Fred Alger Management LLC Acquires 47,097 Shares of Burlington Stores, Inc. $BURL

Key Points

• Fred Alger Management LLC increased its stake in Burlington Stores, Inc. by 37.8% during the 1st quarter, acquiring an additional 47,097 shares to total approximately 171,585 shares valued at $40.89 million.
• Several hedge funds have recently modified their holdings in Burlington Stores, including Alkeon Capital Management, which bought a new position valued at $71.5 million.
• Research analysts have raised their target prices for Burlington Stores, with Bank of America increasing its target from $350 to $363, signaling a "buy" rating from multiple firms.

Fred Alger Management LLC lifted its stake in Burlington Stores, Inc. (NYSE:BURL - Free Report) by 37.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,585 shares of the company's stock after purchasing an additional 47,097 shares during the quarter. Fred Alger Management LLC owned 0.27% of Burlington Stores worth $40,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in BURL. Golden State Wealth Management LLC lifted its position in shares of Burlington Stores by 258.6% in the first quarter. Golden State Wealth Management LLC now owns 104 shares of the company's stock worth $25,000 after purchasing an additional 75 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Burlington Stores in the first quarter worth approximately $26,000. Brooklyn Investment Group lifted its position in shares of Burlington Stores by 48.2% in the first quarter. Brooklyn Investment Group now owns 206 shares of the company's stock worth $49,000 after purchasing an additional 67 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Burlington Stores by 14.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 302 shares of the company's stock worth $72,000 after purchasing an additional 38 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Burlington Stores by 35.9% in the first quarter. Blue Trust Inc. now owns 352 shares of the company's stock worth $84,000 after purchasing an additional 93 shares in the last quarter.

Burlington Stores Stock Performance

Shares of NYSE:BURL traded down $12.15 during trading on Friday, reaching $267.11. The stock had a trading volume of 1,046,698 shares, compared to its average volume of 1,123,795. Burlington Stores, Inc. has a 52 week low of $212.92 and a 52 week high of $309.00. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 2.08 and a beta of 1.72. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $275.55 and a two-hundred day simple moving average of $250.97.

Burlington Stores (NYSE:BURL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.32. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.64 billion. Burlington Stores had a net margin of 4.96% and a return on equity of 42.74%. Burlington Stores's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. Burlington Stores has set its Q3 2025 guidance at 1.5-1.600 EPS. FY 2025 guidance at 9.190-9.590 EPS. As a group, analysts anticipate that Burlington Stores, Inc. will post 7.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Burlington Stores news, CAO Stephen Ferroni sold 1,123 shares of Burlington Stores stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $281.25, for a total transaction of $315,843.75. Following the sale, the chief accounting officer owned 2,389 shares in the company, valued at $671,906.25. The trade was a 31.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Jennifer Vecchio sold 420 shares of Burlington Stores stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $236.64, for a total value of $99,388.80. Following the transaction, 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 insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on BURL shares. Bank of America increased their price target on shares of Burlington Stores from $350.00 to $363.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Jefferies Financial Group increased their price target on shares of Burlington Stores from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Robert W. Baird cut their price objective on shares of Burlington Stores from $335.00 to $325.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Morgan Stanley raised their price objective on shares of Burlington Stores from $309.00 to $328.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Barclays raised their price objective on shares of Burlington Stores from $299.00 to $336.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Fourteen analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $344.29.

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.