Nordea Investment Management AB Grows Holdings in Burlington Stores, Inc. (BURL)
Nordea Investment Management AB increased its holdings in shares of Burlington Stores, Inc. (NYSE:BURL) by 18.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,436 shares of the company’s stock after acquiring an additional 3,567 shares during the quarter. Nordea Investment Management AB’s holdings in Burlington Stores were worth $2,237,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BURL. Daiwa Securities Group Inc. bought a new stake in shares of Burlington Stores during the 3rd quarter worth $143,000. Advisor Group Inc. grew its stake in Burlington Stores by 9.2% during the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after purchasing an additional 128 shares during the period. The Manufacturers Life Insurance Company grew its stake in Burlington Stores by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after purchasing an additional 210 shares during the period. Sanders Morris Harris LLC acquired a new stake in Burlington Stores during the third quarter worth approximately $239,000. Finally, Sciencast Management LP acquired a new stake in Burlington Stores during the second quarter worth approximately $231,000.
Several research analysts have issued reports on the company. Cowen reiterated a “buy” rating and issued a $115.00 price target on shares of Burlington Stores in a report on Tuesday, November 21st. Telsey Advisory Group raised their target price on Burlington Stores from $110.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $115.00 target price (up previously from $104.00) on shares of Burlington Stores in a report on Wednesday, November 22nd. SunTrust Banks raised their target price on Burlington Stores from $109.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Finally, Morgan Stanley raised their target price on Burlington Stores from $107.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $109.49.
In other news, insider Fred Hand sold 6,000 shares of Burlington Stores stock in a transaction on Monday, November 27th. The stock was sold at an average price of $102.50, for a total value of $615,000.00. Following the completion of the transaction, the insider now directly owns 71,810 shares in the company, valued at $7,360,525. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joyce Manning Magrini sold 2,400 shares of Burlington Stores stock in a transaction on Friday, December 1st. The shares were sold at an average price of $107.75, for a total value of $258,600.00. Following the completion of the transaction, the executive vice president now owns 45,014 shares of the company’s stock, valued at $4,850,258.50. The disclosure for this sale can be found here. Insiders sold 95,701 shares of company stock valued at $9,091,290 over the last three months. Company insiders own 2.60% of the company’s stock.
Shares of Burlington Stores, Inc. (NYSE:BURL) opened at $108.58 on Thursday. The company has a market capitalization of $7,523.65, a price-to-earnings ratio of 28.05, a P/E/G ratio of 1.48 and a beta of 0.56. Burlington Stores, Inc. has a fifty-two week low of $79.07 and a fifty-two week high of $114.99. The company has a current ratio of 1.02, a quick ratio of 0.22 and a debt-to-equity ratio of -11.71.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Burlington Stores had a negative return on equity of 374.86% and a net margin of 4.61%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company posted $0.51 earnings per share. Burlington Stores’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts anticipate that Burlington Stores, Inc. will post 4.27 EPS for the current fiscal year.
Burlington Stores declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 24th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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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