Neuberger Berman Group LLC Has $23.53 Million Holdings in Burlington Stores, Inc. (BURL)
Neuberger Berman Group LLC lessened its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 27.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 255,816 shares of the company’s stock after selling 98,749 shares during the quarter. Neuberger Berman Group LLC owned about 0.37% of Burlington Stores worth $23,533,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in BURL. Vanguard Group Inc. boosted its holdings in shares of Burlington Stores by 9.8% during the first quarter. Vanguard Group Inc. now owns 6,361,806 shares of the company’s stock worth $618,940,000 after purchasing an additional 570,160 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Burlington Stores by 7,290.1% during the first quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock worth $300,802,000 after purchasing an additional 3,049,978 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Burlington Stores by 9.1% during the first quarter. Alliancebernstein L.P. now owns 1,780,974 shares of the company’s stock worth $173,271,000 after purchasing an additional 148,105 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Burlington Stores by 4.0% during the second quarter. Victory Capital Management Inc. now owns 1,468,367 shares of the company’s stock worth $135,075,000 after purchasing an additional 56,547 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Burlington Stores by 19.4% during the first quarter. AQR Capital Management LLC now owns 1,346,437 shares of the company’s stock worth $130,995,000 after purchasing an additional 219,088 shares during the last quarter.
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BURL has been the topic of several analyst reports. MKM Partners restated a “buy” rating and set a $108.00 price objective (up previously from $104.00) on shares of Burlington Stores in a report on Tuesday, May 30th. BMO Capital Markets set a $115.00 price objective on Burlington Stores and gave the stock a “buy” rating in a report on Thursday, June 8th. BidaskClub upgraded Burlington Stores from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research cut Burlington Stores from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Cowen and Company set a $105.00 price objective on Burlington Stores and gave the stock a “buy” rating in a report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $105.59.
Burlington Stores, Inc. (BURL) opened at 88.05 on Thursday. Burlington Stores, Inc. has a one year low of $68.94 and a one year high of $104.07. The company has a 50-day moving average price of $85.93 and a 200-day moving average price of $92.37. The firm has a market cap of $6.00 billion, a PE ratio of 24.32 and a beta of 0.51.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.22. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. Burlington Stores’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Equities analysts predict that Burlington Stores, Inc. will post $4.20 earnings per share for the current fiscal year.
Burlington Stores announced that its Board of Directors has initiated a share buyback program on Thursday, August 24th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
In related news, insider Joyce Manning Magrini sold 2,400 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $88.00, for a total value of $211,200.00. Following the completion of the sale, the insider now directly owns 49,914 shares in the company, valued at $4,392,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Katz sold 11,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $87.25, for a total transaction of $959,750.00. Following the completion of the sale, the chief financial officer now owns 124,555 shares of the company’s stock, valued at $10,867,423.75. The disclosure for this sale can be found here. Insiders sold 60,068 shares of company stock valued at $5,219,566 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
Burlington Stores 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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