Wellington Shields Capital Management LLC acquired a new stake in shares of Burlington Stores Inc (NYSE:BURL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,500 shares of the company’s stock, valued at approximately $244,000.
A number of other hedge funds have also recently bought and sold shares of the business. Synovus Financial Corp grew its holdings in shares of 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 purchasing an additional 465 shares during the last quarter. Hexavest Inc. bought a new position in shares of Burlington Stores in the third quarter worth about $109,000. Harvest Fund Management Co. Ltd bought a new position in shares of Burlington Stores in the third quarter worth about $194,000. Comerica Securities Inc. bought a new position in shares of Burlington Stores in the third quarter worth about $200,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Burlington Stores in the second quarter worth about $219,000.
A number of research firms have recently commented on BURL. Wedbush cut shares of Burlington Stores from an “outperform” rating to a “neutral” rating and set a $175.00 price target on the stock. in a report on Friday, November 2nd. SunTrust Banks upped their price target on shares of Burlington Stores to $189.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Goldman Sachs Group began coverage on shares of Burlington Stores in a report on Monday, September 3rd. They issued a “neutral” rating and a $179.00 price target on the stock. MKM Partners set a $174.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a report on Friday, August 31st. Finally, Telsey Advisory Group upped their price target on shares of Burlington Stores from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $172.75.
In other Burlington Stores news, insider Fred Hand sold 4,071 shares of the stock in a transaction dated Tuesday, September 4th. The shares were 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 directly owns 68,203 shares of the company’s stock, valued at $11,759,561.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $151.09, for a total transaction of $3,021,800.00. Following the sale, the chief executive officer now directly owns 322,973 shares of the company’s stock, valued at $48,797,990.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,413 shares of company stock worth $13,821,120. 1.91% of the stock is owned by company insiders.
Shares of Burlington Stores stock opened at $172.12 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 7.54. Burlington Stores Inc has a 1 year low of $96.24 and a 1 year high of $177.88. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 1.32 and a beta of 0.37.
Burlington Stores (NYSE:BURL) last issued 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 company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the business earned $0.72 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts forecast that Burlington Stores Inc will post 6.23 earnings per share for the current fiscal year.
About Burlington Stores
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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