Artemis Investment Management LLP reduced its stake in Burlington Stores Inc (NYSE:BURL) by 9.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,576 shares of the company’s stock after selling 23,711 shares during the quarter. Artemis Investment Management LLP owned approximately 0.34% of Burlington Stores worth $44,401,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scout Investments Inc. purchased a new stake in shares of Burlington Stores during the 3rd quarter valued at $23,433,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Burlington Stores by 260.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,863 shares of the company’s stock valued at $7,633,000 after purchasing an additional 32,410 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of Burlington Stores during the 2nd quarter valued at $75,000. BlackRock Inc. increased its position in shares of Burlington Stores by 10.8% during the 2nd quarter. BlackRock Inc. now owns 5,161,216 shares of the company’s stock valued at $878,183,000 after purchasing an additional 501,582 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Burlington Stores during the 2nd quarter valued at $19,428,000.
In other Burlington Stores news, insider Fred Hand sold 6,486 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $168.23, for a total value of $1,091,139.78. Following the completion of the transaction, the insider now owns 62,558 shares in the company, valued at approximately $10,524,132.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Thomas Kingsbury sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $41.12, for a total value of $82,240.00. Following the completion of the transaction, the senior vice president now owns 3,092 shares of the company’s stock, valued at approximately $127,143.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,676 shares of company stock valued at $20,135,128. 1.86% of the stock is owned by corporate insiders.
Shares of BURL stock traded up $2.39 on Thursday, hitting $196.59. 13,745 shares of the stock were exchanged, compared to its average volume of 777,147. The company has a current ratio of 0.90, a quick ratio of 0.28 and a debt-to-equity ratio of 9.99. The firm has a market capitalization of $12.82 billion, a PE ratio of 30.46, a P/E/G ratio of 1.69 and a beta of 0.24. Burlington Stores Inc has a one year low of $136.30 and a one year high of $209.36. The firm’s 50 day moving average is $194.04 and its two-hundred day moving average is $173.80.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, August 29th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.21. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. Burlington Stores had a return on equity of 163.50% and a net margin of 6.11%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. On average, sell-side analysts expect that Burlington Stores Inc will post 7.22 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. Loop Capital raised their target price on Burlington Stores from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. ValuEngine lowered Burlington Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on Burlington Stores from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. OTR Global lowered Burlington Stores to a “positive” rating in a research report on Friday, August 9th. Finally, Robert W. Baird set a $215.00 target price on Burlington Stores and gave the company a “buy” rating in a research report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $205.06.
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, toys, and gifts, as well as baby, home, and beauty products.
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