Eastern Bank Sells 542 Shares of Burlington Stores, Inc. (NYSE:BURL)

Eastern Bank reduced its stake in Burlington Stores, Inc. (NYSE:BURL) by 40.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 794 shares of the company’s stock after selling 542 shares during the quarter. Eastern Bank’s holdings in Burlington Stores were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BURL. Crewe Advisors LLC purchased a new stake in Burlington Stores in the second quarter worth about $25,000. ORG Partners LLC purchased a new stake in shares of Burlington Stores in the second quarter worth about $38,000. Blue Trust Inc. grew its holdings in 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. American National Bank bought a new stake in Burlington Stores in the 2nd quarter worth approximately $47,000. Finally, UMB Bank n.a. raised its holdings in shares of Burlington Stores by 391.7% during the 3rd quarter. UMB Bank n.a. now owns 177 shares of the company’s stock worth $47,000 after acquiring an additional 141 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on BURL shares. Bank of America boosted their price objective on shares of Burlington Stores from $275.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 30th. TD Cowen upped their target price on shares of Burlington Stores from $279.00 to $288.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Citigroup lifted their price target on shares of Burlington Stores from $276.00 to $313.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley increased their price objective on Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Burlington Stores from $284.00 to $288.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $294.94.

Insider Activity at Burlington Stores

In other 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 directly owns 61,907 shares in the company, valued at $15,809,190.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Paul Sullivan sold 1,705 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the transaction, the director now directly owns 7,393 shares in the company, valued at $2,048,230.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Jennifer Vecchio sold 494 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $15,809,190.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,283 shares of company stock valued at $619,599. 0.91% of the stock is owned by insiders.

Burlington Stores Trading Down 1.1 %

NYSE BURL opened at $252.89 on Friday. Burlington Stores, Inc. has a 12 month low of $116.33 and a 12 month high of $282.49. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 42.36, a price-to-earnings-growth ratio of 1.28 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 0.48. The firm’s fifty day moving average price is $264.48 and its 200 day moving average price is $236.08.

Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, August 29th. The company reported $1.20 EPS for the quarter, topping 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 business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. On average, sell-side analysts expect that Burlington Stores, Inc. will post 7.91 earnings per share for the current fiscal year.

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.