Samlyn Capital LLC Acquires 456,305 Shares of Burlington Stores, Inc. (BURL)
Samlyn Capital LLC raised its holdings in shares of Burlington Stores, Inc. (NYSE:BURL) by 89.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 968,713 shares of the company’s stock after buying an additional 456,305 shares during the period. Burlington Stores comprises approximately 2.2% of Samlyn Capital LLC’s investment portfolio, making the stock its 9th biggest position. Samlyn Capital LLC owned 1.40% of Burlington Stores worth $89,112,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Advisor Group Inc. boosted its stake in shares of Burlington Stores by 9.2% during the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock valued at $139,000 after purchasing an additional 128 shares during the period. Laurion Capital Management LP bought a new position in shares of Burlington Stores in the first quarter worth about $204,000. Gilbert & Cook Inc. bought a new position in shares of Burlington Stores in the second quarter worth about $210,000. Massachusetts Financial Services Co. MA bought a new position in shares of Burlington Stores in the first quarter worth about $241,000. Finally, Stephens Inc. AR grew its holdings in shares of Burlington Stores by 6,389.7% in the second quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock worth $233,000 after purchasing an additional 2,492 shares during the last quarter.
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In other Burlington Stores news, CFO Marc Katz sold 11,000 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $87.25, for a total transaction of $959,750.00. Following the sale, the chief financial officer now directly owns 124,555 shares in the company, valued at approximately $10,867,423.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the firm’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 transaction of $1,764,000.00. Following the completion of the transaction, the chief executive officer now directly owns 538,308 shares of the company’s stock, valued at approximately $47,478,765.60. The disclosure for this sale can be found here. Insiders sold 86,457 shares of company stock valued at $7,520,358 in the last 90 days. Company insiders own 2.60% of the company’s stock.
Several research analysts recently commented on the stock. Deutsche Bank AG began coverage on shares of Burlington Stores in a research note on Thursday, September 14th. They issued a “buy” rating and a $108.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and issued a $115.00 price objective on shares of Burlington Stores in a research report on Wednesday, September 13th. Cowen and Company set a $105.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a research report on Monday, August 14th. BidaskClub upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, TheStreet downgraded shares of Burlington Stores from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $105.75.
Shares of Burlington Stores, Inc. (NYSE:BURL) traded down 0.026% during trading on Tuesday, reaching $94.655. 169,301 shares of the company were exchanged. The stock has a market capitalization of $6.45 billion, a P/E ratio of 26.148 and a beta of 0.53. The firm has a 50-day moving average price of $88.20 and a 200-day moving average price of $92.26. Burlington Stores, Inc. has a 1-year low of $68.94 and a 1-year high of $104.07.
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. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research 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 stock repurchase plan on Thursday, August 24th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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