Raymond James Trust N.A. Has $350,000 Position in Burlington Stores, Inc. (BURL)

Raymond James Trust N.A. increased its position in Burlington Stores, Inc. (NYSE:BURL) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,808 shares of the company’s stock after buying an additional 40 shares during the quarter. Raymond James Trust N.A.’s holdings in Burlington Stores were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BURL. Stephens Investment Management Group LLC boosted its holdings in Burlington Stores by 84.7% in the second quarter. Stephens Investment Management Group LLC now owns 320,161 shares of the company’s stock valued at $29,452,000 after acquiring an additional 146,856 shares in the last quarter. Stephens Inc. AR boosted its holdings in shares of Burlington Stores by 6,389.7% during the 2nd quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock valued at $233,000 after buying an additional 2,492 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Burlington Stores by 73.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 35,740 shares of the company’s stock valued at $3,288,000 after buying an additional 15,100 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Burlington Stores by 0.4% during the 2nd quarter. Oak Ridge Investments LLC now owns 643,053 shares of the company’s stock valued at $59,154,000 after buying an additional 2,657 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its holdings in shares of Burlington Stores by 156.4% during the 2nd quarter. Capital Fund Management S.A. now owns 324,193 shares of the company’s stock valued at $29,823,000 after buying an additional 197,773 shares in the last quarter.

In other news, insider Joyce Manning Magrini sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $93.05, for a total value of $310,135.65. Following the completion of the sale, the insider now directly owns 56,882 shares in the company, valued at $5,292,870.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $84.03, for a total value of $1,680,600.00. Following the completion of the sale, the chief executive officer now owns 518,008 shares of the company’s stock, valued at $43,528,212.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,790 shares of company stock valued at $7,830,494. 2.60% of the stock is owned by company insiders.

Burlington Stores, Inc. (BURL) opened at 90.13 on Monday. Burlington Stores, Inc. has a 52 week low of $68.94 and a 52 week high of $104.07. The company’s 50 day moving average price is $86.38 and its 200-day moving average price is $92.42. The company has a market capitalization of $6.14 billion, a P/E ratio of 24.90 and a beta of 0.51.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.22. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. Burlington Stores’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. Equities research analysts expect that Burlington Stores, Inc. will post $4.20 earnings per share for the current year.

Burlington Stores announced that its Board of Directors has initiated a share buyback program on Thursday, August 24th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of analysts have recently commented on BURL shares. MKM Partners restated a “buy” rating and set a $108.00 target price (up previously from $104.00) on shares of Burlington Stores in a report on Tuesday, May 30th. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a report on Thursday, June 8th. BidaskClub upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Deutsche Bank AG started coverage on shares of Burlington Stores in a report on Thursday. They set a “buy” rating and a $108.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Burlington Stores currently has a consensus rating of “Buy” and a consensus target price of $105.75.

About Burlington Stores

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.

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

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