Palisade Capital Management LLC NJ Raises Position in Burlington Stores, Inc. (BURL)
Palisade Capital Management LLC NJ boosted its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 111,381 shares of the company’s stock after buying an additional 2,666 shares during the period. Palisade Capital Management LLC NJ’s holdings in Burlington Stores were worth $10,246,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clearbridge Investments LLC raised its position in shares of Burlington Stores by 7,886.9% in the first quarter. Clearbridge Investments LLC now owns 248,792 shares of the company’s stock worth $24,205,000 after buying an additional 245,677 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Burlington Stores by 51.1% in the first quarter. Parametric Portfolio Associates LLC now owns 110,634 shares of the company’s stock worth $10,764,000 after buying an additional 37,439 shares in the last quarter. FMR LLC raised its position in shares of Burlington Stores by 13.3% in the first quarter. FMR LLC now owns 565,678 shares of the company’s stock worth $55,035,000 after buying an additional 66,428 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Burlington Stores during the first quarter worth $241,000. Finally, Nuveen Asset Management LLC raised its position in shares of Burlington Stores by 5.4% in the first quarter. Nuveen Asset Management LLC now owns 75,386 shares of the company’s stock worth $7,334,000 after buying an additional 3,886 shares in the last quarter.
Burlington Stores, Inc. (NYSE BURL) opened at 87.00 on Tuesday. 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 price is $89.92 and its 200-day moving average price is $92.17. The stock has a market cap of $6.01 billion, a P/E ratio of 26.99 and a beta of 0.51.
Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, May 25th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Burlington Stores had a negative return on equity of 294.39% and a net margin of 4.08%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Burlington Stores, Inc. will post $3.97 earnings per share for the current year.
BURL has been the topic of a number of research reports. BMO Capital Markets set a $96.00 price objective on Burlington Stores and gave the company a “buy” rating in a report on Friday, May 26th. Wolfe Research initiated coverage on Burlington Stores in a research note on Friday, April 28th. They issued an “outperform” rating and a $113.00 target price on the stock. TheStreet downgraded Burlington Stores from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Citigroup Inc. lowered their target price on Burlington Stores from $100.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 30th. Finally, BidaskClub downgraded Burlington Stores from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $104.62.
In other Burlington Stores news, insider Fred Hand sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $100.47, for a total transaction of $1,255,875.00. Following the transaction, the insider now owns 80,809 shares in the company, valued at approximately $8,118,880.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marc Katz sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $96.80, for a total value of $968,000.00. Following the transaction, the chief financial officer now owns 123,555 shares in the company, valued at approximately $11,960,124. The disclosure for this sale can be found here. Insiders have sold a total of 49,168 shares of company stock worth $4,591,891 in the last quarter. 2.60% of the stock is currently owned by insiders.
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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