Primecap Management Co. CA Has $126.78 Million Stock Holdings in Burlington Stores, Inc. (NYSE:BURL)

Key Points

• Primecap Management Co. CA increased its holdings in Burlington Stores by 14.3%, acquiring a total of 531,940 shares valued at approximately $126.78 million.
• Burlington Stores recently reported an EPS of $1.60, surpassing analysts' estimates, with a 6.0% year-over-year revenue increase, totaling $2.50 billion.
• Analysts have a consensus rating of "Moderate Buy" for Burlington Stores, with a mean price target of $317.57 after multiple brokerages revised their price objectives.

Primecap Management Co. CA raised its holdings in Burlington Stores, Inc. (NYSE:BURL - Free Report) by 14.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 531,940 shares of the company's stock after buying an additional 66,590 shares during the quarter. Primecap Management Co. CA owned 0.84% of Burlington Stores worth $126,777,000 at the end of the most recent quarter.

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

Burlington Stores Price Performance

BURL opened at $282.60 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.06 and a quick ratio of 0.39. The stock has a market capitalization of $17.83 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 2.44 and a beta of 1.69. The company's 50 day simple moving average is $250.21 and its 200-day simple moving average is $248.08. Burlington Stores, Inc. has a one year low of $212.92 and a one year high of $298.89.

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

Insider Activity

In related news, CAO Stephen Ferroni sold 450 shares of Burlington Stores 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 in the company, valued at $576,680.71. This trade represents a 15.85% 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 the SEC website. Also, CMO Jennifer Vecchio sold 420 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $236.64, for a total transaction of $99,388.80. Following the transaction, the chief marketing officer owned 65,429 shares in the company, 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 company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on BURL. Barclays lifted their target price on shares of Burlington Stores from $254.00 to $299.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. The Goldman Sachs Group decreased their price objective on Burlington Stores from $317.00 to $316.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Loop Capital dropped their target price on Burlington Stores from $315.00 to $305.00 and set a "buy" rating for the company in a report on Friday, May 30th. Evercore ISI cut their target price on Burlington Stores from $345.00 to $310.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Finally, Robert W. Baird lowered their price target on Burlington Stores from $335.00 to $325.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $317.57.

Burlington Stores Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.