Jennison Associates LLC Grows Stock Position in Burlington Stores, Inc. (NYSE:BURL)

Jennison Associates LLC increased its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 510,074 shares of the company’s stock after acquiring an additional 12,143 shares during the period. Jennison Associates LLC’s holdings in Burlington Stores were worth $134,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Burlington Stores by 2,542.2% during the second quarter. AQR Capital Management LLC now owns 247,970 shares of the company’s stock worth $59,114,000 after purchasing an additional 238,585 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Burlington Stores by 54.8% in the second quarter. Dimensional Fund Advisors LP now owns 587,376 shares of the company’s stock worth $140,968,000 after buying an additional 207,959 shares during the period. Marshall Wace LLP purchased a new stake in Burlington Stores in the 2nd quarter worth approximately $47,725,000. Assenagon Asset Management S.A. increased its holdings in Burlington Stores by 1,917.3% in the second quarter. Assenagon Asset Management S.A. now owns 207,260 shares of the company’s stock worth $49,742,000 after buying an additional 196,986 shares during the last quarter. Finally, Anomaly Capital Management LP lifted its position in shares of Burlington Stores by 34.6% in the second quarter. Anomaly Capital Management LP now owns 730,175 shares of the company’s stock worth $175,242,000 after buying an additional 187,760 shares during the last quarter.

Burlington Stores Stock Performance

Shares of Burlington Stores stock opened at $274.06 on Wednesday. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 1.37 and a beta of 1.64. Burlington Stores, Inc. has a one year low of $133.09 and a one year high of $282.49. The business’s 50 day moving average price is $261.18 and its 200 day moving average price is $246.19. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.48 and a current ratio of 1.04.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts predict that Burlington Stores, Inc. will post 7.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BURL. TD Cowen lifted their target price on Burlington Stores from $279.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price target on shares of Burlington Stores from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Barclays increased their price objective on Burlington Stores from $274.00 to $327.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. UBS Group increased their price objective on Burlington Stores from $270.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $300.00 price objective on shares of Burlington Stores in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Burlington Stores has a consensus rating of “Moderate Buy” and an average target price of $297.56.

Insider Buying and Selling

In related news, Director Paul Sullivan sold 1,705 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the completion of the transaction, the director now directly owns 7,393 shares of the company’s stock, valued at $2,048,230.65. This represents a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.91% of the stock is owned by company insiders.

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.