Oak Ridge Investments LLC Decreases Stock Position in Burlington Stores Inc (NYSE:BURL)
Oak Ridge Investments LLC cut its holdings in Burlington Stores Inc (NYSE:BURL) by 26.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,847 shares of the company’s stock after selling 21,440 shares during the quarter. Oak Ridge Investments LLC owned about 0.09% of Burlington Stores worth $9,642,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Capital World Investors purchased a new stake in Burlington Stores in the fourth quarter valued at about $806,428,000. Alliancebernstein L.P. grew its holdings in Burlington Stores by 16.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,503,585 shares of the company’s stock worth $570,892,000 after acquiring an additional 351,773 shares during the period. State Street Corp grew its holdings in Burlington Stores by 1.9% during the first quarter. State Street Corp now owns 1,440,178 shares of the company’s stock worth $228,211,000 after acquiring an additional 27,291 shares during the period. Parnassus Investments CA grew its holdings in Burlington Stores by 21.3% during the first quarter. Parnassus Investments CA now owns 834,071 shares of the company’s stock worth $132,167,000 after acquiring an additional 146,258 shares during the period. Finally, Atlanta Capital Management Co. L L C acquired a new stake in Burlington Stores during the first quarter worth about $126,083,000. Institutional investors own 99.71% of the company’s stock.
In related news, CMO Jennifer Vecchio sold 2,000 shares of Burlington Stores stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $150.01, for a total transaction of $300,020.00. Following the transaction, the chief marketing officer now owns 39,353 shares in the company, valued at $5,903,343.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.48% of the company’s stock.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($4.76) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.23) by ($3.53). Burlington Stores had a return on equity of 24.50% and a net margin of 0.83%. The company had revenue of $801.50 million for the quarter, compared to analysts’ expectations of $883.81 million. During the same quarter in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was down 51.0% compared to the same quarter last year. As a group, equities analysts forecast that Burlington Stores Inc will post -0.03 earnings per share for the current year.
BURL has been the topic of several analyst reports. TheStreet lowered Burlington Stores from a “b” rating to a “c” rating in a report on Thursday, May 28th. Telsey Advisory Group raised their price objective on Burlington Stores from $195.00 to $230.00 and gave the company a “market perform” rating in a report on Friday, May 29th. Guggenheim reissued a “hold” rating on shares of Burlington Stores in a report on Thursday, March 5th. Royal Bank of Canada raised their price objective on Burlington Stores from $184.00 to $250.00 in a report on Monday. Finally, DA Davidson raised their price objective on Burlington Stores from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 29th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Burlington Stores currently has an average rating of “Buy” and an average price target of $232.78.
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, toys, and gifts, as well as baby, home, and beauty products.
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