Russell Investments Group Ltd. Sells 36,188 Shares of Burlington Stores, Inc. (BURL)
Russell Investments Group Ltd. reduced its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 49.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,553 shares of the company’s stock after selling 36,188 shares during the period. Russell Investments Group Ltd. owned 0.05% of Burlington Stores worth $3,456,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Burlington Stores by 9.8% in the first quarter. Vanguard Group Inc. now owns 6,361,806 shares of the company’s stock valued at $618,940,000 after buying an additional 570,160 shares during the period. BlackRock Inc. boosted its stake in Burlington Stores by 7,290.1% in the first quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock valued at $300,802,000 after buying an additional 3,049,978 shares during the period. Alliancebernstein L.P. boosted its stake in Burlington Stores by 9.1% in the first quarter. Alliancebernstein L.P. now owns 1,780,974 shares of the company’s stock valued at $173,271,000 after buying an additional 148,105 shares during the period. AQR Capital Management LLC boosted its stake in Burlington Stores by 19.4% in the first quarter. AQR Capital Management LLC now owns 1,346,437 shares of the company’s stock valued at $130,995,000 after buying an additional 219,088 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Burlington Stores by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 1,013,663 shares of the company’s stock valued at $98,619,000 after buying an additional 70,950 shares during the period.
Burlington Stores, Inc. (NYSE BURL) traded down 0.312% on Monday, reaching $87.775. 461,817 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 24.247 and a beta of 0.51. Burlington Stores, Inc. has a 1-year low of $68.94 and a 1-year high of $104.07. The stock’s 50 day moving average price is $86.38 and its 200 day moving average price is $92.22.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 352.79%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, analysts expect that Burlington Stores, Inc. will post $4.20 earnings per share for the current year.
Burlington Stores announced that its Board of Directors has authorized a stock buyback program on Thursday, August 24th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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BURL has been the subject of several recent analyst reports. BMO Capital Markets set a $96.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Friday, May 26th. TheStreet lowered shares of Burlington Stores from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Citigroup Inc. cut their price target on shares of Burlington Stores from $100.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 30th. Cowen and Company reiterated an “outperform” rating and set a $110.00 price target on shares of Burlington Stores in a research note on Friday, June 23rd. Finally, BidaskClub lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $105.59.
In other Burlington Stores news, CFO Marc Katz sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was 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 directly owns 123,555 shares of the company’s stock, valued at approximately $11,960,124. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fred Hand sold 12,500 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $100.47, for a total value of $1,255,875.00. Following the sale, the insider now directly owns 80,809 shares of the company’s stock, valued at $8,118,880.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,168 shares of company stock worth $6,272,491. 2.60% of the stock is owned by corporate insiders.
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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