US Bancorp DE Reduces Holdings in Burlington Stores, Inc. (NYSE:BURL)

Key Points

• US Bancorp DE significantly reduced its stake in Burlington Stores, Inc. by 84.9% during the first quarter, selling over 41,000 shares and leaving it with a total of 7,302 shares worth approximately $1.74 million.
• Several other hedge funds increased their holdings in Burlington, with Golden State Wealth Management boosting their stake by 258.6% and UMB Bank n.a. increasing by 105.1% in the same quarter.
• Analysts have set varying price targets for Burlington Stores, with Wells Fargo reducing its target from $325 to $300, while UBS maintains a target of $390 and a "buy" rating for the stock.

US Bancorp DE lessened its holdings in shares of Burlington Stores, Inc. (NYSE:BURL - Free Report) by 84.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,302 shares of the company's stock after selling 41,127 shares during the quarter. US Bancorp DE's holdings in Burlington Stores were worth $1,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BURL. Golden State Wealth Management LLC boosted its position in shares of Burlington Stores by 258.6% during the 1st quarter. Golden State Wealth Management LLC now owns 104 shares of the company's stock valued at $25,000 after acquiring an additional 75 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Burlington Stores in the 4th quarter valued at $75,000. Blue Trust Inc. increased its stake in Burlington Stores by 35.9% in the 1st quarter. Blue Trust Inc. now owns 352 shares of the company's stock worth $84,000 after purchasing an additional 93 shares during the period. Fifth Third Bancorp increased its stake in shares of Burlington Stores by 19.8% in the first quarter. Fifth Third Bancorp now owns 514 shares of the company's stock worth $123,000 after buying an additional 85 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Burlington Stores in the fourth quarter worth $151,000.

Burlington Stores Stock Performance

NYSE BURL traded up $8.50 on Tuesday, reaching $278.94. 265,193 shares of the stock were exchanged, compared to its average volume of 1,135,483. Burlington Stores, Inc. has a one year low of $212.92 and a one year high of $298.89. The firm has a market capitalization of $17.60 billion, a PE ratio of 34.25, a PEG ratio of 2.36 and a beta of 1.69. The company's 50-day simple moving average is $252.81 and its two-hundred day simple moving average is $247.13. The company has a current ratio of 1.06, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21.

Burlington Stores (NYSE:BURL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm posted $1.35 EPS. The company's revenue was up 6.0% on a year-over-year basis. Analysts expect that Burlington Stores, Inc. will post 7.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays boosted their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Burlington Stores from $280.00 to $338.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Telsey Advisory Group reiterated an "outperform" rating and issued a $300.00 price target (down previously from $340.00) on shares of Burlington Stores in a research note on Thursday, May 29th. UBS Group set a $390.00 price target on Burlington Stores and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Robert W. Baird lowered their target price on shares of Burlington Stores from $335.00 to $325.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Burlington Stores currently has an average rating of "Moderate Buy" and a consensus target price of $317.57.

Insider Buying and Selling

In related news, CAO Stephen Ferroni sold 450 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $576,680.71. This trade represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Jennifer Vecchio sold 420 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $236.64, for a total transaction of $99,388.80. Following the completion of the transaction, the chief marketing officer directly owned 65,429 shares of the company's stock, valued at approximately $15,483,118.56. This trade represents 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 currently owned by corporate insiders.

Burlington Stores 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.