Burlington Stores, Inc. (BURL) Stake Reduced by First Mercantile Trust Co.
First Mercantile Trust Co. reduced its position in Burlington Stores, Inc. (NYSE:BURL) by 58.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,496 shares of the company’s stock after selling 6,245 shares during the period. First Mercantile Trust Co.’s holdings in Burlington Stores were worth $414,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BURL. Nisa Investment Advisors LLC raised its position in shares of Burlington Stores by 54.6% in the first quarter. Nisa Investment Advisors LLC now owns 3,710 shares of the company’s stock worth $361,000 after buying an additional 1,310 shares during the last quarter. Columbus Circle Investors raised its position in shares of Burlington Stores by 0.5% in the first quarter. Columbus Circle Investors now owns 740,893 shares of the company’s stock worth $72,081,000 after buying an additional 4,024 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in shares of Burlington Stores during the first quarter worth $486,000. CAPROCK Group Inc. purchased a new position in shares of Burlington Stores during the first quarter worth $202,000. Finally, Glen Harbor Capital Management LLC raised its position in shares of Burlington Stores by 84.9% in the first quarter. Glen Harbor Capital Management LLC now owns 25,586 shares of the company’s stock worth $2,489,000 after buying an additional 11,748 shares during the last quarter.
Shares of Burlington Stores, Inc. (NYSE BURL) opened at 82.78 on Thursday. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 25.68 and a beta of 0.51. The stock has a 50 day moving average price of $87.41 and a 200 day moving average price of $92.17. Burlington Stores, Inc. has a 1-year low of $68.94 and a 1-year high of $104.07. Burlington Stores also was the target of some unusual options trading activity on Tuesday. Investors purchased 15,229 call options on the stock. This represents an increase of approximately 1,545% compared to the average volume of 926 call options.
Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, May 25th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Burlington Stores had a net margin of 4.08% and a negative return on equity of 294.39%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Burlington Stores, Inc. will post $3.97 EPS for the current year.
BURL has been the subject of a number of recent analyst reports. Vetr lowered shares of Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $105.25 price objective for the company. in a report on Thursday, April 20th. Wolfe Research initiated coverage on shares of Burlington Stores in a research note on Friday, April 28th. They set an “outperform” rating and a $113.00 target price for the company. BMO Capital Markets set a $96.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a research note on Friday, May 26th. Bank of America Corporation boosted their target price on shares of Burlington Stores from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Finally, Morgan Stanley decreased their target price on shares of Burlington Stores from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $104.28.
In other news, insider Fred Hand sold 12,500 shares of Burlington Stores stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $100.47, for a total value of $1,255,875.00. Following the sale, the insider now owns 80,809 shares in the company, valued at $8,118,880.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marc Katz sold 10,000 shares of Burlington Stores stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $96.80, for a total transaction of $968,000.00. Following the completion of the sale, the chief financial officer now owns 123,555 shares in the company, valued at approximately $11,960,124. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,168 shares of company stock worth $6,272,491. 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.
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