Norges Bank Invests $227.27 Million in Burlington Stores, Inc. (NYSE:BURL)

Norges Bank acquired a new position in Burlington Stores, Inc. (NYSE:BURL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 797,265 shares of the company's stock, valued at approximately $227,268,000. Norges Bank owned 1.26% of Burlington Stores at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Burlington Stores by 17.1% during the fourth quarter. American Century Companies Inc. now owns 708,120 shares of the company's stock valued at $201,857,000 after purchasing an additional 103,202 shares during the period. Victory Capital Management Inc. lifted its holdings in Burlington Stores by 52.7% during the 4th quarter. Victory Capital Management Inc. now owns 222,151 shares of the company's stock valued at $63,326,000 after buying an additional 76,684 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Burlington Stores in the 4th quarter valued at about $20,965,000. Raymond James Financial Inc. bought a new position in Burlington Stores in the 4th quarter worth about $17,330,000. Finally, Principal Financial Group Inc. increased its position in shares of Burlington Stores by 35.3% during the fourth quarter. Principal Financial Group Inc. now owns 227,020 shares of the company's stock worth $64,714,000 after acquiring an additional 59,173 shares during the period.

Analysts Set New Price Targets

BURL has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Burlington Stores from $296.00 to $297.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup cut their price target on Burlington Stores from $344.00 to $340.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. UBS Group upped their price objective on shares of Burlington Stores from $360.00 to $405.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. TD Cowen raised their target price on shares of Burlington Stores from $334.00 to $339.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Finally, Robert W. Baird upped their price target on shares of Burlington Stores from $330.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Burlington Stores currently has an average rating of "Moderate Buy" and a consensus target price of $323.20.

Remove Ads

Insider Buying and Selling

In other news, CMO Jennifer Vecchio sold 4,939 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $239.94, for a total value of $1,185,063.66. Following the transaction, the chief marketing officer now directly owns 70,006 shares of the company's stock, valued at approximately $16,797,239.64. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is currently owned by company insiders.

Burlington Stores Stock Down 2.2 %

Shares of BURL stock traded down $5.14 during trading hours on Friday, reaching $230.52. 3,035,888 shares of the company's stock were exchanged, compared to its average volume of 959,951. The stock has a market cap of $14.57 billion, a PE ratio of 31.58, a PEG ratio of 1.11 and a beta of 1.73. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 1.35. The stock's fifty day moving average price is $248.86 and its two-hundred day moving average price is $265.30. Burlington Stores, Inc. has a 1 year low of $174.64 and a 1 year high of $298.89.

Burlington Stores (NYSE:BURL - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $4.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.75 by $0.32. Burlington Stores had a net margin of 4.49% and a return on equity of 47.52%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. Research analysts predict that Burlington Stores, Inc. will post 7.93 EPS for the current year.

Burlington Stores Company 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.