Eaton Vance Management reduced its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,835 shares of the company’s stock after selling 6,449 shares during the quarter. Eaton Vance Management owned about 0.44% of Burlington Stores worth $27,950,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of BURL. Nisa Investment Advisors LLC grew its stake 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 buying an additional 1,310 shares during the last quarter. Great West Life Assurance Co. Can grew its stake 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 buying an additional 1,300 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake 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 buying an additional 981 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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 buying an additional 292,678 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 buying an additional 707 shares during the last quarter.
Shares of Burlington Stores, Inc. (NYSE BURL) opened at 90.13 on Friday. The stock has a market capitalization of $6.14 billion, a P/E ratio of 24.90 and a beta of 0.51. Burlington Stores, Inc. has a one year low of $68.94 and a one year high of $104.07. The stock’s 50 day moving average price is $86.38 and its 200 day moving average price is $92.42.
Burlington Stores (NYSE:BURL) last posted 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 negative return on equity of 330.30% and a net margin of 4.46%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $0.39 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Burlington Stores, Inc. will post $4.20 EPS for the current year.
Burlington Stores announced that its board has authorized a stock repurchase program on Thursday, August 24th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the completion of the sale, the chief executive officer now owns 518,008 shares in the company, valued at $43,528,212.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joyce Manning Magrini sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $93.05, for a total value of $310,135.65. Following the sale, the insider now owns 56,882 shares of the company’s stock, valued at approximately $5,292,870.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,790 shares of company stock worth $7,830,494. Corporate insiders own 2.60% of the company’s stock.
A number of research analysts have issued reports on BURL shares. BidaskClub lowered Burlington Stores from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Cowen and Company reiterated an “outperform” rating and set a $110.00 price target on shares of Burlington Stores in a research report on Friday, June 23rd. Morgan Stanley reduced their price target on Burlington Stores from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, May 30th. Zacks Investment Research upgraded Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Friday, June 2nd. Finally, Citigroup Inc. reduced their price target on Burlington Stores from $100.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Burlington Stores currently has a consensus rating of “Buy” and an average target price of $105.75.
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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.
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