Melvin Capital Management Lp buys $80,524,500 stake in Burlington Stores Inc (BURL)

Burlington Stores Inc (BURL) : Melvin Capital Management Lp scooped up 125,000 additional shares in Burlington Stores Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,050,000 shares of Burlington Stores Inc which is valued at $80,524,500.Burlington Stores Inc makes up approximately 3.42% of Melvin Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management reduced its stake in BURL by selling 486,926 shares or 52.2% in the most recent quarter. The Hedge Fund company now holds 445,800 shares of BURL which is valued at $34,188,402. Burlington Stores Inc makes up approx 0.27% of Point72 Asset Management’s portfolio. Bayesian Capital Management Lp added BURL to its portfolio by purchasing 9,200 company shares during the most recent quarter which is valued at $705,548. Burlington Stores Inc makes up approx 0.40% of Bayesian Capital Management Lp’s portfolio.Horseman Capital Management Ltd boosted its stake in BURL in the latest quarter, The investment management firm added 78,000 additional shares and now holds a total of 430,000 shares of Burlington Stores Inc which is valued at $32,976,700. Burlington Stores Inc makes up approx 6.55% of Horseman Capital Management Ltd’s portfolio. Turner Investments added BURL to its portfolio by purchasing 27,000 company shares during the most recent quarter which is valued at $2,058,480. Burlington Stores Inc makes up approx 0.60% of Turner Investments’s portfolio.

Burlington Stores Inc opened for trading at $80.95 and hit $83.17 on the upside on Thursday, eventually ending the session at $82.59, with a gain of 1.69% or 1.37 points. The heightened volatility saw the trading volume jump to 25,61,048 shares. Company has a market cap of $5,892 M.

On the company’s financial health, Burlington Stores Inc reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 25, 2016. Analyst had a consensus of $0.30. The company had revenue of $1255.05 million for the quarter, compared to analysts expectations of $1240.54 million. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Burlington Stores Inc. Company shares were Reiterated by Telsey Advisory Group on Aug 26, 2016 to “Market Perform”, Firm has raised the Price Target to $ 86 from a previous price target of $84 .Company shares were Reiterated by RBC Capital Mkts on Aug 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .Company shares were Reiterated by MKM Partners on Jul 25, 2016 to “Neutral”, Firm has raised the Price Target to $ 73 from a previous price target of $59 .

Burlington Stores Inc. is a retailer of branded apparel. As of January 31 2015 the Company had 542 stores inclusive of an Internet store in 44 states of the United States and Puerto Rico. The Company’s offerings for women include dresses tops bottoms coats shoes suits and suit separates handbags intimates and sleepwear active wear sweaters swimwear and cover-ups jewelry and watches maternity beauty and fragrance and scrubs. The Company’s offerings for men include t-shirts suits and suit separates coats shoes pants button downs jeans shorts dress shirts polos hoodies and sweatshirts swim and active wear sports fan shop socks and underwear pajamas and robes grooming gadgets and gifts belts wallets and sweaters. The Company’s offerings for juniors include dresses tops bottoms shoes coats sweaters handbags sleepwear swimwear beauty and fragrance jewelry and watches.

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