Primecap Management Co. CA Buys Shares of 840,960 Burlington Stores, Inc. $BURL

Key Points

• Primecap Management purchased 840,960 Burlington Stores shares worth approximately $266.4 million, giving it a 1.34% stake. Other major institutions, including BlackRock and T. Rowe Price, also increased or initiated positions.
• Burlington shares opened at $316.17, down 4.4%, despite the company beating quarterly earnings and revenue estimates. Quarterly EPS was $2.01 on $2.86 billion in revenue, with sales up 14.1% year over year.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $371.50, although company insiders sold more than $10.2 million of stock over the past 90 days.

Primecap Management Co. CA purchased a new position in Burlington Stores, Inc. (NYSE:BURL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 840,960 shares of the company's stock, valued at approximately $266,416,000. Primecap Management Co. CA owned 1.34% of Burlington Stores as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Burlington Stores in the second quarter worth $2,157,518,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Burlington Stores by 15.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,828,877 shares of the company's stock worth $817,122,000 after purchasing an additional 386,615 shares in the last quarter. State Street Corp grew its stake in Burlington Stores by 1.2% during the 3rd quarter. State Street Corp now owns 2,184,171 shares of the company's stock worth $555,872,000 after buying an additional 26,529 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Burlington Stores by 303,059.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,912,936 shares of the company's stock worth $552,552,000 after buying an additional 1,912,305 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Burlington Stores by 103.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,285,336 shares of the company's stock valued at $371,269,000 after buying an additional 653,718 shares in the last quarter.

Burlington Stores Trading Down 4.4%

Shares of Burlington Stores stock opened at $316.17 on Wednesday. The firm has a 50-day simple moving average of $341.56 and a two-hundred day simple moving average of $325.28. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.49 and a current ratio of 1.16. Burlington Stores, Inc. has a fifty-two week low of $240.49 and a fifty-two week high of $378.33. The company has a market cap of $19.90 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

Burlington Stores (NYSE:BURL - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.21. Burlington Stores had a net margin of 5.24% and a return on equity of 39.93%. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.80 billion. During the same quarter last year, the company earned $1.60 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. Burlington Stores has set its Q2 2026 guidance at 2.050-2.200 EPS and its FY 2026 guidance at 11.450-11.800 EPS. As a group, equities analysts predict that Burlington Stores, Inc. will post 12.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Burlington Stores from $365.00 to $411.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. lowered their target price on shares of Burlington Stores from $374.00 to $351.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Truist Financial upped their price target on shares of Burlington Stores from $305.00 to $310.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. UBS Group raised their price target on shares of Burlington Stores from $435.00 to $440.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Finally, Bank of America raised their price target on shares of Burlington Stores from $367.00 to $375.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $371.50.

Insider Activity

In other Burlington Stores news, CAO Stephen Ferroni sold 2,343 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $337.22, for a total value of $790,106.46. Following the completion of the sale, the chief accounting officer directly owned 1,391 shares in the company, valued at $469,073.02. This represents a 62.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Pasch sold 3,773 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $317.21, for a total transaction of $1,196,833.33. Following the sale, the insider owned 6,523 shares of the company's stock, valued at approximately $2,069,160.83. The trade was a 36.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,392 shares of company stock worth $10,280,271 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Burlington Stores Company Profile

Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company's merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington's merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.

The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.

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