Public Employees Retirement System of Ohio Grows Stake in Burlington Stores, Inc. (BURL)
Public Employees Retirement System of Ohio grew its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 43.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146,488 shares of the company’s stock after acquiring an additional 44,034 shares during the period. Public Employees Retirement System of Ohio owned about 0.21% of Burlington Stores worth $13,984,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new position in Burlington Stores in the 3rd quarter worth approximately $114,000. Daiwa Securities Group Inc. bought a new position in Burlington Stores in the 3rd quarter worth approximately $143,000. Advisor Group Inc. boosted its holdings in Burlington Stores by 9.2% in the 2nd quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after buying an additional 128 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Burlington Stores by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after buying an additional 210 shares during the period. Finally, Vident Investment Advisory LLC bought a new position in Burlington Stores in the 3rd quarter worth approximately $230,000.
Several research firms recently commented on BURL. Cowen set a $132.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a report on Monday, December 11th. Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Monday, November 27th. BMO Capital Markets set a $120.00 price target on shares of Burlington Stores and gave the company a “buy” rating in a report on Wednesday, November 22nd. Morgan Stanley raised their price target on shares of Burlington Stores from $107.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 22nd. Finally, SunTrust Banks raised their price target on shares of Burlington Stores from $109.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Burlington Stores has an average rating of “Buy” and an average target price of $110.49.
Burlington Stores, Inc. (NYSE:BURL) opened at $115.82 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 1.02 and a debt-to-equity ratio of -11.71. Burlington Stores, Inc. has a fifty-two week low of $79.07 and a fifty-two week high of $116.56. The company has a market cap of $7,613.05, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. Burlington Stores had a net margin of 4.61% and a negative return on equity of 374.86%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. equities research analysts anticipate that Burlington Stores, Inc. will post 4.28 earnings per share for the current year.
Burlington Stores declared that its Board of Directors has approved a share repurchase program on Thursday, August 24th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Burlington Stores Company Profile
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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