SRS Investment Management LLC Acquires 123,973 Shares of Burlington Stores, Inc. (NYSE:BURL)

SRS Investment Management LLC increased its position in shares of Burlington Stores, Inc. (NYSE:BURL - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,270,421 shares of the company's stock after acquiring an additional 123,973 shares during the quarter. Burlington Stores makes up about 5.1% of SRS Investment Management LLC's portfolio, making the stock its 7th biggest holding. SRS Investment Management LLC owned approximately 2.00% of Burlington Stores worth $362,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Buckingham Capital Management Inc. lifted its position in Burlington Stores by 159.0% in the fourth quarter. Buckingham Capital Management Inc. now owns 17,419 shares of the company's stock valued at $4,965,000 after buying an additional 10,693 shares during the last quarter. Logan Capital Management Inc. lifted its position in Burlington Stores by 9.1% in the third quarter. Logan Capital Management Inc. now owns 56,354 shares of the company's stock valued at $14,848,000 after buying an additional 4,695 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Burlington Stores by 7.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 378,921 shares of the company's stock valued at $108,292,000 after buying an additional 26,412 shares during the last quarter. Grandeur Peak Global Advisors LLC lifted its position in Burlington Stores by 3.0% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 45,056 shares of the company's stock valued at $12,844,000 after buying an additional 1,305 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in Burlington Stores in the fourth quarter valued at about $265,000.

Burlington Stores Stock Up 0.9 %

Shares of NYSE:BURL traded up $2.07 during trading on Friday, hitting $223.06. 910,214 shares of the company were exchanged, compared to its average volume of 979,767. The firm's 50 day moving average price is $236.12 and its 200-day moving average price is $261.15. Burlington Stores, Inc. has a 12-month low of $175.30 and a 12-month high of $298.89. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 0.54. The stock has a market capitalization of $14.05 billion, a P/E ratio of 30.56, a PEG ratio of 1.11 and a beta of 1.65.

Burlington Stores (NYSE:BURL - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.75 by $0.32. Burlington Stores had a net margin of 4.49% and a return on equity of 47.52%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. On average, research analysts predict that Burlington Stores, Inc. will post 7.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BURL. JPMorgan Chase & Co. cut their price target on shares of Burlington Stores from $336.00 to $287.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup cut their price target on shares of Burlington Stores from $344.00 to $340.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Robert W. Baird boosted their price target on shares of Burlington Stores from $330.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Morgan Stanley boosted their price target on shares of Burlington Stores from $296.00 to $297.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, UBS Group boosted their price target on shares of Burlington Stores from $360.00 to $405.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Burlington Stores has a consensus rating of "Moderate Buy" and an average target price of $323.13.

Insider Buying and Selling

In related news, CMO Jennifer Vecchio sold 4,939 shares of Burlington Stores stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $239.94, for a total transaction of $1,185,063.66. Following the sale, the chief marketing officer now directly owns 70,006 shares in the company, valued at $16,797,239.64. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company 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.