Point72 Asset Management L.P. Sells 54,028 Shares of Burlington Stores, Inc. (NYSE:BURL)

Point72 Asset Management L.P. reduced its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 51.3% in the second quarter, HoldingsChannel.com reports. The firm owned 51,262 shares of the company’s stock after selling 54,028 shares during the period. Point72 Asset Management L.P.’s holdings in Burlington Stores were worth $12,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in Burlington Stores by 7.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 56,326 shares of the company’s stock valued at $13,073,000 after acquiring an additional 3,867 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Burlington Stores during the first quarter worth about $1,819,000. American International Group Inc. grew its position in Burlington Stores by 7,754.2% in the 4th quarter. American International Group Inc. now owns 88,203 shares of the company’s stock worth $17,154,000 after purchasing an additional 87,080 shares in the last quarter. Tidal Investments LLC increased its stake in Burlington Stores by 178.4% in the 1st quarter. Tidal Investments LLC now owns 6,163 shares of the company’s stock valued at $1,431,000 after buying an additional 3,949 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Burlington Stores during the 4th quarter worth approximately $4,708,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Loop Capital boosted their price objective on Burlington Stores from $270.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America boosted their price target on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 30th. The Goldman Sachs Group raised their price objective on shares of Burlington Stores from $278.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their target price on shares of Burlington Stores from $300.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Morgan Stanley lifted their price target on shares of Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $294.94.

Burlington Stores Stock Performance

Burlington Stores stock opened at $263.43 on Tuesday. The firm’s 50 day simple moving average is $263.58 and its 200 day simple moving average is $232.09. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 1.15. Burlington Stores, Inc. has a 1-year low of $115.66 and a 1-year high of $282.49. The firm has a market capitalization of $16.81 billion, a PE ratio of 44.13, a price-to-earnings-growth ratio of 1.39 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts expect that Burlington Stores, Inc. will post 7.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.