Burlington Stores, Inc. (BURL) Shares Sold by Chase Investment Counsel Corp
Chase Investment Counsel Corp lessened its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,966 shares of the company’s stock after selling 8,585 shares during the period. Chase Investment Counsel Corp’s holdings in Burlington Stores were worth $3,051,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. purchased a new stake in shares of Burlington Stores in the 3rd quarter valued at $143,000. Advisor Group Inc. lifted its stake in shares of Burlington Stores by 9.2% in the 2nd quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock valued at $139,000 after purchasing an additional 128 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Burlington Stores by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock valued at $208,000 after purchasing an additional 210 shares during the period. Gilbert & Cook Inc. acquired a new position in shares of Burlington Stores in the 2nd quarter valued at $210,000. Finally, Sanders Morris Harris LLC acquired a new position in shares of Burlington Stores in the 3rd quarter valued at $239,000.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, November 1st. Cowen and Company set a $105.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $115.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Burlington Stores from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, SunTrust Banks, Inc. set a $109.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Monday, October 16th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $105.66.
Shares of Burlington Stores, Inc. (NYSE BURL) traded down $0.08 on Friday, hitting $98.65. 234,653 shares of the stock were exchanged, compared to its average volume of 1,074,358. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of -13.31. The stock has a market capitalization of $6,725.46, a price-to-earnings ratio of 26.14, a PEG ratio of 1.32 and a beta of 0.51. Burlington Stores, Inc. has a twelve month low of $71.41 and a twelve month high of $104.07.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.22. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.39 EPS. Burlington Stores’s quarterly revenue was up 8.6% on a year-over-year basis. analysts expect that Burlington Stores, Inc. will post 4.24 earnings per share for the current fiscal year.
Burlington Stores announced that its Board of Directors has approved a stock repurchase program on Thursday, August 24th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other Burlington Stores news, insider Fred Hand sold 8,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $87.80, for a total transaction of $702,400.00. Following the sale, the insider now directly owns 76,309 shares in the company, valued at approximately $6,699,930.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joyce Manning Magrini sold 2,400 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $88.00, for a total transaction of $211,200.00. Following the sale, the insider now owns 49,914 shares in the company, valued at $4,392,432. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,922 shares of company stock worth $6,082,550. 2.60% of the stock is currently owned by insiders.
Burlington Stores 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.
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