Burlington Stores, Inc. (NYSE:BURL) CEO Sells $1,764,000.00 in Stock
Burlington Stores, Inc. (NYSE:BURL) CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $88.20, for a total transaction of $1,764,000.00. Following the transaction, the chief executive officer now directly owns 538,308 shares of the company’s stock, valued at $47,478,765.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Burlington Stores, Inc. (NYSE BURL) traded up 1.95% during mid-day trading on Wednesday, hitting $88.99. 879,796 shares of the company were exchanged. The company has a 50 day moving average of $95.81 and a 200 day moving average of $91.81. Burlington Stores, Inc. has a 12-month low of $66.60 and a 12-month high of $104.07. The stock has a market cap of $6.15 billion, a P/E ratio of 27.61 and a beta of 0.53.
Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, May 25th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Burlington Stores had a net margin of 4.08% and a negative return on equity of 294.39%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Burlington Stores, Inc. will post $3.97 earnings per share for the current fiscal year.
BURL has been the subject of a number of analyst reports. Cowen and Company set a $103.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a research note on Saturday, April 8th. MKM Partners restated a “buy” rating and set a $108.00 price target (up from $104.00) on shares of Burlington Stores in a research report on Tuesday, May 30th. BMO Capital Markets set a $115.00 price target on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Thursday, June 8th. Wolfe Research began coverage on shares of Burlington Stores in a research report on Friday, April 28th. They set an “outperform” rating and a $113.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $103.52.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC acquired a new position in Burlington Stores during the first quarter worth about $122,000. CAPROCK Group Inc. purchased a new stake in shares of Burlington Stores during the first quarter worth $202,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Burlington Stores during the first quarter worth $204,000. Laurion Capital Management LP purchased a new stake in shares of Burlington Stores during the first quarter worth $204,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Burlington Stores during the fourth quarter worth $207,000.
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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