Louisiana State Employees Retirement System acquired a new stake in shares of Burlington Stores, Inc. (NYSE:BURL – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,000 shares of the company’s stock, valued at approximately $5,857,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in shares of Burlington Stores in the 4th quarter valued at $25,000. Harbour Investments Inc. raised its holdings in shares of Burlington Stores by 44.7% during the 4th quarter. Harbour Investments Inc. now owns 110 shares of the company’s stock worth $32,000 after buying an additional 34 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Burlington Stores during the 3rd quarter worth $28,000. Reflection Asset Management bought a new position in shares of Burlington Stores in the fourth quarter worth about $34,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Burlington Stores by 180.0% in the fourth quarter. Larson Financial Group LLC now owns 126 shares of the company’s stock worth $36,000 after acquiring an additional 81 shares during the last quarter.
Burlington Stores Price Performance
Shares of NYSE:BURL opened at $321.46 on Friday. Burlington Stores, Inc. has a 1-year low of $228.46 and a 1-year high of $351.85. The stock has a market cap of $20.23 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.75 and a beta of 1.46. The stock’s fifty day simple moving average is $321.25 and its two-hundred day simple moving average is $309.66. The company has a current ratio of 1.16, a quick ratio of 0.49 and a debt-to-equity ratio of 1.03.
Insider Activity at Burlington Stores
In related news, CMO Jennifer Vecchio sold 20,920 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $341.53, for a total value of $7,144,807.60. Following the completion of the transaction, the chief marketing officer directly owned 81,017 shares of the company’s stock, valued at approximately $27,669,736.01. This trade represents a 20.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Pasch sold 3,773 shares of Burlington Stores stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $317.21, for a total value of $1,196,833.33. Following the transaction, the insider directly owned 6,523 shares of the company’s stock, valued at $2,069,160.83. The trade was a 36.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,036 shares of company stock worth $9,131,747. Company insiders own 1.30% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on BURL. Evercore reaffirmed an “outperform” rating and set a $375.00 price target on shares of Burlington Stores in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Robert W. Baird boosted their price objective on Burlington Stores from $345.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $365.00 target price on shares of Burlington Stores in a report on Friday, May 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $435.00 price target on shares of Burlington Stores in a research note on Friday, May 29th. Fifteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.56.
Check Out Our Latest Analysis on Burlington Stores
About Burlington Stores
Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company’s merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington’s merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.
The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.
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