CIBC Asset Management Inc Acquires 79 Shares of Burlington Stores, Inc. (NYSE:BURL)

CIBC Asset Management Inc grew its holdings in Burlington Stores, Inc. (NYSE:BURL) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,167 shares of the company’s stock after purchasing an additional 79 shares during the quarter. CIBC Asset Management Inc’s holdings in Burlington Stores were worth $520,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in Burlington Stores by 34.0% in the fourth quarter. Victory Capital Management Inc. now owns 28,989 shares of the company’s stock worth $5,638,000 after purchasing an additional 7,349 shares in the last quarter. Natixis Advisors L.P. bought a new stake in shares of Burlington Stores during the 4th quarter worth about $2,099,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Burlington Stores during the 4th quarter valued at about $145,000. Charles Schwab Investment Management Inc. raised its stake in shares of Burlington Stores by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,332 shares of the company’s stock valued at $77,079,000 after acquiring an additional 13,792 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Burlington Stores in the 4th quarter worth approximately $351,000.

Burlington Stores Stock Down 2.8 %

Shares of BURL stock opened at $259.92 on Friday. The stock has a market cap of $16.59 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 1.40 and a beta of 1.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 0.52. The stock has a fifty day moving average price of $254.69 and a 200 day moving average price of $225.09. Burlington Stores, Inc. has a one year low of $115.66 and a one year high of $282.49.

Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, August 29th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.25. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.42 billion. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Analysts predict that Burlington Stores, Inc. will post 7.79 earnings per share for the current year.

Insider Buying and Selling at Burlington Stores

In other news, CMO Jennifer Vecchio sold 494 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $255.37, for a total value of $126,152.78. Following the completion of the transaction, the chief marketing officer now directly owns 61,907 shares of the company’s stock, valued at approximately $15,809,190.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BURL. Loop Capital lifted their price target on shares of Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets lifted their target price on shares of Burlington Stores from $227.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. TD Cowen boosted their target price on shares of Burlington Stores from $279.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America raised their price target on Burlington Stores from $275.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $300.00 price objective on shares of Burlington Stores in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Burlington Stores presently has an average rating of “Moderate Buy” and an average price target of $294.94.

About Burlington Stores

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.