M&T Bank Corp grew its position in Burlington Stores, Inc. (NYSE:BURL) by 42.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,692 shares of the company’s stock after acquiring an additional 1,109 shares during the period. M&T Bank Corp’s holdings in Burlington Stores were worth $341,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Prudential Financial Inc. raised its position 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 raised its position 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 raised its position 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 raised its position 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. raised its position 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.

In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the completion of the transaction, the chief executive officer now owns 518,008 shares in the company, valued at $43,528,212.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joyce Manning Magrini sold 2,400 shares of Burlington Stores stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $94.16, for a total transaction of $225,984.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,857 shares of company stock valued at $5,982,342. 2.60% of the stock is currently owned by company insiders.

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Shares of Burlington Stores, Inc. (BURL) opened at 92.39 on Wednesday. Burlington Stores, Inc. has a 52 week low of $68.94 and a 52 week high of $104.07. The company’s 50-day moving average is $90.05 and its 200 day moving average is $92.23. The stock has a market cap of $6.30 billion, a PE ratio of 25.52 and a beta of 0.53.

Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.22. The company 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%. 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 earnings per share. Analysts forecast that Burlington Stores, Inc. will post $4.20 earnings per share for the current fiscal year.

Burlington Stores declared that its Board of Directors has initiated a share repurchase program on Thursday, August 24th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Several research analysts recently weighed in on the stock. BidaskClub downgraded shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Cowen and Company restated an “outperform” rating and set a $110.00 price target on shares of Burlington Stores in a research report on Friday, June 23rd. Credit Suisse Group downgraded shares of Burlington Stores from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $97.00 to $89.00 in a research report on Wednesday, August 2nd. BMO Capital Markets set a $115.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, TheStreet downgraded 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 assigned a buy rating to the company’s stock. Burlington Stores presently has a consensus rating of “Buy” and a consensus price target of $105.38.

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.

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

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