Mirae Asset Global Investments Co. Ltd. Cuts Stake in Burlington Stores, Inc. (NYSE:BURL)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Burlington Stores, Inc. (NYSE:BURL) by 30.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,959 shares of the company’s stock after selling 40,788 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.14% of Burlington Stores worth $21,350,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Retirement Systems of Alabama raised its holdings in shares of Burlington Stores by 30.2% during the 1st quarter. Retirement Systems of Alabama now owns 121,193 shares of the company’s stock worth $28,140,000 after acquiring an additional 28,130 shares in the last quarter. Norden Group LLC bought a new stake in shares of Burlington Stores in the 1st quarter worth about $438,000. Principal Financial Group Inc. grew its position in Burlington Stores by 9.8% in the first quarter. Principal Financial Group Inc. now owns 264,395 shares of the company’s stock worth $61,390,000 after acquiring an additional 23,622 shares in the last quarter. New York State Teachers Retirement System increased its stake in Burlington Stores by 0.8% during the first quarter. New York State Teachers Retirement System now owns 40,280 shares of the company’s stock worth $9,353,000 after acquiring an additional 300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Burlington Stores by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,463 shares of the company’s stock valued at $2,894,000 after purchasing an additional 514 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently weighed in on BURL shares. Evercore ISI increased their price target on Burlington Stores from $250.00 to $274.00 and gave the company an “outperform” rating in a report on Friday, May 31st. UBS Group upped their target price on Burlington Stores from $212.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. lifted their target price on Burlington Stores from $246.00 to $284.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Barclays raised their price target on shares of Burlington Stores from $252.00 to $274.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Bank of America boosted their price objective on shares of Burlington Stores from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Burlington Stores presently has an average rating of “Moderate Buy” and an average price target of $246.87.

Burlington Stores Stock Up 0.9 %

Shares of Burlington Stores stock traded up $2.04 on Friday, reaching $235.68. The stock had a trading volume of 422,925 shares, compared to its average volume of 785,328. The company has a quick ratio of 0.52, a current ratio of 1.07 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $15.04 billion, a P/E ratio of 39.49, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a 50 day moving average price of $214.41 and a 200 day moving average price of $205.31. Burlington Stores, Inc. has a 1 year low of $115.66 and a 1 year high of $245.43.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.38. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.34 billion. Burlington Stores had a return on equity of 46.39% and a net margin of 3.87%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, equities research analysts forecast that Burlington Stores, Inc. will post 7.6 EPS 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.