Candriam S.C.A. cut its position in shares of Burlington Stores, Inc. (NYSE:BURL – Free Report) by 91.9% during the 1st quarter, Holdings Channel reports. The firm owned 3,241 shares of the company’s stock after selling 36,998 shares during the period. Candriam S.C.A.’s holdings in Burlington Stores were worth $1,055,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Burlington Stores by 303,059.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,912,936 shares of the company’s stock valued at $552,552,000 after buying an additional 1,912,305 shares in the last quarter. Norges Bank acquired a new position in Burlington Stores during the fourth quarter worth about $224,971,000. Alyeska Investment Group L.P. raised its position in Burlington Stores by 103.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,285,336 shares of the company’s stock worth $371,269,000 after acquiring an additional 653,718 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Burlington Stores by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,828,877 shares of the company’s stock worth $817,122,000 after acquiring an additional 386,615 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Burlington Stores by 121.0% in the 4th quarter. Wellington Management Group LLP now owns 595,961 shares of the company’s stock valued at $172,143,000 after acquiring an additional 326,328 shares during the last quarter.
Burlington Stores Trading Up 3.2%
Shares of NYSE BURL opened at $344.97 on Thursday. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 1.03. Burlington Stores, Inc. has a 12 month low of $240.49 and a 12 month high of $351.85. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 1.80 and a beta of 1.46. The business has a fifty day simple moving average of $318.98 and a 200-day simple moving average of $314.31.
Insiders Place Their Bets
In other Burlington Stores news, CMO Jennifer Vecchio sold 20,920 shares of the firm’s stock in a transaction dated 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 in the company, valued at $27,669,736.01. This trade represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Stephen Ferroni sold 2,343 shares of Burlington Stores stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $337.22, for a total transaction of $790,106.46. Following the completion of the transaction, the chief accounting officer directly owned 1,391 shares in the company, valued at approximately $469,073.02. This trade represents a 62.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,714 shares of company stock worth $9,661,022 over the last ninety days. 1.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms have recently weighed in on BURL. Wall Street Zen lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial boosted their target price on shares of Burlington Stores from $305.00 to $310.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Burlington Stores from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 7th. Telsey Advisory Group restated an “outperform” rating and set a $365.00 target price on shares of Burlington Stores in a report on Tuesday, March 31st. Finally, Barclays lifted their price target on shares of Burlington Stores from $365.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Burlington Stores presently has a consensus rating of “Moderate Buy” and an average price target of $353.56.
View Our Latest Stock Analysis on BURL
Burlington Stores Profile
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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