Raymond James & Associates Has $8.64 Million Stake in Burlington Stores, Inc. (NYSE:BURL)

Posted by Defense World Staff on May 19th, 2023

Raymond James & Associates grew its holdings in shares of Burlington Stores, Inc. (NYSE:BURL – Get Rating) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,619 shares of the company’s stock after acquiring an additional 1,969 shares during the quarter. Raymond James & Associates owned 0.07% of Burlington Stores worth $8,641,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BURL. Artemis Investment Management LLP bought a new stake in shares of Burlington Stores during the fourth quarter worth about $77,761,000. Clearbridge Investments LLC grew its holdings in shares of Burlington Stores by 112.1% during the first quarter. Clearbridge Investments LLC now owns 565,509 shares of the company’s stock worth $103,019,000 after purchasing an additional 298,837 shares during the last quarter. DSM Capital Partners LLC bought a new stake in shares of Burlington Stores during the third quarter worth about $21,932,000. 1832 Asset Management L.P. grew its holdings in shares of Burlington Stores by 117.0% during the first quarter. 1832 Asset Management L.P. now owns 350,835 shares of the company’s stock worth $63,062,000 after purchasing an additional 189,158 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Burlington Stores during the first quarter worth about $32,791,000.

Insider Transactions at Burlington Stores

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Burlington Stores from $225.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Robert W. Baird upped their target price on Burlington Stores from $240.00 to $270.00 in a report on Friday, March 3rd. Barclays reduced their target price on Burlington Stores from $281.00 to $221.00 in a report on Tuesday, May 2nd. Credit Suisse Group upped their target price on Burlington Stores from $205.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, March 3rd. Finally, JPMorgan Chase & Co. cut their price target on Burlington Stores from $245.00 to $214.00 in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Burlington Stores presently has an average rating of “Moderate Buy” and a consensus target price of $225.94.

Burlington Stores Price Performance

Shares of NYSE:BURL opened at $176.53 on Friday. The stock has a market cap of $11.46 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 0.86 and a beta of 1.10. Burlington Stores, Inc. has a 1-year low of $106.47 and a 1-year high of $239.94. The company has a current ratio of 1.19, a quick ratio of 0.58 and a debt-to-equity ratio of 1.84. The stock’s fifty day simple moving average is $193.07 and its two-hundred day simple moving average is $198.44.

Burlington Stores (NYSE:BURL – Get Rating) last released its earnings results on Thursday, March 2nd. The company reported $2.96 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 analysts’ expectations of $2.61 billion. Burlington Stores had a return on equity of 40.35% and a net margin of 2.64%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 EPS. As a group, analysts forecast that Burlington Stores, Inc. will post 5.88 EPS for the current fiscal year.

Burlington Stores Company Profile

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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.