Oppenheimer Asset Management Inc. Reduces Stock Holdings in Burlington Stores, Inc. (NYSE:BURL)

Oppenheimer Asset Management Inc. lessened its stake in Burlington Stores, Inc. (NYSE:BURL) by 19.8% in the third quarter, Holdings Channel reports. The fund owned 8,840 shares of the company’s stock after selling 2,187 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Burlington Stores were worth $2,329,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BURL. Russell Investments Group Ltd. grew its stake in shares of Burlington Stores by 42.2% during the first quarter. Russell Investments Group Ltd. now owns 27,650 shares of the company’s stock valued at $6,409,000 after acquiring an additional 8,200 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Burlington Stores by 26.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,682 shares of the company’s stock valued at $7,588,000 after purchasing an additional 6,735 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Burlington Stores by 16.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 7,951 shares of the company’s stock worth $1,846,000 after purchasing an additional 1,108 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Burlington Stores by 14.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,584 shares of the company’s stock valued at $9,166,000 after purchasing an additional 5,032 shares in the last quarter. Finally, Cynosure Group LLC purchased a new position in shares of Burlington Stores during the 1st quarter valued at approximately $335,000.

Insider Activity

In related news, Director Paul Sullivan sold 1,705 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $277.05, for a total value of $472,370.25. Following the sale, the director now directly owns 7,393 shares in the company, valued at $2,048,230.65. This trade represents a 18.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BURL shares. Loop Capital lifted their price target on shares of Burlington Stores from $270.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. TD Cowen boosted their target price on shares of Burlington Stores from $279.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Gordon Haskett raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Monday, August 19th. Telsey Advisory Group reissued an “outperform” rating and issued a $300.00 price objective on shares of Burlington Stores in a report on Thursday, August 29th. Finally, Morgan Stanley increased their target price on Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Burlington Stores currently has an average rating of “Moderate Buy” and an average target price of $297.56.

Burlington Stores Stock Performance

BURL stock opened at $268.94 on Friday. Burlington Stores, Inc. has a 1 year low of $128.57 and a 1 year high of $282.49. The stock has a market capitalization of $17.12 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 1.36 and a beta of 1.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.48 and a current ratio of 1.04. The stock’s fifty day moving average is $260.80 and its two-hundred day moving average is $244.48.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.25. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.42 billion. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. Burlington Stores’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. On average, research analysts predict that Burlington Stores, Inc. will post 7.93 EPS for the current year.

About Burlington Stores

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.