Fred Alger Management LLC Acquires 1,442 Shares of Burlington Stores, Inc. (NYSE:BURL)

Fred Alger Management LLC grew its holdings in Burlington Stores, Inc. (NYSE:BURL) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,891 shares of the company’s stock after purchasing an additional 1,442 shares during the period. Fred Alger Management LLC’s holdings in Burlington Stores were worth $66,105,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its stake in Burlington Stores by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 145,552 shares of the company’s stock valued at $38,350,000 after acquiring an additional 3,246 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in Burlington Stores in the 3rd quarter worth approximately $764,000. Tidal Investments LLC grew its stake in Burlington Stores by 178.4% in the 1st quarter. Tidal Investments LLC now owns 6,163 shares of the company’s stock worth $1,431,000 after buying an additional 3,949 shares in the last quarter. Cetera Investment Advisers purchased a new position in Burlington Stores in the 1st quarter worth approximately $2,851,000. Finally, AMF Tjanstepension AB purchased a new position in Burlington Stores in the 2nd quarter worth approximately $8,186,000.

Wall Street Analyst Weigh In

BURL has been the subject of a number of research reports. StockNews.com cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Citigroup upped their price target on shares of Burlington Stores from $313.00 to $344.00 and gave the company a “buy” rating in a report on Wednesday. Telsey Advisory Group restated an “outperform” rating and issued a $310.00 price objective on shares of Burlington Stores in a report on Tuesday. Finally, Gordon Haskett upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.69.

Burlington Stores Stock Up 0.5 %

NYSE BURL opened at $288.36 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. The company has a fifty day moving average of $262.68 and a two-hundred day moving average of $249.98. The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 1.48 and a beta of 1.64. Burlington Stores, Inc. has a 52 week low of $168.49 and a 52 week high of $298.89.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Burlington Stores had a net margin of 4.49% and a return on equity of 47.52%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. On average, analysts predict that Burlington Stores, Inc. will post 7.9 earnings per share for the current year.

Insider Buying and Selling

In other Burlington Stores news, Director Paul Sullivan sold 1,705 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the completion of the sale, the director now directly owns 7,393 shares of the company’s stock, valued at approximately $2,048,230.65. This represents a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

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.