Eagle Asset Management Inc. cut its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 27.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,926 shares of the company’s stock after selling 400,859 shares during the period. Eagle Asset Management Inc. owned about 1.54% of Burlington Stores worth $98,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of Burlington Stores by 54.6% in the first quarter. Nisa Investment Advisors LLC now owns 3,710 shares of the company’s stock valued at $361,000 after buying an additional 1,310 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Burlington Stores by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 17,300 shares of the company’s stock valued at $1,682,000 after buying an additional 1,300 shares in the last quarter. 361 Capital LLC raised its stake in shares of Burlington Stores by 13.2% in the first quarter. 361 Capital LLC now owns 10,225 shares of the company’s stock valued at $995,000 after buying an additional 1,193 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Burlington Stores by 1.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,474 shares of the company’s stock valued at $7,732,000 after buying an additional 981 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Burlington Stores by 41.2% in the first quarter. Algert Global LLC now owns 13,591 shares of the company’s stock valued at $1,322,000 after buying an additional 3,966 shares in the last quarter.

Shares of Burlington Stores, Inc. (NYSE BURL) traded down 0.599% during trading on Thursday, hitting $85.435. The stock had a trading volume of 193,274 shares. Burlington Stores, Inc. has a one year low of $68.94 and a one year high of $104.07. The stock’s 50-day moving average price is $86.38 and its 200 day moving average price is $92.22. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 23.601 and a beta of 0.51.

Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.22. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. On average, equities analysts forecast that Burlington Stores, Inc. will post $4.20 EPS for the current year.

Burlington Stores declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 24th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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Several analysts recently weighed in on BURL shares. BMO Capital Markets set a $96.00 price objective on Burlington Stores and gave the company a “buy” rating in a report on Friday, May 26th. Bank of America Corporation upped their target price on Burlington Stores from $110.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Morgan Stanley lowered their target price on Burlington Stores from $105.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, May 30th. Citigroup Inc. lowered their target price on Burlington Stores from $100.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th. Finally, MKM Partners reaffirmed a “buy” rating and set a $108.00 target price (up from $104.00) on shares of Burlington Stores in a report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $105.59.

In related news, insider Joyce Manning Magrini sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $93.05, for a total transaction of $310,135.65. Following the completion of the transaction, the insider now directly owns 56,882 shares in the company, valued at approximately $5,292,870.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marc Katz sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $87.25, for a total transaction of $959,750.00. Following the transaction, the chief financial officer now owns 124,555 shares of the company’s stock, valued at $10,867,423.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,168 shares of company stock valued at $6,264,241. 2.60% of the stock is owned by corporate insiders.

About Burlington Stores

Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.

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Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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