Jennison Associates LLC Cuts Stock Holdings in Burlington Stores, Inc. (NYSE:BURL)

Jennison Associates LLC trimmed its position in shares of Burlington Stores, Inc. (NYSE:BURL) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 458,866 shares of the company’s stock after selling 19,086 shares during the quarter. Jennison Associates LLC’s holdings in Burlington Stores were worth $89,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Duality Advisers LP bought a new position in Burlington Stores during the fourth quarter valued at approximately $883,000. Handelsbanken Fonder AB lifted its stake in Burlington Stores by 9.2% in the fourth quarter. Handelsbanken Fonder AB now owns 14,000 shares of the company’s stock worth $2,723,000 after acquiring an additional 1,174 shares during the period. CWM LLC lifted its stake in Burlington Stores by 10.5% in the fourth quarter. CWM LLC now owns 1,346 shares of the company’s stock worth $262,000 after acquiring an additional 128 shares during the period. Signaturefd LLC lifted its stake in Burlington Stores by 63.9% in the fourth quarter. Signaturefd LLC now owns 459 shares of the company’s stock worth $89,000 after acquiring an additional 179 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in Burlington Stores by 114.6% in the fourth quarter. Lindbrook Capital LLC now owns 176 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares during the period.

Burlington Stores Price Performance

Shares of BURL stock opened at $177.64 on Tuesday. Burlington Stores, Inc. has a twelve month low of $115.66 and a twelve month high of $232.69. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 1.04 and a beta of 1.49. The stock has a fifty day simple moving average of $207.05 and a two-hundred day simple moving average of $180.59. The company has a current ratio of 1.15, a quick ratio of 0.61 and a debt-to-equity ratio of 1.40.

Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, March 7th. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.02. Burlington Stores had a return on equity of 45.28% and a net margin of 3.49%. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the business earned $2.96 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts predict that Burlington Stores, Inc. will post 7.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BURL has been the subject of a number of research analyst reports. Piper Sandler raised Burlington Stores from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $155.00 to $240.00 in a research note on Wednesday, January 17th. Telsey Advisory Group restated an “outperform” rating and set a $250.00 price target (up from $225.00) on shares of Burlington Stores in a report on Monday, March 4th. StockNews.com upgraded Burlington Stores from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Finally, Evercore ISI raised their target price on Burlington Stores from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.69.

Insider Buying and Selling

In related news, CMO Jennifer Vecchio sold 5,025 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $225.24, for a total transaction of $1,131,831.00. Following the completion of the sale, the chief marketing officer now directly owns 61,115 shares in the company, valued at approximately $13,765,542.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by company insiders.

Burlington Stores 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.