Truist Financial Corp Has $2 Million Position in Burlington Stores, Inc. (NYSE:BURL)

Truist Financial Corp lowered its holdings in Burlington Stores, Inc. (NYSE:BURLGet Rating) by 14.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,828 shares of the company’s stock after selling 2,979 shares during the quarter. Truist Financial Corp’s holdings in Burlington Stores were worth $1,995,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BURL. Artisan Partners Limited Partnership grew its position in Burlington Stores by 17.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,408,490 shares of the company’s stock valued at $464,339,000 after purchasing an additional 498,591 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Burlington Stores by 5.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,712,590 shares of the company’s stock worth $1,323,146,000 after acquiring an additional 491,363 shares during the last quarter. Candlestick Capital Management LP purchased a new position in Burlington Stores during the 2nd quarter worth $51,600,000. Macquarie Group Ltd. boosted its holdings in Burlington Stores by 1,873.8% during the 2nd quarter. Macquarie Group Ltd. now owns 331,275 shares of the company’s stock worth $45,129,000 after acquiring an additional 314,491 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Burlington Stores by 112.1% during the 1st quarter. Clearbridge Investments LLC now owns 565,509 shares of the company’s stock worth $103,019,000 after acquiring an additional 298,837 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BURL shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Burlington Stores from $157.00 to $214.00 in a report on Wednesday, November 23rd. The Goldman Sachs Group lifted their price objective on shares of Burlington Stores from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Citigroup lifted their target price on Burlington Stores from $180.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, November 23rd. Telsey Advisory Group lifted their target price on Burlington Stores from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 23rd. Finally, Loop Capital upgraded Burlington Stores from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $200.00 in a research note on Wednesday, January 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Burlington Stores presently has an average rating of “Moderate Buy” and a consensus target price of $220.79.

Burlington Stores Trading Up 1.1 %

Shares of BURL opened at $225.25 on Tuesday. The business’s 50-day moving average price is $191.88 and its 200-day moving average price is $158.22. Burlington Stores, Inc. has a twelve month low of $106.47 and a twelve month high of $243.94. The stock has a market cap of $14.76 billion, a PE ratio of 90.83 and a beta of 1.03. The company has a quick ratio of 0.35, a current ratio of 1.12 and a debt-to-equity ratio of 2.29.

Burlington Stores (NYSE:BURLGet Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.09). Burlington Stores had a return on equity of 37.58% and a net margin of 1.94%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm posted $1.36 EPS. On average, equities analysts forecast that Burlington Stores, Inc. will post 4 EPS for the current fiscal year.

Insider Transactions at Burlington Stores

In other news, CAO Jeffrey Laub sold 2,917 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $195.63, for a total transaction of $570,652.71. Following the completion of the transaction, the chief accounting officer now owns 3,165 shares of the company’s stock, valued at $619,168.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

About Burlington Stores

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Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company's stores offer fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, baby, beauty, footwear, accessories, home, toys, gifts, and coats. As of October 29, 2022, it operated 893 stores in 46 states and Puerto Rico principally under the Burlington Stores name.

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

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