Daiwa Securities Group Inc. Decreases Stock Holdings in Burlington Stores, Inc. (NYSE:BURL)

Posted by on May 4th, 2023

Daiwa Securities Group Inc. reduced its stake in shares of Burlington Stores, Inc. (NYSE:BURL – Get Rating) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,483 shares of the company’s stock after selling 141 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Burlington Stores were worth $1,112,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in Burlington Stores by 5.8% in the first quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock valued at $1,222,000 after buying an additional 349 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Burlington Stores in the first quarter valued at about $246,000. MetLife Investment Management LLC purchased a new stake in Burlington Stores in the first quarter valued at about $751,000. Yousif Capital Management LLC raised its stake in Burlington Stores by 8.5% in the first quarter. Yousif Capital Management LLC now owns 1,538 shares of the company’s stock valued at $280,000 after buying an additional 120 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Burlington Stores by 14.9% in the first quarter. Raymond James Trust N.A. now owns 1,471 shares of the company’s stock valued at $268,000 after buying an additional 191 shares during the last quarter.

Insider Activity

In other news, Director William P. Mcnamara sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $212.26, for a total value of $106,130.00. Following the transaction, the director now owns 8,154 shares in the company, valued at $1,730,768.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director William P. Mcnamara sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $212.26, for a total value of $106,130.00. Following the transaction, the director now owns 8,154 shares in the company, valued at $1,730,768.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Jennifer Vecchio sold 47,153 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $209.46, for a total value of $9,876,667.38. Following the completion of the transaction, the chief marketing officer now owns 55,173 shares in the company, valued at approximately $11,556,536.58. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BURL. Credit Suisse Group increased their price target on Burlington Stores from $205.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, March 3rd. Telsey Advisory Group reissued an “outperform” rating and issued a $250.00 price objective on shares of Burlington Stores in a report on Friday, March 3rd. OTR Global raised Burlington Stores from a “mixed” rating to a “positive” rating in a report on Wednesday, February 1st. Wells Fargo & Company increased their price objective on Burlington Stores from $225.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Burlington Stores from $214.00 to $235.00 and gave the company a “buy” rating in a report on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.07.

Burlington Stores Stock Performance

Shares of BURL stock opened at $184.73 on Thursday. The company has a market capitalization of $11.99 billion, a P/E ratio of 52.63, a P/E/G ratio of 0.96 and a beta of 1.10. The business’s 50 day moving average is $201.85 and its two-hundred day moving average is $195.14. The company has a current ratio of 1.19, a quick ratio of 0.58 and a debt-to-equity ratio of 1.84. Burlington Stores, Inc. has a 12-month low of $106.47 and a 12-month high of $239.94.

Burlington Stores (NYSE:BURL – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.24. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.61 billion. Burlington Stores had a return on equity of 40.35% and a net margin of 2.64%. Burlington Stores’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.53 earnings per share. Analysts expect that Burlington Stores, Inc. will post 6.02 EPS for the current fiscal year.

About Burlington Stores

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Burlington Stores, Inc engages in the retail of off-price apparel and home products. It offers women’s ready-to-wear apparel, accessories, footwear, menswear, youth apparel, baby, coats, beauty, toys, and gifts. It operates through the following segments: Ladies Apparel, Accessories and Shoes, Home, Mens Apparel, Kids Apparel and Baby, and Outerwear.

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

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