on Wednesday, November 28th. MKM Partners set a $174.00 price target on Burlington Stores and gave the company a “buy” rating in a report on Wednesday, November 28th. Finally, Citigroup raised their price target on Burlington Stores from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, November 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $177.75.
Burlington Stores Profile
Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company offers fashion-focused merchandise, including women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, coats, and gifts, as well as baby, home, and beauty products. As of February 3, 2018, it operated 629 stores, including an Internet store in 45 states and Puerto Rico.
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