Point72 Asset Management L.P. Reduces Position in Burlington Stores Inc (NYSE:BURL)

Point72 Asset Management L.P. lowered its holdings in shares of Burlington Stores Inc (NYSE:BURL) by 48.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,435 shares of the company’s stock after selling 67,267 shares during the quarter. Point72 Asset Management L.P. owned 0.11% of Burlington Stores worth $10,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BURL. FMR LLC grew its stake in Burlington Stores by 39.7% in the second quarter. FMR LLC now owns 3,445,692 shares of the company’s stock valued at $518,680,000 after purchasing an additional 979,815 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Burlington Stores by 6.8% during the 2nd quarter. BlackRock Inc. now owns 3,135,632 shares of the company’s stock worth $472,007,000 after acquiring an additional 199,902 shares during the period. Carillon Tower Advisers Inc. boosted its stake in shares of Burlington Stores by 8.6% during the 1st quarter. Carillon Tower Advisers Inc. now owns 1,080,259 shares of the company’s stock worth $144,112,000 after acquiring an additional 85,948 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Burlington Stores by 1,187.5% during the 2nd quarter. Renaissance Technologies LLC now owns 875,500 shares of the company’s stock worth $131,789,000 after acquiring an additional 807,500 shares during the period. Finally, KAMES CAPITAL plc boosted its stake in shares of Burlington Stores by 4.8% during the 2nd quarter. KAMES CAPITAL plc now owns 851,848 shares of the company’s stock worth $128,274,000 after acquiring an additional 39,190 shares during the period.

In related news, CFO Marc Katz sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $155.25, for a total transaction of $1,164,375.00. Following the sale, the chief financial officer now owns 111,590 shares in the company, valued at approximately $17,324,347.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joyce Manning Magrini sold 2,500 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $161.72, for a total value of $404,300.00. Following the sale, the insider now owns 17,588 shares in the company, valued at approximately $2,844,331.36. The disclosure for this sale can be found here. Insiders have sold a total of 68,771 shares of company stock valued at $11,312,132 in the last three months. 1.91% of the stock is owned by insiders.

Several research analysts have recently commented on BURL shares. Cowen lifted their target price on Burlington Stores from $175.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. SunTrust Banks boosted their price target on Burlington Stores to $189.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Barclays started coverage on Burlington Stores in a research note on Tuesday, September 11th. They issued an “overweight” rating and a $194.00 price target for the company. Goldman Sachs Group started coverage on Burlington Stores in a research note on Monday, September 3rd. They issued a “neutral” rating and a $179.00 price target for the company. Finally, Wells Fargo & Co boosted their price target on Burlington Stores from $165.00 to $178.00 and gave the company an “outperform” rating in a research note on Friday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. Burlington Stores currently has an average rating of “Buy” and a consensus price target of $172.75.

Burlington Stores stock opened at $151.85 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 7.54. Burlington Stores Inc has a 52 week low of $87.20 and a 52 week high of $175.48. The firm has a market cap of $11.01 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.26 and a beta of 0.45.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, August 30th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. Burlington Stores had a return on equity of 606.69% and a net margin of 6.85%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. Burlington Stores’s revenue was up 9.9% on a year-over-year basis. As a group, research analysts forecast that Burlington Stores Inc will post 6.22 EPS for the current year.

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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Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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