Assenagon Asset Management S.A. Sells 72,949 Shares of Burlington Stores, Inc. $BURL

Key Points

• Assenagon Asset Management cut its Burlington Stores stake by 83.9% in the third quarter, selling 72,949 shares and retaining 13,965 shares valued at approximately $3.7 million.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $370.75, despite several recent target reductions.
• Burlington shares opened at $259.62, while the company reported quarterly EPS of $2.96—beating estimates—and revenue of $3 billion, up 11% year over year.

Assenagon Asset Management S.A. trimmed its stake in shares of Burlington Stores, Inc. (NYSE:BURL - Free Report) by 83.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,965 shares of the company's stock after selling 72,949 shares during the period. Assenagon Asset Management S.A.'s holdings in Burlington Stores were worth $3,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Banque Cantonale Vaudoise raised its stake in Burlington Stores by 4.6% during the first quarter. Banque Cantonale Vaudoise now owns 1,327 shares of the company's stock valued at $432,000 after purchasing an additional 58 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Burlington Stores by 22.5% in the 1st quarter. Parallel Advisors LLC now owns 348 shares of the company's stock worth $113,000 after buying an additional 64 shares in the last quarter. Assetmark Inc. grew its stake in shares of Burlington Stores by 6.5% in the 1st quarter. Assetmark Inc. now owns 1,190 shares of the company's stock worth $387,000 after buying an additional 73 shares in the last quarter. Basecamp Wealth Advisors LLC increased its holdings in shares of Burlington Stores by 10.7% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 816 shares of the company's stock worth $266,000 after buying an additional 79 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Burlington Stores by 17.0% in the 2nd quarter. IFP Advisors Inc now owns 586 shares of the company's stock worth $186,000 after buying an additional 85 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently commented on BURL shares. Sanford C. Bernstein lowered their price target on shares of Burlington Stores from $365.00 to $355.00 and set an "outperform" rating for the company in a report on Friday, August 28th. Wells Fargo & Company set a $370.00 price objective on Burlington Stores in a research note on Friday, August 28th. Jefferies Financial Group boosted their price objective on Burlington Stores from $365.00 to $410.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Citigroup decreased their price objective on Burlington Stores from $380.00 to $318.00 and set a "neutral" rating on the stock in a research report on Friday, August 28th. Finally, Evercore reaffirmed an "outperform" rating and issued a $400.00 price objective on shares of Burlington Stores in a research note on Monday, August 17th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $370.75.

Burlington Stores Stock Down 1.2%

Shares of NYSE BURL opened at $259.62 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.17 and a quick ratio of 0.47. The company has a market cap of $16.31 billion, a P/E ratio of 23.30, a PEG ratio of 1.59 and a beta of 1.43. Burlington Stores, Inc. has a 1 year low of $226.85 and a 1 year high of $378.33. The firm has a 50-day simple moving average of $276.26 and a two-hundred day simple moving average of $311.66.

Burlington Stores (NYSE:BURL - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.77. Burlington Stores had a return on equity of 41.72% and a net margin of 5.85%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Burlington Stores has set its Q3 2026 guidance at 1.600-1.700 EPS and its FY 2026 guidance at 11.770-11.970 EPS. Research analysts anticipate that Burlington Stores, Inc. will post 11.93 earnings per share for the current year.

Insider Activity

In other news, CMO Jennifer Vecchio sold 1,678 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $271.53, for a total transaction of $455,627.34. Following the completion of the sale, the chief marketing officer directly owned 74,305 shares of the company's stock, valued at approximately $20,176,036.65. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

Burlington Stores Company Profile

Burlington Stores, Inc NYSE: BURL is an off-price retailer offering branded and private-label merchandise at discounted prices. The company sells a broad range of products, including women's, men's and children's apparel; footwear; accessories; home goods; and baby products.

Burlington operates through a nationwide network of stores in the United States. Its off-price model emphasizes opportunistic purchasing, allowing the company to offer changing assortments of merchandise at prices generally below those of department stores and specialty retailers.

The company traces its history to 1972, when it opened its first store in Burlington, New Jersey, as Burlington Coat Factory.

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