Oppenheimer Asset Management Inc. Has $1.26 Million Holdings in Burlington Stores, Inc. (BURL)

Oppenheimer Asset Management Inc. cut its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 31.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,212 shares of the company’s stock after selling 6,026 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Burlington Stores were worth $1,261,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Balyasny Asset Management LLC increased its position in shares of Burlington Stores by 123.3% during the second quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock valued at $129,570,000 after acquiring an additional 777,645 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Burlington Stores by 23.9% during the second quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock valued at $264,896,000 after acquiring an additional 554,717 shares during the last quarter. Samlyn Capital LLC increased its position in shares of Burlington Stores by 89.1% during the second quarter. Samlyn Capital LLC now owns 968,713 shares of the company’s stock valued at $89,112,000 after acquiring an additional 456,305 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Burlington Stores by 106.4% during the second quarter. Prudential Financial Inc. now owns 799,810 shares of the company’s stock valued at $73,575,000 after acquiring an additional 412,380 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Burlington Stores by 582.2% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 483,077 shares of the company’s stock valued at $44,438,000 after acquiring an additional 412,262 shares during the last quarter.

A number of brokerages have weighed in on BURL. Cowen set a $132.00 price target on shares of Burlington Stores and gave the company a “buy” rating in a research report on Monday. Telsey Advisory Group lifted their price objective on shares of Burlington Stores from $110.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Royal Bank of Canada restated a “buy” rating and issued a $115.00 price objective (up previously from $104.00) on shares of Burlington Stores in a report on Wednesday, November 22nd. SunTrust Banks lifted their price objective on shares of Burlington Stores from $109.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Finally, Morgan Stanley lifted their price objective on shares of Burlington Stores from $107.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 22nd. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Burlington Stores currently has a consensus rating of “Buy” and an average price target of $110.49.

Burlington Stores, Inc. (BURL) opened at $110.34 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.22 and a debt-to-equity ratio of -11.71. Burlington Stores, Inc. has a twelve month low of $79.07 and a twelve month high of $114.99. The company has a market cap of $7,530.00, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.47 and a beta of 0.56.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Burlington Stores had a net margin of 4.61% and a negative return on equity of 374.86%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. equities analysts forecast that Burlington Stores, Inc. will post 4.27 earnings per share for the current fiscal year.

Burlington Stores announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 24th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $111.90, for a total transaction of $2,238,000.00. Following the completion of the transaction, the chief executive officer now owns 437,608 shares in the company, valued at approximately $48,968,335.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joyce Manning Magrini sold 2,400 shares of the business’s stock in a transaction that occurred on 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. Insiders have sold a total of 87,701 shares of company stock valued at $8,870,690 in the last quarter. 2.60% of the stock is currently owned by company insiders.

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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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