Burlington Stores, Inc. $BURL Stock Position Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 10.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 59,230 shares of the company’s stock after buying an additional 5,477 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Burlington Stores were worth $15,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Burlington Stores in the 2nd quarter worth approximately $171,893,000. Vanguard Group Inc. raised its holdings in Burlington Stores by 3.5% during the third quarter. Vanguard Group Inc. now owns 6,782,201 shares of the company’s stock worth $1,726,070,000 after purchasing an additional 232,358 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Burlington Stores in the second quarter worth approximately $49,702,000. SRS Investment Management LLC boosted its stake in Burlington Stores by 15.9% during the 2nd quarter. SRS Investment Management LLC now owns 1,472,137 shares of the company’s stock valued at $342,478,000 after purchasing an additional 201,716 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Burlington Stores during the 3rd quarter valued at $33,403,000.

Burlington Stores Trading Down 0.7%

Shares of BURL opened at $306.40 on Monday. The business’s 50-day moving average price is $301.18 and its 200 day moving average price is $282.14. The company has a current ratio of 1.21, a quick ratio of 0.46 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $19.28 billion, a P/E ratio of 35.22, a P/E/G ratio of 1.73 and a beta of 1.74. Burlington Stores, Inc. has a 1-year low of $212.92 and a 1-year high of $332.20.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Guggenheim started coverage on Burlington Stores in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Evercore lowered their target price on Burlington Stores from $370.00 to $335.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Gordon Haskett downgraded shares of Burlington Stores from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Barclays lowered their price objective on shares of Burlington Stores from $336.00 to $331.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $330.00 target price on shares of Burlington Stores in a research note on Tuesday, November 25th. Fifteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $338.44.

About Burlington Stores

Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company’s merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington’s merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.

The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.