Meadow Creek Investment Management LLC trimmed its holdings in shares of Burlington Stores Inc (NYSE:BURL) by 68.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,048 shares of the company’s stock after selling 35,326 shares during the period. Meadow Creek Investment Management LLC’s holdings in Burlington Stores were worth $1,974,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BURL. Focused Wealth Management Inc bought a new stake in Burlington Stores in the 4th quarter valued at about $101,000. YorkBridge Wealth Partners LLC bought a new stake in Burlington Stores in the 4th quarter valued at about $106,000. Captrust Financial Advisors bought a new stake in Burlington Stores in the 4th quarter valued at about $110,000. FNY Managed Accounts LLC bought a new stake in Burlington Stores in the 3rd quarter valued at about $114,000. Finally, American International Group Inc. bought a new stake in Burlington Stores in the 4th quarter valued at about $191,000.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $121.54, for a total transaction of $2,430,800.00. Following the completion of the transaction, the chief executive officer now owns 406,808 shares of the company’s stock, valued at $49,443,444.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joyce Manning Magrini sold 2,400 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $122.98, for a total value of $295,152.00. The disclosure for this sale can be found here. Insiders have sold 67,300 shares of company stock valued at $8,208,236 in the last three months. 2.60% of the stock is owned by insiders.
Shares of Burlington Stores stock opened at $126.99 on Monday. Burlington Stores Inc has a 52-week low of $79.07 and a 52-week high of $130.00. The firm has a market capitalization of $8,666.80, a PE ratio of 23.05, a PEG ratio of 1.18 and a beta of 0.48. 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 (NYSE:BURL) last announced its quarterly earnings results on Thursday, March 8th. The company reported $2.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.08. Burlington Stores had a negative return on equity of 367.54% and a net margin of 6.31%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. sell-side analysts predict that Burlington Stores Inc will post 5.77 EPS for the current year.
BURL has been the topic of a number of research reports. Telsey Advisory Group boosted their price objective on Burlington Stores from $110.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 22nd. Royal Bank of Canada restated a “buy” rating and issued a $115.00 price objective (up from $104.00) on shares of Burlington Stores in a research note on Wednesday, November 22nd. SunTrust Banks boosted their price objective on Burlington Stores from $109.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Morgan Stanley boosted their price objective on Burlington Stores from $107.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 22nd. Finally, Cowen restated a “buy” rating and issued a $115.00 price objective on shares of Burlington Stores in a research note on Tuesday, November 21st. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $129.43.
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About Burlington Stores
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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