Victory Capital Management Inc. Increases Position in Burlington Stores, Inc. (NYSE:BURL)

Victory Capital Management Inc. boosted its holdings in shares of Burlington Stores, Inc. (NYSE:BURL) by 585.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,565 shares of the company’s stock after purchasing an additional 145,672 shares during the quarter. Victory Capital Management Inc.’s holdings in Burlington Stores were worth $40,936,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of Burlington Stores by 8,590.4% during the 2nd quarter. National Bank of Canada FI now owns 20,857 shares of the company’s stock worth $4,860,000 after buying an additional 20,617 shares during the period. Legacy Capital Wealth Partners LLC acquired a new position in Burlington Stores during the second quarter worth $239,000. Versor Investments LP purchased a new position in Burlington Stores during the second quarter valued at $318,000. CIBC Asset Management Inc grew its position in shares of Burlington Stores by 3.8% in the second quarter. CIBC Asset Management Inc now owns 2,167 shares of the company’s stock valued at $520,000 after purchasing an additional 79 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Burlington Stores during the second quarter worth about $958,000.

Insider Buying and Selling

In other Burlington Stores news, CMO Jennifer Vecchio sold 494 shares of the business’s 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 sale, the chief marketing officer now owns 61,907 shares of the company’s stock, valued at $15,809,190.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Loop Capital raised their price target on shares of Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, August 30th. TD Cowen lifted their price target on Burlington Stores from $279.00 to $288.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. boosted their price target on Burlington Stores from $284.00 to $288.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their price objective on Burlington Stores from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Barclays upped their target price on shares of Burlington Stores from $274.00 to $327.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Burlington Stores has a consensus rating of “Moderate Buy” and an average price target of $294.94.

Burlington Stores Stock Performance

Shares of Burlington Stores stock opened at $262.93 on Tuesday. The firm has a market cap of $16.74 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 1.34 and a beta of 1.64. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. Burlington Stores, Inc. has a 52 week low of $115.66 and a 52 week high of $282.49. The business’s fifty day simple moving average is $255.29 and its 200-day simple moving average is $225.74.

Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 29th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Burlington Stores’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts forecast that Burlington Stores, Inc. will post 7.87 earnings per share for the current year.

Burlington Stores Company Profile

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.