TD Asset Management Inc Trims Stock Position in Burlington Stores, Inc. $BURL

TD Asset Management Inc decreased its position in Burlington Stores, Inc. (NYSE:BURL) by 1.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 177,836 shares of the company’s stock after selling 2,544 shares during the period. TD Asset Management Inc owned 0.28% of Burlington Stores worth $45,259,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BURL. Norges Bank bought a new stake in Burlington Stores during the 2nd quarter valued at $171,893,000. Vanguard Group Inc. raised its holdings in shares of Burlington Stores by 3.5% in the third quarter. Vanguard Group Inc. now owns 6,782,201 shares of the company’s stock valued at $1,726,070,000 after acquiring an additional 232,358 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Burlington Stores in the second quarter worth about $49,702,000. SRS Investment Management LLC grew its holdings in Burlington Stores by 15.9% during the 2nd quarter. SRS Investment Management LLC now owns 1,472,137 shares of the company’s stock worth $342,478,000 after acquiring an additional 201,716 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Burlington Stores during the 3rd quarter valued at about $33,403,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BURL. UBS Group reaffirmed a “buy” rating on shares of Burlington Stores in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burlington Stores in a report on Wednesday, January 21st. Citigroup decreased their price objective on Burlington Stores from $358.00 to $351.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Sanford C. Bernstein set a $350.00 price objective on Burlington Stores and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group set a $331.00 target price on shares of Burlington Stores in a report on Wednesday, November 26th. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $338.44.

Burlington Stores Price Performance

NYSE BURL opened at $306.40 on Friday. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 1.74 and a beta of 1.74. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.21 and a quick ratio of 0.46. The stock’s fifty day moving average price is $301.18 and its 200 day moving average price is $282.15. Burlington Stores, Inc. has a 1 year low of $212.92 and a 1 year high of $332.20.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Tuesday, November 25th. The company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. Burlington Stores had a return on equity of 41.02% and a net margin of 5.01%.The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that Burlington Stores, Inc. will post 7.93 earnings per share for the current year.

Burlington Stores Company 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.