Allspring Global Investments Holdings LLC Buys 20,510 Shares of Burlington Stores, Inc. (NYSE:BURL)

Allspring Global Investments Holdings LLC increased its stake in Burlington Stores, Inc. (NYSE:BURL) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 345,709 shares of the company’s stock after purchasing an additional 20,510 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Burlington Stores were worth $67,233,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in shares of Burlington Stores in the fourth quarter worth $1,875,000. State of Alaska Department of Revenue grew its position in Burlington Stores by 77.8% in the fourth quarter. State of Alaska Department of Revenue now owns 16,481 shares of the company’s stock valued at $3,204,000 after acquiring an additional 7,210 shares during the last quarter. Nordea Investment Management AB grew its position in Burlington Stores by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,382 shares of the company’s stock valued at $860,000 after acquiring an additional 289 shares during the last quarter. State of Michigan Retirement System bought a new position in Burlington Stores in the fourth quarter valued at about $3,034,000. Finally, International Assets Investment Management LLC bought a new position in Burlington Stores in the fourth quarter valued at about $129,730,000.

Insider Buying and Selling

In related news, CMO Jennifer Vecchio sold 5,025 shares of Burlington Stores stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $225.24, for a total value of $1,131,831.00. Following the transaction, the chief marketing officer now directly owns 61,115 shares of the company’s stock, valued at $13,765,542.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by insiders.

Burlington Stores Stock Performance

NYSE:BURL opened at $199.45 on Wednesday. The stock has a market cap of $12.74 billion, a P/E ratio of 37.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49. The company has a current ratio of 1.15, a quick ratio of 0.61 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average is $209.02 and its 200-day moving average is $177.16. Burlington Stores, Inc. has a 1-year low of $115.66 and a 1-year high of $232.69.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Thursday, March 7th. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.02. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.07 billion. Burlington Stores had a return on equity of 45.28% and a net margin of 3.49%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.96 earnings per share. Equities research analysts anticipate that Burlington Stores, Inc. will post 7.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on BURL shares. StockNews.com upgraded Burlington Stores from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 target price (up previously from $225.00) on shares of Burlington Stores in a research report on Monday, March 4th. Piper Sandler upgraded Burlington Stores from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $155.00 to $240.00 in a research report on Wednesday, January 17th. Finally, Evercore ISI lifted their target price on Burlington Stores from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.69.

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.