Bank of Nova Scotia Acquires 77,916 Shares of Burlington Stores, Inc. (NYSE:BURL)

Bank of Nova Scotia boosted its position in Burlington Stores, Inc. (NYSE:BURL - Free Report) by 3,169.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,374 shares of the company's stock after purchasing an additional 77,916 shares during the period. Bank of Nova Scotia owned approximately 0.13% of Burlington Stores worth $22,911,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in Burlington Stores by 11.4% during the third quarter. Quantinno Capital Management LP now owns 7,972 shares of the company's stock worth $2,100,000 after buying an additional 819 shares in the last quarter. Stifel Financial Corp raised its position in shares of Burlington Stores by 178.5% during the third quarter. Stifel Financial Corp now owns 4,713 shares of the company's stock worth $1,242,000 after purchasing an additional 3,021 shares during the period. National Bank of Canada FI lifted its holdings in shares of Burlington Stores by 38.9% during the third quarter. National Bank of Canada FI now owns 28,970 shares of the company's stock valued at $7,633,000 after purchasing an additional 8,113 shares during the last quarter. MML Investors Services LLC increased its stake in Burlington Stores by 13.0% in the 3rd quarter. MML Investors Services LLC now owns 2,675 shares of the company's stock worth $705,000 after purchasing an additional 308 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Burlington Stores by 8.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 18,395 shares of the company's stock worth $4,847,000 after buying an additional 1,427 shares during the period.

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Insider Transactions at Burlington Stores

In related news, CMO Jennifer Vecchio sold 493 shares of Burlington Stores stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $275.75, for a total transaction of $135,944.75. Following the sale, the chief marketing officer now directly owns 58,944 shares of the company's stock, valued at $16,253,808. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Burlington Stores from $296.00 to $297.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Burlington Stores in a research note on Thursday, March 6th. Robert W. Baird boosted their target price on shares of Burlington Stores from $330.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on Burlington Stores from $336.00 to $287.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Barclays upped their price target on Burlington Stores from $317.00 to $329.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $323.13.

Burlington Stores Stock Performance

BURL stock traded down $1.57 during midday trading on Tuesday, hitting $237.88. 312,449 shares of the company traded hands, compared to its average volume of 1,182,495. The business has a 50 day simple moving average of $241.35 and a 200-day simple moving average of $263.21. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. Burlington Stores, Inc. has a twelve month low of $174.64 and a twelve month high of $298.89. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.65.

Burlington Stores (NYSE:BURL - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $4.07 earnings per share for the quarter, topping 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. As a group, equities research analysts predict that Burlington Stores, Inc. will post 7.93 earnings per share for the current 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.