Waddell & Reed Financial Inc. lowered its stake in shares of Burlington Stores Inc (NYSE:BURL) by 46.0% in the 2nd quarter, Holdings Channel reports. The firm owned 237,630 shares of the company’s stock after selling 202,450 shares during the quarter. Waddell & Reed Financial Inc.’s holdings in Burlington Stores were worth $35,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. People s United Financial Inc. grew its stake in Burlington Stores by 0.5% in the 2nd quarter. People s United Financial Inc. now owns 60,086 shares of the company’s stock valued at $9,045,000 after buying an additional 324 shares in the last quarter. Aperio Group LLC grew its stake in Burlington Stores by 2.6% in the 1st quarter. Aperio Group LLC now owns 14,959 shares of the company’s stock valued at $1,992,000 after buying an additional 372 shares in the last quarter. Denver Investment Advisors LLC grew its stake in Burlington Stores by 6.8% in the 1st quarter. Denver Investment Advisors LLC now owns 7,163 shares of the company’s stock valued at $954,000 after buying an additional 456 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Burlington Stores by 30.5% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 2,000 shares of the company’s stock valued at $301,000 after buying an additional 467 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Burlington Stores by 12.7% in the 1st quarter. M&T Bank Corp now owns 4,378 shares of the company’s stock valued at $583,000 after buying an additional 494 shares in the last quarter.

In other news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction on Monday, September 10th. The shares were sold at an average price of $168.28, for a total transaction of $3,365,600.00. Following the completion of the sale, the chief executive officer now directly owns 322,973 shares of the company’s stock, valued at approximately $54,349,896.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Crimmins sold 2,200 shares of Burlington Stores stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $173.55, for a total transaction of $381,810.00. The disclosure for this sale can be found here. Insiders have sold a total of 81,271 shares of company stock valued at $13,116,332 over the last 90 days. Company insiders own 1.91% of the company’s stock.

BURL opened at $160.90 on Tuesday. The firm has a market cap of $11.08 billion, a PE ratio of 36.82, a PEG ratio of 1.31 and a beta of 0.44. 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 Inc has a one year low of $87.20 and a one year high of $175.48.

Burlington Stores (NYSE:BURL) last released its quarterly earnings results on Thursday, August 30th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.49 billion. Burlington Stores had a net margin of 6.85% and a return on equity of 606.69%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. sell-side analysts forecast that Burlington Stores Inc will post 6.21 EPS for the current fiscal year.

A number of research analysts recently weighed in on the stock. Loop Capital reiterated a “buy” rating and issued a $170.00 price objective (up from $156.00) on shares of Burlington Stores in a research note on Wednesday, June 27th. Morgan Stanley lifted their price objective on shares of Burlington Stores from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Telsey Advisory Group lifted their price objective on shares of Burlington Stores from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, June 1st. Citigroup lifted their price objective on shares of Burlington Stores from $135.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, June 1st. Finally, Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Monday, June 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $171.05.

About Burlington Stores

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.

Further Reading: Growth Stocks

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

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