CIBC Asset Management Inc Sells 1,090 Shares of Burlington Stores Inc (BURL)

CIBC Asset Management Inc lessened its holdings in shares of Burlington Stores Inc (NYSE:BURL) by 4.0% in the third quarter, Holdings Channel reports. The institutional investor owned 26,366 shares of the company’s stock after selling 1,090 shares during the quarter. CIBC Asset Management Inc’s holdings in Burlington Stores were worth $4,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in BURL. FMR LLC boosted its stake in Burlington Stores by 39.7% during the 2nd quarter. FMR LLC now owns 3,445,692 shares of the company’s stock valued at $518,680,000 after purchasing an additional 979,815 shares during the period. BlackRock Inc. boosted its stake in Burlington Stores by 6.8% during the 2nd quarter. BlackRock Inc. now owns 3,135,632 shares of the company’s stock valued at $472,007,000 after purchasing an additional 199,902 shares during the period. Wells Fargo & Company MN boosted its stake in Burlington Stores by 5.6% during the 3rd quarter. Wells Fargo & Company MN now owns 2,154,801 shares of the company’s stock valued at $351,061,000 after purchasing an additional 114,908 shares during the period. Renaissance Technologies LLC boosted its stake in Burlington Stores by 1,187.5% during the 2nd quarter. Renaissance Technologies LLC now owns 875,500 shares of the company’s stock valued at $131,789,000 after purchasing an additional 807,500 shares during the period. Finally, Morgan Stanley boosted its stake in Burlington Stores by 7.4% during the 2nd quarter. Morgan Stanley now owns 688,536 shares of the company’s stock valued at $103,646,000 after purchasing an additional 47,502 shares during the period.

In related news, insider Fred Hand sold 4,071 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $173.00, for a total transaction of $704,283.00. Following the completion of the sale, the insider now directly owns 67,903 shares of the company’s stock, valued at $11,747,219. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $151.09, for a total transaction of $3,021,800.00. Following the sale, the chief executive officer now directly owns 322,973 shares of the company’s stock, valued at $48,797,990.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,413 shares of company stock valued at $13,821,120. Company insiders own 1.91% of the company’s stock.

Shares of NYSE:BURL opened at $173.62 on Friday. The company has a market capitalization of $11.63 billion, a PE ratio of 32.60, a P/E/G ratio of 1.33 and a beta of 0.37. Burlington Stores Inc has a twelve month low of $96.04 and a twelve month high of $177.88. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 7.54.

Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, August 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.96 by $0.19. Burlington Stores had a net margin of 6.85% and a return on equity of 606.69%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Burlington Stores Inc will post 6.22 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Cowen set a $195.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Citigroup boosted their target price on shares of Burlington Stores from $158.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, August 31st. Buckingham Research boosted their target price on shares of Burlington Stores from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Finally, MKM Partners set a $174.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a research note on Friday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $172.75.

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Burlington Stores Company Profile

Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company offers fashion-focused merchandise, including women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, coats, and gifts, as well as baby, home, and beauty products. As of February 3, 2018, it operated 629 stores, including an Internet store in 45 states and Puerto Rico.

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Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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