Burlington Stores, Inc. (NYSE:BURL) Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in Burlington Stores by 1,300 shares, bringing its total ownership to 21,700 shares, valued at approximately $5.17 million.
• Burlington Stores reported an earnings per share (EPS) of $1.60, surpassing analyst estimates of $1.43, and the company had a revenue of $2.50 billion for the quarter.
• Several brokerages have raised their price targets for Burlington Stores, with prices ranging from $269.00 to $390.00, reflecting a consensus "Moderate Buy" rating among analysts.

KLP Kapitalforvaltning AS cut its holdings in Burlington Stores, Inc. (NYSE:BURL - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,700 shares of the company's stock after selling 1,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Burlington Stores were worth $5,172,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. GW&K Investment Management LLC increased its stake in Burlington Stores by 0.5% in the 1st quarter. GW&K Investment Management LLC now owns 300,588 shares of the company's stock valued at $71,639,000 after buying an additional 1,615 shares during the period. Heritage Investors Management Corp increased its stake in shares of Burlington Stores by 3.0% during the first quarter. Heritage Investors Management Corp now owns 46,518 shares of the company's stock worth $11,087,000 after acquiring an additional 1,362 shares during the period. Savoir Faire Capital Management L.P. increased its stake in shares of Burlington Stores by 51.7% during the first quarter. Savoir Faire Capital Management L.P. now owns 26,531 shares of the company's stock worth $6,323,000 after acquiring an additional 9,039 shares during the period. Jennison Associates LLC increased its position in Burlington Stores by 5.5% during the 1st quarter. Jennison Associates LLC now owns 521,713 shares of the company's stock worth $124,340,000 after purchasing an additional 27,069 shares during the period. Finally, Tributary Capital Management LLC increased its position in Burlington Stores by 4.2% during the 1st quarter. Tributary Capital Management LLC now owns 7,631 shares of the company's stock worth $1,819,000 after purchasing an additional 311 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on BURL. Wells Fargo & Company dropped their target price on Burlington Stores from $325.00 to $300.00 and set an "overweight" rating on the stock in a research report 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 research note on Monday, July 14th. Morgan Stanley lowered their price target on shares of Burlington Stores from $297.00 to $269.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Loop Capital lowered their target price on shares of Burlington Stores from $315.00 to $305.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Barclays upped their target price on shares of Burlington Stores from $254.00 to $299.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $317.57.

Burlington Stores Trading Down 1.8%

NYSE:BURL traded down $5.22 during mid-day trading on Tuesday, reaching $282.77. The company's stock had a trading volume of 183,563 shares, compared to its average volume of 1,149,590. The company's fifty day simple moving average is $245.91 and its two-hundred day simple moving average is $247.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.06 and a quick ratio of 0.39. Burlington Stores, Inc. has a twelve month low of $212.92 and a twelve month high of $298.89. The stock has a market cap of $17.84 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.44 and a beta of 1.64.

Burlington Stores (NYSE:BURL - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $2.52 billion. During the same period last year, the company earned $1.35 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts predict that Burlington Stores, Inc. will post 7.93 EPS for the current year.

Insider Activity at Burlington Stores

In other news, CMO Jennifer Vecchio sold 420 shares of Burlington Stores stock in a transaction dated Tuesday, July 1st. The stock was 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 $15,483,118.56. The trade was a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen Ferroni sold 450 shares of Burlington Stores stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $241.39, for a total value of $108,625.50. Following the completion of the transaction, the chief accounting officer directly owned 2,389 shares in the company, valued at $576,680.71. This represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,060 shares of company stock worth $253,164. 1.10% of the stock is owned by insiders.

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.