Corebridge Financial Inc. Reduces Holdings in Burlington Stores, Inc. (NYSE:BURL)

Corebridge Financial Inc. reduced its stake in Burlington Stores, Inc. (NYSE:BURL) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,995 shares of the company’s stock after selling 3,399 shares during the period. Corebridge Financial Inc. owned about 0.11% of Burlington Stores worth $20,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Emerald Advisers LLC raised its holdings in Burlington Stores by 60.6% during the 4th quarter. Emerald Advisers LLC now owns 2,244 shares of the company’s stock valued at $640,000 after buying an additional 847 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Burlington Stores in the fourth quarter valued at about $536,000. LPL Financial LLC raised its stake in shares of Burlington Stores by 18.6% during the fourth quarter. LPL Financial LLC now owns 19,567 shares of the company’s stock valued at $5,648,000 after acquiring an additional 3,071 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Burlington Stores in the fourth quarter worth about $6,556,000. Finally, American Century Companies Inc. grew its stake in shares of Burlington Stores by 17.1% in the fourth quarter. American Century Companies Inc. now owns 708,120 shares of the company’s stock worth $201,857,000 after purchasing an additional 103,202 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup dropped their price objective on Burlington Stores from $344.00 to $340.00 and set a “buy” rating for the company in a report on Friday, March 7th. Evercore ISI lifted their price target on shares of Burlington Stores from $315.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Telsey Advisory Group restated an “outperform” rating and issued a $340.00 price objective on shares of Burlington Stores in a report on Thursday, March 6th. UBS Group raised their target price on shares of Burlington Stores from $360.00 to $405.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, TD Cowen boosted their price target on shares of Burlington Stores from $334.00 to $339.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.20.

Insider Buying and Selling at Burlington Stores

In other Burlington Stores news, CMO Jennifer Vecchio sold 494 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $284.95, for a total transaction of $140,765.30. Following the transaction, the chief marketing officer now owns 59,437 shares in the company, valued at approximately $16,936,573.15. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 5,926 shares of company stock worth $1,461,774. Insiders own 0.91% of the company’s stock.

Burlington Stores Trading Up 6.4 %

Burlington Stores stock opened at $248.84 on Tuesday. Burlington Stores, Inc. has a 12 month low of $174.64 and a 12 month high of $298.89. 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 business’s fifty day simple moving average is $257.35 and its two-hundred day simple moving average is $266.95. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 1.11 and a beta of 1.73.

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

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.