State Street Corp Reduces Stake in Burlington Stores, Inc. (NYSE:BURL)

State Street Corp lowered its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 981,224 shares of the company’s stock after selling 4,779 shares during the period. State Street Corp owned approximately 1.41% of Burlington Stores worth $95,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. M&T Bank Corp increased its position in Burlington Stores by 1.5% in the first quarter. M&T Bank Corp now owns 2,583 shares of the company’s stock worth $252,000 after buying an additional 37 shares in the last quarter. Raymond James Trust N.A. increased its position in Burlington Stores by 3.9% in the first quarter. Raymond James Trust N.A. now owns 3,768 shares of the company’s stock worth $367,000 after buying an additional 142 shares in the last quarter. First Mercantile Trust Co. increased its position in Burlington Stores by 2.1% in the first quarter. First Mercantile Trust Co. now owns 10,741 shares of the company’s stock worth $1,045,000 after buying an additional 220 shares in the last quarter. World Asset Management Inc increased its position in Burlington Stores by 15.2% in the first quarter. World Asset Management Inc now owns 2,888 shares of the company’s stock worth $281,000 after buying an additional 381 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Burlington Stores by 2.9% in the first quarter. Envestnet Asset Management Inc. now owns 23,004 shares of the company’s stock worth $2,234,000 after buying an additional 655 shares in the last quarter.

Burlington Stores, Inc. (BURL) traded up 0.30% during mid-day trading on Tuesday, hitting $87.26. The company had a trading volume of 1,214,932 shares. The company has a 50-day moving average price of $88.85 and a 200 day moving average price of $92.03. Burlington Stores, Inc. has a 12 month low of $68.94 and a 12 month high of $104.07. The firm has a market capitalization of $6.03 billion, a P/E ratio of 27.07 and a beta of 0.51.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. Burlington Stores had a negative return on equity of 294.39% and a net margin of 4.08%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Equities analysts forecast that Burlington Stores, Inc. will post $3.97 EPS for the current fiscal year.

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A number of research analysts have weighed in on BURL shares. Vetr downgraded Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $105.25 target price on the stock. in a report on Monday, April 10th. BMO Capital Markets reissued a “buy” rating on shares of Burlington Stores in a report on Tuesday, April 18th. Wolfe Research began coverage on Burlington Stores in a research report on Friday, April 28th. They issued an “outperform” rating and a $113.00 price target for the company. Bank of America Corporation upped their price target on Burlington Stores from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. Finally, Morgan Stanley reduced their price target on Burlington Stores from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $104.62.

In other news, CFO Marc Katz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $96.80, for a total value of $968,000.00. Following the completion of the sale, the chief financial officer now directly owns 123,555 shares in the company, valued at $11,960,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $88.20, for a total value of $1,764,000.00. Following the completion of the sale, the chief executive officer now owns 538,308 shares of the company’s stock, valued at $47,478,765.60. The disclosure for this sale can be found here. Insiders sold 49,168 shares of company stock valued at $4,591,891 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Burlington Stores Company Profile

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.

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

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