TIAA CREF Investment Management LLC reduced its position in Burlington Stores Inc (NYSE:BURL) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 430,857 shares of the company’s stock after selling 6,381 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.62% of Burlington Stores worth $39,635,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Laurion Capital Management LP bought a new stake in shares of Burlington Stores in the 1st quarter valued at $204,000. Gilbert & Cook Inc. bought a new stake in shares of Burlington Stores in the 2nd quarter valued at $210,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Burlington Stores in the 1st quarter valued at $241,000. Stephens Inc. AR boosted its stake in shares of Burlington Stores by 6,389.7% in the 2nd quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock valued at $233,000 after purchasing an additional 2,492 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in shares of Burlington Stores by 103.7% in the 2nd quarter. TrimTabs Asset Management LLC now owns 2,552 shares of the company’s stock valued at $235,000 after purchasing an additional 1,299 shares during the last quarter.
BURL has been the topic of a number of analyst reports. MKM Partners reaffirmed a “buy” rating and issued a $108.00 price objective (up from $104.00) on shares of Burlington Stores in a research note on Tuesday, May 30th. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a research report on Thursday, June 8th. BidaskClub upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Finally, Deutsche Bank AG started coverage on shares of Burlington Stores in a research report on Thursday, September 14th. They set a “buy” rating and a $108.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $105.75.
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In other news, insider Joyce Manning Magrini sold 3,333 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $93.05, for a total transaction of $310,135.65. Following the sale, the insider now owns 56,882 shares in the company, valued at approximately $5,292,870.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Fred Hand sold 8,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $87.80, for a total transaction of $702,400.00. Following the sale, the insider now owns 76,309 shares in the company, valued at approximately $6,699,930.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,790 shares of company stock worth $7,830,494. Company insiders own 2.60% of the company’s stock.
Burlington Stores Inc (BURL) opened at 89.42 on Thursday. Burlington Stores Inc has a 12-month low of $68.94 and a 12-month high of $104.07. The firm’s 50-day moving average is $86.55 and its 200 day moving average is $92.38. The firm has a market cap of $6.09 billion, a P/E ratio of 24.70 and a beta of 0.51.
Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.22. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast 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 share buyback plan on Thursday, August 24th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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