Fred Alger Management LLC Sells 83,425 Shares of Burlington Stores, Inc. (NYSE:BURL)

Fred Alger Management LLC cut its holdings in Burlington Stores, Inc. (NYSE:BURL) by 25.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 249,449 shares of the company’s stock after selling 83,425 shares during the period. Fred Alger Management LLC’s holdings in Burlington Stores were worth $59,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Burlington Stores in the 2nd quarter worth $25,000. ORG Partners LLC purchased a new stake in Burlington Stores in the second quarter worth about $38,000. Rise Advisors LLC bought a new position in shares of Burlington Stores in the first quarter worth about $40,000. Blue Trust Inc. lifted its position in shares of Burlington Stores by 619.2% during the 2nd quarter. Blue Trust Inc. now owns 187 shares of the company’s stock valued at $43,000 after buying an additional 161 shares in the last quarter. Finally, American National Bank bought a new position in shares of Burlington Stores during the 2nd quarter valued at approximately $47,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Burlington Stores from $274.00 to $327.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. UBS Group raised their price objective on shares of Burlington Stores from $212.00 to $238.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. Robert W. Baird upped their target price on shares of Burlington Stores from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. TD Cowen raised their price target on Burlington Stores from $279.00 to $288.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Loop Capital boosted their price objective on Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $294.94.

Burlington Stores Stock Up 0.4 %

NYSE BURL opened at $273.02 on Wednesday. Burlington Stores, Inc. has a 52 week low of $115.66 and a 52 week high of $282.49. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. The company has a fifty day moving average of $261.80 and a two-hundred day moving average of $230.64. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 1.37 and a beta of 1.64.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.25. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.42 billion. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. On average, analysts predict that Burlington Stores, Inc. will post 7.86 earnings per share for the current year.

Insider Activity

In related news, CMO Jennifer Vecchio sold 494 shares of Burlington Stores stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $255.37, for a total transaction of $126,152.78. Following the completion of the sale, the chief marketing officer now owns 61,907 shares in the company, valued at approximately $15,809,190.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Burlington Stores news, CMO Jennifer Vecchio sold 494 shares of the company’s stock in a transaction 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 sale, the chief marketing officer now directly owns 61,907 shares in the company, valued at approximately $15,809,190.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Sullivan sold 1,705 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $277.05, for a total value of $472,370.25. Following the transaction, the director now directly owns 7,393 shares in the company, valued at approximately $2,048,230.65. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

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.