Federated Hermes Inc. Cuts Position in Burlington Stores, Inc. (NYSE:BURL)

Key Points

• Federated Hermes Inc. significantly reduced its stake in Burlington Stores by 75.1% during the first quarter, now holding only 22,067 shares after selling 66,716 shares.
• Several institutional investors have adjusted their positions in Burlington Stores, with Gateway Investment Advisers LLC increasing its holdings by 72.5%.
• Burlington Stores reported an earnings per share (EPS) of $1.60 for the last quarter, surpassing analysts' estimates of $1.43, although its revenue fell short of expectations at $2.50 billion.

Federated Hermes Inc. lessened its position in shares of Burlington Stores, Inc. (NYSE:BURL - Free Report) by 75.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,067 shares of the company's stock after selling 66,716 shares during the quarter. Federated Hermes Inc.'s holdings in Burlington Stores were worth $5,259,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC grew its holdings in Burlington Stores by 14.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 895 shares of the company's stock valued at $213,000 after buying an additional 111 shares in the last quarter. Grandeur Peak Global Advisors LLC lifted its stake in shares of Burlington Stores by 3.0% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 45,056 shares of the company's stock valued at $12,844,000 after purchasing an additional 1,305 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Burlington Stores by 72.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 5,628 shares of the company's stock valued at $1,341,000 after buying an additional 2,365 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Burlington Stores by 5.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 23,914 shares of the company's stock valued at $5,699,000 after buying an additional 1,225 shares during the period. Finally, Bain Capital Public Equity Management II LLC lifted its holdings in shares of Burlington Stores by 39.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 456,416 shares of the company's stock valued at $130,106,000 after buying an additional 129,303 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BURL. Morgan Stanley reduced their price target on Burlington Stores from $297.00 to $269.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on Burlington Stores from $325.00 to $300.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. UBS Group set a $390.00 price target on shares of Burlington Stores and gave the stock a "buy" rating in a report on Monday, July 14th. The Goldman Sachs Group decreased their price objective on shares of Burlington Stores from $317.00 to $316.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Finally, Evercore ISI reduced their price objective on shares of Burlington Stores from $345.00 to $310.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Burlington Stores has an average rating of "Moderate Buy" and a consensus target price of $317.57.

Burlington Stores Price Performance

Shares of BURL opened at $273.00 on Monday. Burlington Stores, Inc. has a twelve month low of $212.92 and a twelve month high of $298.89. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 1.06. The firm's 50 day moving average price is $247.64 and its 200 day moving average price is $247.69. The firm has a market cap of $17.22 billion, a PE ratio of 33.50, a PEG ratio of 2.38 and a beta of 1.69.

Burlington Stores (NYSE:BURL - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.17. Burlington Stores had a net margin of 4.88% and a return on equity of 44.03%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Burlington Stores's revenue was up 6.0% compared to the same quarter last year. As a group, research analysts expect that Burlington Stores, Inc. will post 7.93 EPS for the current fiscal year.

Insider Activity

In other news, CAO Stephen Ferroni sold 450 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $241.39, for a total value of $108,625.50. Following the completion of the sale, the chief accounting officer directly owned 2,389 shares of the company's stock, valued at $576,680.71. This represents a 15.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Jennifer Vecchio sold 420 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $236.64, for a total value of $99,388.80. Following the sale, the chief marketing officer directly owned 65,429 shares of the company's stock, valued at approximately $15,483,118.56. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Burlington Stores 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.

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