BlackRock Inc. lessened its stake in Burlington Stores, Inc. (NYSE:BURL) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,966,704 shares of the company’s stock after selling 125,111 shares during the period. BlackRock Inc. owned about 4.29% of Burlington Stores worth $272,908,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BURL. M&T Bank Corp boosted its stake in shares of Burlington Stores by 1.5% during the 1st quarter. M&T Bank Corp now owns 2,583 shares of the company’s stock worth $252,000 after acquiring an additional 37 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Burlington Stores by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 3,808 shares of the company’s stock valued at $350,000 after purchasing an additional 40 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Burlington Stores by 0.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,619 shares of the company’s stock valued at $517,000 after purchasing an additional 41 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Burlington Stores by 6.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,081 shares of the company’s stock valued at $283,000 after purchasing an additional 191 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in shares of Burlington Stores by 0.4% in the 2nd quarter. Chartwell Investment Partners LLC now owns 64,496 shares of the company’s stock valued at $5,933,000 after purchasing an additional 276 shares in the last quarter.

A number of research firms recently issued reports on BURL. BMO Capital Markets reissued a “buy” rating and issued a $115.00 price target on shares of Burlington Stores in a research note on Wednesday, September 13th. Cowen and Company set a $105.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Monday, August 14th. Credit Suisse Group cut shares of Burlington Stores from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $97.00 to $89.00 in a research report on Wednesday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 price objective (up from $105.00) on shares of Burlington Stores in a report on Friday, August 25th. Finally, BidaskClub raised shares of Burlington Stores from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $105.75.

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Shares of Burlington Stores, Inc. (NYSE:BURL) opened at 95.11 on Wednesday. The firm has a market cap of $6.48 billion, a P/E ratio of 26.27 and a beta of 0.53. The firm has a 50-day moving average of $88.54 and a 200-day moving average of $92.26. Burlington Stores, Inc. has a 12-month low of $68.94 and a 12-month high of $104.07.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.22. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities analysts forecast that Burlington Stores, Inc. will post $4.20 earnings per share for the current fiscal year.

Burlington Stores declared that its board has authorized a share buyback program on Thursday, August 24th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $47,478,765.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joyce Manning Magrini sold 3,335 shares of Burlington Stores stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $88.12, for a total transaction of $293,880.20. Following the transaction, the insider now owns 53,949 shares of the company’s stock, valued at approximately $4,753,985.88. The disclosure for this sale can be found here. Insiders sold a total of 86,457 shares of company stock worth $7,520,358 over the last quarter. 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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Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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