First Hawaiian Bank bought a new position in shares of Burlington Stores Inc (NYSE:BURL) in the third quarter, HoldingsChannel reports. The institutional investor bought 6,120 shares of the company’s stock, valued at approximately $997,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Hexavest Inc. bought a new position in Burlington Stores during the 3rd quarter worth about $109,000. First Republic Investment Management Inc. bought a new position in Burlington Stores during the 2nd quarter worth about $219,000. Zacks Investment Management bought a new position in Burlington Stores during the 2nd quarter worth about $220,000. IPG Investment Advisors LLC bought a new position in Burlington Stores during the 2nd quarter worth about $257,000. Finally, CENTRAL TRUST Co increased its holdings in Burlington Stores by 388.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,597 shares of the company’s stock worth $260,000 after purchasing an additional 1,270 shares in the last quarter.
Shares of NYSE:BURL opened at $155.35 on Friday. Burlington Stores Inc has a 52-week low of $87.73 and a 52-week high of $175.48. The stock has a market capitalization of $10.49 billion, a P/E ratio of 29.42, a PEG ratio of 1.20 and a beta of 0.45. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.05 and a quick ratio of 0.29.
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, beating the Thomson Reuters’ 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $0.72 EPS. Burlington Stores’s revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Burlington Stores Inc will post 6.22 EPS for the current year.
A number of equities analysts have issued reports on the company. DA Davidson assumed coverage on Burlington Stores in a report on Wednesday, September 26th. They set a “buy” rating and a $187.00 target price for the company. Cowen set a $195.00 price objective on Burlington Stores and gave the company a “buy” rating in a report on Tuesday, September 25th. Barclays began coverage on Burlington Stores in a report on Tuesday, September 11th. They issued an “overweight” rating and a $194.00 price objective for the company. Goldman Sachs Group began coverage on Burlington Stores in a report on Monday, September 3rd. They issued a “neutral” rating and a $179.00 price objective for the company. Finally, SunTrust Banks raised their price objective on Burlington Stores to $189.00 and gave the company a “buy” rating in a report on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $172.75.
In related news, insider Joyce Manning Magrini sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $150.94, for a total value of $377,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $159.62, for a total transaction of $3,192,400.00. Following the completion of the sale, the chief executive officer now owns 322,973 shares of the company’s stock, valued at $51,552,950.26. The disclosure for this sale can be found here. Insiders sold a total of 92,842 shares of company stock valued at $14,953,212 over the last quarter. 1.91% of the stock is currently owned by company insiders.
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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