Rhumbline Advisers, a leading institutional investor, has increased its holdings in Burlington Stores, Inc. by 7.0% during the first quarter of this year. This information was disclosed in the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC). As a result of this transaction, Rhumbline Advisers now owns a total of 80,989 shares of Burlington Stores’ stock, representing an additional 5,328 shares acquired during this period.
With these new shares in its portfolio, Rhumbline Advisers now holds approximately 0.12% ownership stake in Burlington Stores. Based on the most recent SEC filing, the total value of these holdings amounts to $16.4 million.
Burlington Stores, Inc. is a renowned retailer primarily operating in the United States. The company specializes in offering branded apparel products for men, women, and youth segments. In addition to apparel items such as ready-to-wear garments and footwear, Burlington Stores also provides a wide range of accessories, including toys, gifts, coats, baby products, home goods, and beauty items.
This new development reflects Rhumbline Advisers’ continued interest and confidence in Burlington Stores as an investment prospect. With their increased stake in the company’s stock and considerable investment value attached to it, Rhumbline Advisers joins other investors who recognize the potential growth opportunities and profitability associated with Burlington Stores.
Investors and industry analysts can interpret this move as a positive indication for Burlington Stores’ future prospects within the retail sector. As an established player in the market known for its diverse product offerings and focus on fashion-forward merchandise, Burlington Stores has solidified its position as a go-to destination for shoppers seeking affordable yet stylish apparel options.
It is important to note that Form 13F filings are required by institutional investors with over $100 million in assets under management when reporting their equity holdings quarterly to the SEC. These filings provide valuable insights into the investment strategies and activities of major players in the financial industry.
As of September 2, 2023, Rhumbline Advisers’ increased stake in Burlington Stores presents a notable development in the retail sector. Investors can monitor this situation closely to assess how it may impact the stock prices and market performance of both Rhumbline Advisers and Burlington Stores moving forward.
Overall, this recent investment by Rhumbline Advisers underscores their confidence in Burlington Stores as a promising investment opportunity within the apparel retail industry. The company’s strong market position and diverse product offerings are likely contributing factors that have attracted institutional investors like Rhumbline Advisers to increase their holdings. It will be interesting to observe how this development unfolds and its potential implications for both parties involved.
Institutional Investors Make Notable Changes to Holdings in Burlington Stores Amid Mixed Analyst Ratings
In recent months, several institutional investors have made modifications to their holdings in Burlington Stores, a leading retailer in the United States. Citigroup Inc., for instance, increased its stake in the company by an astounding 62.4% during the first quarter of this year. This move saw Citigroup now owning 38,045 shares of Burlington Stores stock, worth a total of $7,689,000 after purchasing an additional 14,625 shares.
Another notable institutional investor that boosted its position in Burlington Stores is Zions Bancorporation N.A., which increased its holdings by 12.0% during the first quarter. Zions Bancorporation N.A. now owns 5,624 shares of the company’s stock valued at $1,137,000 after purchasing an additional 601 shares.
Landscape Capital Management L.L.C., on the other hand, acquired a new stake in Burlington Stores during the first quarter with a staggering value of $13,643,000. Similarly, Capula Management Ltd also purchased a new stake worth $273,000 during the same period.
Furthermore, Bessemer Group Inc. increased its position in Burlington Stores by 0.5% during the first quarter. With this increase, Bessemer Group Inc. now owns an impressive 727,476 shares of the company’s stock worth $147,022,000 after purchasing an additional 3,303 shares.
While these changes may seem perplexing to some investors and analysts alike due to their magnitude and timing relative to market conditions and trends within the retail sector as a whole; it is important to note that many factors can influence institutional investors’ decisions regarding their holdings in companies such as Burlington Stores.
Recent research reports have shed some light on these investment decisions and offered insights into analysts’ perspectives on Burlington Stores’ performance and potential for growth. For example StockNews.com recently upgraded their rating from “hold” to “buy” in a research report published on August 25th.
Similarly, Citigroup decreased their target price on Burlington Stores from $234.00 to $220.00 but maintained a positive outlook on the stock, identifying it as a “buy.”
Another research firm, Loop Capital, recently increased their target price on Burlington Stores from $220.00 to $225.00, indicating their confidence in the company’s future growth prospects.
On the other hand, Robert W. Baird downgraded their price target for Burlington Stores from $270.00 to $250.00 and Gordon Haskett reduced their previous rating of “accumulate” to “buy,” lowering their price target from $200.00 to $175.00 while maintaining an optimistic stance.
Overall, Bloomberg.com reported that Burlington Stores currently has an average rating of “Moderate Buy,” with fifteen analysts issuing a buy rating and two holding a hold rating on the stock.
As of Friday’s opening at $162.27, Burlington Stores had a market capitalization of approximately $10.52 billion and a P/E ratio of 39.97, suggesting potential overvaluation based on historical financial indicators.
With a beta of 1.11, indicating above-average volatility relative to the overall market, investors should be aware of potential investment risks associated with fluctuations in Burlington Stores’ stock price.
Looking at its performance over the past year, Burlington Stores experienced significant volatility between its 52-week low and high values—$106.47 and $239.94 respectively—indicating potential trading opportunities for investors who can stomach such variability.
In terms of financial performance, Burlington Stores last released its earnings results on August 24th, surpassing analyst expectations with reported earnings per share (EPS) of $0.60 for the quarter compared to an estimated EPS of $0.43.
The company also recorded revenue of $2.17 billion during this period, which aligned with analyst estimates. When comparing to the same quarter of the previous year, Burlington Stores saw a 9.4% increase in revenue.
Notably, Burlington Stores achieved a return on equity of 41.25% and a net margin of 2.92%, reflecting strong profitability measures.
With these impressive results, equities research analysts project that Burlington Stores will post approximately $5.76 earnings per share for the current fiscal year.
In conclusion, while financial markets can be perplexing and even bewildering at times, the recent changes in institutional investors’ holdings of Burlington Stores signal both confidence and uncertainty. As analysts offer diverse ratings and price targets for the stock, investors must carefully consider multiple factors before making informed decisions regarding their investments in Burlington Stores.