Fred Hand Sells 8,000 Shares of Burlington Stores, Inc. (BURL) Stock
Burlington Stores, Inc. (NYSE:BURL) insider Fred Hand sold 8,000 shares of Burlington Stores stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $87.80, for a total value of $702,400.00. Following the completion of the transaction, the insider now owns 76,309 shares of the company’s stock, valued at approximately $6,699,930.20. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Burlington Stores, Inc. (NYSE:BURL) opened at 90.85 on Friday. The firm’s 50-day moving average price is $86.30 and its 200 day moving average price is $92.41. The company has a market cap of $6.19 billion, a P/E ratio of 25.10 and a beta of 0.51. Burlington Stores, Inc. has a 52 week low of $68.94 and a 52 week high of $104.07.
Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Burlington Stores, Inc. will post $4.20 EPS for the current fiscal year.
Burlington Stores announced that its board has approved a share buyback program on Thursday, August 24th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have recently commented on the company. Bank of America Corporation lifted their target price on Burlington Stores from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. Cowen and Company set a $105.00 target price on Burlington Stores and gave the stock a “buy” rating in a research report on Monday, August 14th. BMO Capital Markets reiterated a “buy” rating and issued a $115.00 target price on shares of Burlington Stores in a research report on Wednesday. Deutsche Bank AG assumed coverage on Burlington Stores in a research report on Thursday. They issued a “buy” rating and a $108.00 target price for the company. Finally, Credit Suisse Group lowered Burlington Stores from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $97.00 to $89.00 in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $105.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BURL. Nisa Investment Advisors LLC grew its position in Burlington Stores by 54.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,710 shares of the company’s stock worth $361,000 after acquiring an additional 1,310 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Burlington Stores by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 17,300 shares of the company’s stock worth $1,682,000 after acquiring an additional 1,300 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Burlington Stores by 1.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 79,474 shares of the company’s stock worth $7,732,000 after acquiring an additional 981 shares during the last quarter. Bank of New York Mellon Corp grew its position in Burlington Stores by 59.3% during the 1st quarter. Bank of New York Mellon Corp now owns 786,363 shares of the company’s stock worth $76,505,000 after acquiring an additional 292,678 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Burlington Stores by 32.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the company’s stock worth $281,000 after acquiring an additional 707 shares during the last quarter.
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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