The Manufacturers Life Insurance Company grew its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 10.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,257 shares of the company’s stock after acquiring an additional 210 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Burlington Stores were worth $208,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisor Group Inc. boosted its holdings in shares of Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after buying an additional 128 shares during the last quarter. Sciencast Management LP purchased a new position in shares of Burlington Stores in the second quarter worth approximately $231,000. Stephens Inc. AR boosted its holdings in shares of Burlington Stores by 6,389.7% in the second quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock worth $233,000 after buying an additional 2,492 shares during the last quarter. TrimTabs Asset Management LLC boosted its holdings in shares of Burlington Stores by 103.7% in the second quarter. TrimTabs Asset Management LLC now owns 2,552 shares of the company’s stock worth $235,000 after buying an additional 1,299 shares during the last quarter. Finally, Cigna Investments Inc. New purchased a new position in shares of Burlington Stores in the second quarter worth approximately $265,000.
BURL has been the topic of several analyst reports. Deutsche Bank initiated coverage on shares of Burlington Stores in a report on Thursday, September 14th. They set a “buy” rating and a $108.00 price target on the stock. Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Wednesday, November 1st. Cowen reaffirmed a “buy” rating and set a $115.00 price target on shares of Burlington Stores in a report on Tuesday, November 21st. Buckingham Research reaffirmed a “buy” rating and set a $107.00 price target on shares of Burlington Stores in a report on Thursday, October 19th. Finally, TheStreet raised shares of Burlington Stores from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Burlington Stores presently has a consensus rating of “Buy” and an average price target of $109.49.
Shares of Burlington Stores, Inc. (NYSE:BURL) opened at $112.89 on Monday. Burlington Stores, Inc. has a 1 year low of $79.07 and a 1 year high of $114.99. The firm has a market cap of $7,704.50, a price-to-earnings ratio of 28.73, a P/E/G ratio of 1.51 and a beta of 0.56. The company has a debt-to-equity ratio of -11.71, a current ratio of 1.02 and a quick ratio of 0.22.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Burlington Stores had a net margin of 4.61% and a negative return on equity of 374.86%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. Burlington Stores’s quarterly revenue was up 7.1% on a year-over-year basis. analysts forecast that Burlington Stores, Inc. will post 4.27 EPS for the current fiscal year.
Burlington Stores announced that its Board of Directors has initiated a share buyback plan on Thursday, August 24th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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Burlington Stores Profile
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
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