Sterling Capital Management LLC trimmed its position in shares of Burlington Stores Inc (NYSE:BURL) by 38.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its stake in shares of Burlington Stores by 994.5% during the second quarter. Cubist Systematic Strategies LLC now owns 52,689 shares of the company’s stock valued at $7,931,000 after acquiring an additional 47,875 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Burlington Stores by 27.7% during the second quarter. Bank of America Corp DE now owns 596,750 shares of the company’s stock valued at $89,829,000 after acquiring an additional 129,508 shares in the last quarter. Morgan Stanley grew its stake in shares of Burlington Stores by 7.4% during the second quarter. Morgan Stanley now owns 688,536 shares of the company’s stock valued at $103,646,000 after acquiring an additional 47,502 shares in the last quarter. Natixis grew its stake in shares of Burlington Stores by 386.2% during the second quarter. Natixis now owns 493,433 shares of the company’s stock valued at $74,276,000 after acquiring an additional 391,945 shares in the last quarter. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Burlington Stores during the second quarter valued at about $219,000.
In other news, CFO Marc Katz sold 7,500 shares of Burlington Stores stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $172.46, for a total transaction of $1,293,450.00. Following the sale, the chief financial officer now owns 115,423 shares of the company’s stock, valued at $19,905,850.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $159.62, for a total value of $3,192,400.00. Following the sale, the chief executive officer now directly owns 322,973 shares in the company, valued at approximately $51,552,950.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,771 shares of company stock worth $11,312,132. Corporate insiders own 1.91% of the company’s stock.
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 Zacks’ 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 for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company posted $0.72 earnings per share. Burlington Stores’s revenue was up 9.9% on a year-over-year basis. As a group, analysts anticipate that Burlington Stores Inc will post 6.22 EPS for the current fiscal year.
Several analysts have recently weighed in on BURL shares. UBS Group started coverage on Burlington Stores in a research note on Thursday, June 21st. They set a “sell” rating and a $135.00 target price for the company. Wedbush started coverage on Burlington Stores in a research note on Friday, June 22nd. They set an “outperform” rating and a $175.00 target price for the company. Zacks Investment Research downgraded Burlington Stores from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Loop Capital restated a “buy” rating and set a $170.00 target price (up from $156.00) on shares of Burlington Stores in a research note on Wednesday, June 27th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Burlington Stores in a research report on Tuesday, July 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $172.75.
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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