State of Michigan Retirement System Lowers Stake in Burlington Stores, Inc. (NYSE:BURL)

State of Michigan Retirement System trimmed its holdings in shares of Burlington Stores, Inc. (NYSE:BURL - Free Report) by 22.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,100 shares of the company's stock after selling 64,200 shares during the period. State of Michigan Retirement System owned about 0.36% of Burlington Stores worth $53,648,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC lifted 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 acquiring an additional 111 shares during the last quarter. Grandeur Peak Global Advisors LLC increased its stake in Burlington Stores by 3.0% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 45,056 shares of the company's stock valued at $12,844,000 after acquiring an additional 1,305 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Burlington Stores by 72.5% in the first quarter. Gateway Investment Advisers LLC now owns 5,628 shares of the company's stock valued at $1,341,000 after acquiring an additional 2,365 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Burlington Stores by 5.4% in the first quarter. Asset Management One Co. Ltd. now owns 23,914 shares of the company's stock valued at $5,699,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Bain Capital Public Equity Management II LLC boosted its position in 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 buying an additional 129,303 shares in the last quarter.

Insider Transactions at Burlington Stores

In other news, COO Travis Marquette sold 190 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $237.63, for a total value of $45,149.70. Following the transaction, the chief operating officer owned 22,858 shares of the company's stock, valued at $5,431,746.54. This represents a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen Ferroni sold 450 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $241.39, for a total transaction 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. The trade was a 15.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,060 shares of company stock valued at $253,164 in the last quarter. Insiders own 1.10% of the company's stock.

Burlington Stores Stock Performance

Shares of BURL stock traded down $2.60 during trading on Friday, reaching $250.02. 720,497 shares of the company's stock traded hands, compared to its average volume of 1,005,110. The company has a market capitalization of $15.77 billion, a P/E ratio of 30.68, a PEG ratio of 2.21 and a beta of 1.64. The company has a current ratio of 1.06, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. The firm's 50-day moving average is $242.56 and its 200 day moving average is $249.84. Burlington Stores, Inc. has a 1 year low of $212.92 and a 1 year high of $298.89.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BURL. Wells Fargo & Company cut their price target on shares of Burlington Stores from $325.00 to $300.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Loop Capital decreased their price target on shares of Burlington Stores from $315.00 to $305.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $300.00 price target (down from $340.00) on shares of Burlington Stores in a research note on Thursday, May 29th. Barclays boosted 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. Finally, Robert W. Baird reduced their price objective on shares of Burlington Stores from $335.00 to $325.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $317.43.

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.