Ardevora Asset Management LLP Boosts Stake in Burlington Stores, Inc. (BURL)

Ardevora Asset Management LLP grew its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 440,700 shares of the company’s stock after acquiring an additional 38,100 shares during the period. Burlington Stores comprises about 1.3% of Ardevora Asset Management LLP’s holdings, making the stock its 5th biggest position. Ardevora Asset Management LLP owned about 0.64% of Burlington Stores worth $42,069,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its position in shares of Burlington Stores by 3.0% during the 3rd quarter. CIBC Asset Management Inc now owns 34,266 shares of the company’s stock valued at $3,271,000 after acquiring an additional 992 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in shares of Burlington Stores during the 3rd quarter valued at approximately $2,644,000. BNP Paribas Arbitrage SA lifted its position in shares of Burlington Stores by 18.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 155,285 shares of the company’s stock valued at $14,824,000 after acquiring an additional 24,601 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of Burlington Stores during the 3rd quarter worth approximately $523,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Burlington Stores during the 3rd quarter worth approximately $143,000.

In related news, Director Paul Sullivan sold 1,722 shares of Burlington Stores stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $88.46, for a total transaction of $152,328.12. Following the transaction, the director now owns 3,441 shares in the company, valued at approximately $304,390.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fred Hand sold 8,000 shares of Burlington Stores stock in a transaction on Monday, September 11th. The shares were sold at an average price of $87.80, for a total transaction of $702,400.00. Following the transaction, the insider now owns 76,309 shares in the company, valued at approximately $6,699,930.20. The disclosure for this sale can be found here. Insiders have sold a total of 67,922 shares of company stock valued at $6,082,550 over the last three months. Corporate insiders own 2.60% of the company’s stock.

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Shares of Burlington Stores, Inc. (NYSE:BURL) traded down $0.05 during midday trading on Tuesday, hitting $98.25. 838,200 shares of the stock traded hands, compared to its average volume of 1,076,842. Burlington Stores, Inc. has a one year low of $73.13 and a one year high of $104.07. The stock has a market cap of $6,780.00, a PE ratio of 26.35, a PEG ratio of 1.33 and a beta of 0.51. The company has a debt-to-equity ratio of -13.31, a current ratio of 1.03 and a quick ratio of 0.24.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.22. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. sell-side analysts forecast that Burlington Stores, Inc. will post 4.24 earnings per share for the current fiscal year.

Burlington Stores declared that its board has authorized a stock buyback plan on Thursday, August 24th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

A number of brokerages have recently weighed in on BURL. Cowen and Company reissued a “buy” rating and set a $110.00 price objective on shares of Burlington Stores in a research note on Friday. BidaskClub raised shares of Burlington Stores from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, November 1st. Buckingham Research reissued a “buy” rating and set a $107.00 price objective on shares of Burlington Stores in a research note on Thursday, October 19th. Finally, SunTrust Banks, Inc. set a $109.00 price objective on shares of Burlington Stores and gave the stock a “buy” rating in a research note on Monday, October 16th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Burlington Stores has an average rating of “Buy” and a consensus target price of $105.96.

Burlington Stores Company Profile

Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.

Institutional Ownership by Quarter for Burlington Stores (NYSE:BURL)

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