Norges Bank Acquires Shares of 748,000 Burlington Stores, Inc. (NYSE:BURL)

Norges Bank bought a new position in Burlington Stores, Inc. (NYSE:BURL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 748,000 shares of the company’s stock, valued at approximately $145,471,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC increased its position in shares of Burlington Stores by 114.6% during the fourth quarter. Lindbrook Capital LLC now owns 176 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Burlington Stores during the fourth quarter valued at about $41,000. Fifth Third Bancorp bought a new position in shares of Burlington Stores during the 4th quarter worth approximately $50,000. Homestead Advisers Corp purchased a new stake in Burlington Stores during the third quarter valued at approximately $53,000. Finally, Operose Advisors LLC acquired a new stake in Burlington Stores in the third quarter valued at approximately $84,000.

Burlington Stores Stock Performance

Shares of NYSE:BURL opened at $186.70 on Friday. The business’s 50 day moving average price is $198.46 and its 200-day moving average price is $190.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.15 and a quick ratio of 0.61. The firm has a market capitalization of $11.92 billion, a PE ratio of 35.56, a P/E/G ratio of 1.11 and a beta of 1.54. 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 for the quarter, topping the consensus estimate of $3.28 by $0.02. Burlington Stores had a return on equity of 45.28% and a net margin of 3.49%. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the firm posted $2.96 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that Burlington Stores, Inc. will post 7.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 price objective on shares of Burlington Stores in a report on Thursday. TD Cowen decreased their price target on shares of Burlington Stores from $230.00 to $209.00 and set a “hold” rating for the company in a report on Friday, May 17th. Morgan Stanley dropped their price objective on shares of Burlington Stores from $233.00 to $218.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. StockNews.com upgraded Burlington Stores from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Finally, Evercore ISI increased their price objective on Burlington Stores from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $220.14.

Insiders Place Their Bets

In other Burlington Stores news, CMO Jennifer Vecchio sold 5,025 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $225.24, for a total transaction of $1,131,831.00. Following the completion of the sale, the chief marketing officer now owns 61,115 shares of the company’s stock, valued at $13,765,542.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.