California Public Employees Retirement System grew its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 230.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,600 shares of the company’s stock after purchasing an additional 63,200 shares during the period. California Public Employees Retirement System owned 0.13% of Burlington Stores worth $8,334,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its stake in shares of Burlington Stores by 106.4% during the 2nd quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock worth $73,575,000 after purchasing an additional 412,380 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Burlington Stores by 7,886.9% during the 1st quarter. Clearbridge Investments LLC now owns 248,792 shares of the company’s stock worth $24,205,000 after purchasing an additional 245,677 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Burlington Stores by 5.4% during the 1st quarter. Nuveen Asset Management LLC now owns 75,386 shares of the company’s stock worth $7,334,000 after purchasing an additional 3,886 shares during the last quarter. FMR LLC boosted its stake in shares of Burlington Stores by 13.3% during the 1st quarter. FMR LLC now owns 565,678 shares of the company’s stock worth $55,035,000 after purchasing an additional 66,428 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Burlington Stores by 582.2% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 483,077 shares of the company’s stock worth $44,438,000 after purchasing an additional 412,262 shares during the last quarter.

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Burlington Stores, Inc. (NYSE:BURL) opened at 92.39 on Wednesday. The company has a 50-day moving average of $90.05 and a 200 day moving average of $92.23. Burlington Stores, Inc. has a 12-month low of $68.94 and a 12-month high of $104.07. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 25.52 and a beta of 0.53.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Equities analysts anticipate that Burlington Stores, Inc. will post $4.20 earnings per share for the current year.

Burlington Stores announced that its Board of Directors has approved a stock buyback plan on Thursday, August 24th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several equities research analysts have issued reports on BURL shares. BidaskClub raised shares of Burlington Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Deutsche Bank AG assumed coverage on shares of Burlington Stores in a research report on Thursday, September 14th. They issued a “buy” rating and a $108.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up from $105.00) on shares of Burlington Stores in a research report on Friday, August 25th. Cowen and Company reissued an “outperform” rating and issued a $110.00 target price on shares of Burlington Stores in a research report on Friday, June 23rd. Finally, TheStreet cut shares of Burlington Stores from a “b-” rating to a “c+” rating in a research report on Friday, June 23rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Burlington Stores currently has a consensus rating of “Buy” and a consensus target price of $105.38.

In related news, insider Fred Hand sold 8,000 shares of the business’s 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 sale, 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. Also, insider Joyce Manning Magrini sold 3,335 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $88.12, for a total value of $293,880.20. Following the completion of the sale, the insider now directly 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. In the last three months, insiders sold 68,857 shares of company stock valued at $5,982,342. 2.60% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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