Sterling Capital Management LLC Reduces Position in Burlington Stores Inc (BURL)
Sterling Capital Management LLC lessened its stake in shares of Burlington Stores Inc (NYSE:BURL) by 38.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,007 shares of the company’s stock after selling 8,122 shares during the period. Sterling Capital Management LLC’s holdings in Burlington Stores were worth $1,958,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in BURL. DekaBank Deutsche Girozentrale acquired a new position in shares of Burlington Stores during the 1st quarter valued at $1,161,000. Mackay Shields LLC acquired a new position in Burlington Stores during the first quarter worth $656,000. Swiss National Bank raised its holdings in Burlington Stores by 1.0% during the first quarter. Swiss National Bank now owns 118,700 shares of the company’s stock worth $15,805,000 after buying an additional 1,200 shares during the last quarter. M&T Bank Corp raised its holdings in Burlington Stores by 12.7% during the first quarter. M&T Bank Corp now owns 4,378 shares of the company’s stock worth $583,000 after buying an additional 494 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Burlington Stores by 1.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 285,537 shares of the company’s stock worth $38,020,000 after buying an additional 3,782 shares during the last quarter.
Several research analysts have weighed in on BURL shares. Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Monday, May 28th. Loop Capital set a $156.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a report on Thursday, May 31st. Telsey Advisory Group upped their price objective on shares of Burlington Stores from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, June 1st. SunTrust Banks restated a “buy” rating and set a $164.00 price objective on shares of Burlington Stores in a report on Friday, June 1st. Finally, Morgan Stanley upped their price objective on shares of Burlington Stores from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $171.05.
Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.19. Burlington Stores had a net margin of 6.85% and a return on equity of 606.69%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. analysts forecast that Burlington Stores Inc will post 6.21 earnings per share for the current fiscal year.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $168.28, for a total value of $3,365,600.00. Following the completion of the sale, the chief executive officer now owns 322,973 shares in the company, valued at approximately $54,349,896.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Fred Hand sold 4,071 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $172.42, for a total transaction of $701,921.82. Following the completion of the sale, the insider now owns 68,203 shares of the company’s stock, valued at approximately $11,759,561.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,271 shares of company stock valued at $13,116,332. Company insiders own 1.91% of the company’s stock.
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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