Corebridge Financial Inc. Trims Stock Position in Burlington Stores, Inc. (NYSE:BURL)

Corebridge Financial Inc. decreased its holdings in shares of Burlington Stores, Inc. (NYSE:BURL) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 71,995 shares of the company’s stock after selling 3,399 shares during the quarter. Corebridge Financial Inc.’s holdings in Burlington Stores were worth $20,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Buckingham Capital Management Inc. lifted its stake in Burlington Stores by 159.0% in the 4th quarter. Buckingham Capital Management Inc. now owns 17,419 shares of the company’s stock worth $4,965,000 after purchasing an additional 10,693 shares in the last quarter. Logan Capital Management Inc. boosted its position in shares of Burlington Stores by 9.1% during the 3rd quarter. Logan Capital Management Inc. now owns 56,354 shares of the company’s stock valued at $14,848,000 after acquiring an additional 4,695 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Burlington Stores by 7.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 378,921 shares of the company’s stock valued at $108,292,000 after purchasing an additional 26,412 shares in the last quarter. HB Wealth Management LLC bought a new stake in Burlington Stores in the fourth quarter worth $265,000. Finally, Dai ichi Life Insurance Company Ltd purchased a new stake in Burlington Stores during the third quarter valued at $1,190,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BURL. UBS Group lifted 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. Evercore ISI lifted their price target on shares of Burlington Stores from $315.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $340.00 price objective on shares of Burlington Stores in a research report on Thursday, March 6th. Barclays raised their target price on shares of Burlington Stores from $317.00 to $329.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Morgan Stanley lifted their price objective on Burlington Stores from $296.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Burlington Stores presently has an average rating of “Moderate Buy” and a consensus price target of $323.20.

Burlington Stores Price Performance

Shares of NYSE BURL opened at $248.84 on Tuesday. 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 has a market cap of $15.73 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 1.11 and a beta of 1.73. The company’s 50-day moving average price is $257.35 and its 200 day moving average price is $266.95. Burlington Stores, Inc. has a 52 week low of $174.64 and a 52 week high of $298.89.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Thursday, March 6th. The company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.75 by $0.32. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion. Burlington Stores had a net margin of 4.49% and a return on equity of 47.52%. As a group, research analysts forecast that Burlington Stores, Inc. will post 7.93 earnings per share for the current fiscal year.

Insider Activity at Burlington Stores

In related news, CMO Jennifer Vecchio sold 494 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $284.95, for a total value of $140,765.30. Following the completion of the transaction, the chief marketing officer now owns 59,437 shares of the company’s stock, valued at approximately $16,936,573.15. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 5,926 shares of company stock worth $1,461,774. 0.91% of the stock is currently owned by corporate 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.