Canada Pension Plan Investment Board decreased its position in Burlington Stores, Inc. (NYSE:BURL) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,700 shares of the company’s stock after selling 6,100 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.15% of Burlington Stores worth $9,804,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BURL. Westpac Banking Corp boosted its holdings in shares of Burlington Stores by 8.8% in the 3rd quarter. Westpac Banking Corp now owns 65,500 shares of the company’s stock worth $6,253,000 after buying an additional 5,300 shares during the last quarter. Heritage Investors Management Corp purchased a new position in shares of Burlington Stores in the 3rd quarter worth about $1,728,000. Peregrine Capital Management LLC boosted its holdings in shares of Burlington Stores by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 295,735 shares of the company’s stock worth $28,231,000 after buying an additional 10,051 shares during the last quarter. Strs Ohio boosted its holdings in shares of Burlington Stores by 90.9% in the 3rd quarter. Strs Ohio now owns 105,000 shares of the company’s stock worth $10,023,000 after buying an additional 50,000 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in shares of Burlington Stores in the 3rd quarter worth about $239,000.
In related news, insider Fred Hand sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $87.80, for a total value of $702,400.00. Following the transaction, the insider now directly owns 76,309 shares in the company, valued at $6,699,930.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Sullivan sold 1,722 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $88.46, for a total transaction of $152,328.12. Following the completion of the transaction, the director now owns 3,441 shares in the company, valued at $304,390.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,922 shares of company stock worth $6,082,550. Company insiders own 2.60% of the company’s stock.
Shares of Burlington Stores, Inc. (NYSE BURL) opened at $98.30 on Friday. Burlington Stores, Inc. has a 52-week low of $71.41 and a 52-week high of $104.07. The firm has a market capitalization of $6,779.95, a PE ratio of 26.35, a PEG ratio of 1.33 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of -13.31.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. sell-side analysts predict that Burlington Stores, Inc. will post 4.24 EPS for the current year.
Burlington Stores declared that its board has authorized a stock buyback program on Thursday, August 24th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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Several equities research analysts have commented on the stock. Cowen and Company set a $105.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a report on Wednesday, November 1st. BMO Capital Markets set a $115.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Wednesday, November 1st. BidaskClub raised shares of Burlington Stores from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, SunTrust Banks, Inc. set a $109.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a report on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $105.96.
About Burlington Stores
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
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