Jennison Associates LLC reduced its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 16.1% during the third quarter, Holdings Channel reports. The fund owned 2,374,533 shares of the company’s stock after selling 456,178 shares during the period. Jennison Associates LLC’s holdings in Burlington Stores were worth $192,385,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Burlington Stores during the third quarter worth $106,000. Advisor Group Inc. acquired a new stake in shares of Burlington Stores during the second quarter worth $112,000. Nisa Investment Advisors LLC boosted its stake in shares of Burlington Stores by 250.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,800 shares of the company’s stock worth $187,000 after buying an additional 2,000 shares in the last quarter. BOKF NA acquired a new stake in shares of Burlington Stores during the second quarter worth $207,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Burlington Stores during the second quarter worth $217,000.
Burlington Stores, Inc. (NYSE:BURL) opened at 83.59 on Wednesday. The stock has a market cap of $5.85 billion, a P/E ratio of 32.10 and a beta of 0.55. Burlington Stores, Inc. has a 12 month low of $48.55 and a 12 month high of $91.67. The firm’s 50-day moving average is $86.07 and its 200-day moving average is $80.09.
Burlington Stores (NYSE:BURL) last announced its earnings results on Tuesday, November 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. Burlington Stores had a net margin of 3.48% and a negative return on equity of 193.88%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Burlington Stores, Inc. will post $3.17 earnings per share for the current fiscal year.
A number of analysts recently weighed in on BURL shares. Wedbush started coverage on shares of Burlington Stores in a research note on Thursday, January 5th. They set an “outperform” rating and a $107.00 price target for the company. TheStreet upgraded shares of Burlington Stores from a “sell” rating to a “buy” rating in a research note on Monday, October 3rd. Zacks Investment Research cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. BMO Capital Markets reiterated an “outperform” rating and set a $96.00 price target on shares of Burlington Stores in a research note on Wednesday, September 28th. Finally, Guggenheim started coverage on shares of Burlington Stores in a research note on Friday, September 30th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Burlington Stores presently has an average rating of “Buy” and a consensus price target of $91.41.
In related news, CFO Marc Katz sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $88.51, for a total transaction of $708,080.00. Following the sale, the chief financial officer now directly owns 100,465 shares of the company’s stock, valued at approximately $8,892,157.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fred Hand sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $89.11, for a total transaction of $891,100.00. Following the sale, the insider now directly owns 71,465 shares in the company, valued at $6,368,246.15. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.
About Burlington Stores
Burlington Stores, Inc is a retailer of branded apparel. The Company has approximately 570 stores, inclusive of an Internet store, in over 45 states of the United States and Puerto Rico, and diversified its product categories by offering a selection of in-season, fashion-focused merchandise, including: women’s ready-to-wear apparel, menswear, youth apparel, baby, footwear, accessories, home and coats.
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