Assenagon Asset Management S.A. Reduces Stake in Burlington Stores, Inc. (NYSE:BURL)

Assenagon Asset Management S.A. decreased its holdings in shares of Burlington Stores, Inc. (NYSE:BURL) by 55.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,367 shares of the company’s stock after selling 114,893 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Burlington Stores were worth $24,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors lifted its position in shares of Burlington Stores by 1.5% during the 1st quarter. Capital International Investors now owns 7,394,746 shares of the company’s stock worth $1,716,986,000 after buying an additional 111,526 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Burlington Stores by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,684,245 shares of the company’s stock valued at $391,066,000 after acquiring an additional 12,238 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Burlington Stores by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 772,010 shares of the company’s stock valued at $185,282,000 after acquiring an additional 64,410 shares in the last quarter. Anomaly Capital Management LP grew its holdings in shares of Burlington Stores by 34.6% during the second quarter. Anomaly Capital Management LP now owns 730,175 shares of the company’s stock worth $175,242,000 after purchasing an additional 187,760 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Burlington Stores by 2.2% during the second quarter. Clearbridge Investments LLC now owns 663,527 shares of the company’s stock worth $159,246,000 after purchasing an additional 14,080 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on BURL shares. Barclays upped their target price on Burlington Stores from $274.00 to $327.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. The Goldman Sachs Group lifted their target price on shares of Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 30th. Bank of America increased their price target on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley lifted their price objective on shares of Burlington Stores from $284.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Loop Capital raised their target price on shares of Burlington Stores from $270.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $294.94.

Burlington Stores Price Performance

Burlington Stores stock opened at $251.65 on Friday. The firm’s 50-day moving average is $264.23 and its two-hundred day moving average is $236.44. 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 stock has a market capitalization of $16.06 billion, a P/E ratio of 42.15, a P/E/G ratio of 1.28 and a beta of 1.64. Burlington Stores, Inc. has a 12-month low of $116.33 and a 12-month high of $282.49.

Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, August 29th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.95 by $0.25. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. Burlington Stores’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Equities analysts predict that Burlington Stores, Inc. will post 7.91 earnings per share for the current year.

Insider Activity

In related news, CMO Jennifer Vecchio sold 494 shares of the stock in a transaction dated 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 approximately $15,809,190.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CMO Jennifer Vecchio sold 494 shares of the company’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 transaction, the chief marketing officer now owns 61,907 shares of the company’s stock, valued at approximately $15,809,190.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Sullivan sold 1,705 shares of Burlington Stores stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the completion of the transaction, the director now owns 7,393 shares in the company, valued at approximately $2,048,230.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,283 shares of company stock valued at $619,599 over the last quarter. Company 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.