Zions Bancorporation National Association UT Purchases New Shares in Burlington Stores, Inc. (NYSE:BURL)

Key Points

• Zions Bancorporation National Association UT has acquired a new position in Burlington Stores, purchasing 13,677 shares valued at approximately $3.26 million in the first quarter.
• Burlington Stores' most recent earnings report showed an EPS of $1.60, exceeding estimates, with a net margin of 4.88% and a year-over-year revenue increase of 6.0%.
• Analysts have recently adjusted their price targets for Burlington Stores, with a consensus rating of "Moderate Buy" and a price target averaging around $317.57.

Zions Bancorporation National Association UT purchased a new position in Burlington Stores, Inc. (NYSE:BURL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,677 shares of the company's stock, valued at approximately $3,260,000.

Several other hedge funds have also recently modified their holdings of BURL. Capital International Investors lifted its position in shares of Burlington Stores by 7.7% in the 4th quarter. Capital International Investors now owns 5,160,096 shares of the company's stock worth $1,470,929,000 after purchasing an additional 367,703 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Burlington Stores by 55.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 671,999 shares of the company's stock worth $191,560,000 after purchasing an additional 240,144 shares during the period. Steadfast Capital Management LP purchased a new stake in shares of Burlington Stores in the 4th quarter worth approximately $67,075,000. Vanguard Group Inc. lifted its position in Burlington Stores by 3.4% during the first quarter. Vanguard Group Inc. now owns 6,603,257 shares of the company's stock valued at $1,573,754,000 after acquiring an additional 219,124 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Burlington Stores by 23,496.5% during the first quarter. GAMMA Investing LLC now owns 214,020 shares of the company's stock valued at $51,007,000 after acquiring an additional 213,113 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Robert W. Baird decreased their target price 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. UBS Group set a $390.00 target price on shares of Burlington Stores and gave the company a "buy" rating in a research report on Monday, July 14th. Telsey Advisory Group reissued an "outperform" rating and set a $300.00 target price (down previously from $340.00) on shares of Burlington Stores in a research report on Thursday, May 29th. Wells Fargo & Company decreased their target price on shares of Burlington Stores from $325.00 to $300.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays increased 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. One investment 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 currently has an average rating of "Moderate Buy" and an average price target of $317.57.

Insiders Place Their Bets

In other news, CAO Stephen Ferroni sold 450 shares of the 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 sale, the chief accounting officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jennifer Vecchio sold 420 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $236.64, for a total transaction of $99,388.80. Following the completion of the sale, the chief marketing officer owned 65,429 shares in the company, valued at $15,483,118.56. The trade was a 0.64% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Burlington Stores Stock Performance

Shares of NYSE BURL traded up $7.79 during midday trading on Tuesday, reaching $278.23. The company had a trading volume of 838,211 shares, compared to its average volume of 1,139,361. The business's 50-day simple moving average is $252.81 and its 200 day simple moving average is $247.13. The stock has a market cap of $17.55 billion, a P/E ratio of 34.14, a P/E/G ratio of 2.36 and a beta of 1.69. Burlington Stores, Inc. has a 1 year low of $212.92 and a 1 year high of $298.89. 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 posted its quarterly earnings results on Thursday, May 29th. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.17. The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.52 billion. Burlington Stores had a net margin of 4.88% and a return on equity of 44.03%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. On average, analysts forecast that Burlington Stores, Inc. will post 7.93 earnings per share for the current fiscal year.

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.