New York Life Investment Management LLC Sells 351 Shares of Burlington Stores, Inc. (NYSE:BURL)

New York Life Investment Management LLC lowered its position in Burlington Stores, Inc. (NYSE:BURL) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,643 shares of the company’s stock after selling 351 shares during the period. New York Life Investment Management LLC’s holdings in Burlington Stores were worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Burlington Stores by 34.0% during the fourth quarter. Victory Capital Management Inc. now owns 28,989 shares of the company’s stock worth $5,638,000 after purchasing an additional 7,349 shares during the period. Retirement Systems of Alabama bought a new position in Burlington Stores in the fourth quarter valued at approximately $18,099,000. Headlands Technologies LLC acquired a new position in shares of Burlington Stores in the fourth quarter valued at approximately $109,000. Truist Financial Corp increased its position in shares of Burlington Stores by 6.9% during the fourth quarter. Truist Financial Corp now owns 19,031 shares of the company’s stock worth $3,701,000 after acquiring an additional 1,226 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Burlington Stores by 2.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 37,880 shares of the company’s stock worth $7,367,000 after acquiring an additional 885 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BURL. StockNews.com upgraded Burlington Stores from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. UBS Group raised Burlington Stores from a “sell” rating to a “neutral” rating and lifted their target price for the company from $126.00 to $212.00 in a research report on Thursday, May 2nd. Piper Sandler raised Burlington Stores from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $155.00 to $240.00 in a research report on Wednesday, January 17th. Evercore ISI lifted their price objective on shares of Burlington Stores from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Morgan Stanley reduced their target price on shares of Burlington Stores from $233.00 to $218.00 and set an “overweight” rating for the company in a report on Monday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.31.

Burlington Stores Stock Performance

NYSE BURL opened at $188.02 on Tuesday. The firm has a market capitalization of $12.01 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 1.08 and a beta of 1.54. The company has a current ratio of 1.15, a quick ratio of 0.61 and a debt-to-equity ratio of 1.40. The firm’s fifty day moving average price is $204.03 and its two-hundred day moving average price is $184.82. Burlington Stores, Inc. has a 1 year low of $115.66 and a 1 year high of $232.69.

Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, March 7th. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.02. Burlington Stores had a net margin of 3.49% and a return on equity of 45.28%. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the firm earned $2.96 EPS. Burlington Stores’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts anticipate that Burlington Stores, Inc. will post 7.41 EPS for the current year.

Insider Buying and Selling

In other Burlington Stores news, CMO Jennifer Vecchio sold 5,025 shares of Burlington Stores stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $225.24, for a total transaction of $1,131,831.00. Following the completion of the transaction, the chief marketing officer now directly owns 61,115 shares of the company’s stock, valued at $13,765,542.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.91% of the stock is owned by insiders.

Burlington Stores Company Profile

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.