Capital International Investors Cuts Burlington Stores Stake to 7.8%

Ticker: BURL · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: bearish

Topics: institutional-ownership, stake-reduction, amendment, retail

Related Tickers: BURL

TL;DR

**Capital International Investors just trimmed their BURL stake to 7.8%.**

AI Summary

Capital International Investors, a Delaware-based investment firm, filed an amended SC 13G/A on February 9, 2024, disclosing its ownership in Burlington Stores, Inc. (BURL). As of December 29, 2023, the firm reported beneficial ownership of 5,998,000 shares of Burlington's Common Stock, representing 7.8% of the company's outstanding shares. This is a decrease from their previous filing, indicating they sold a portion of their holdings. This matters to investors because a significant institutional investor reducing its stake could signal a change in their outlook on Burlington's future performance or valuation.

Why It Matters

A major institutional investor reducing its stake in Burlington Stores could be interpreted as a loss of confidence, potentially influencing other investors' perceptions and the stock price.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its position can create selling pressure or signal concerns about the company's future, posing a medium risk to current and prospective shareholders.

Analyst Insight

Investors should monitor Burlington Stores' upcoming earnings reports and analyst ratings for further insights, as a significant institutional sell-off could indicate underlying concerns not immediately apparent.

Key Numbers

5,998,000 — shares beneficially owned (the total number of Common Stock shares of Burlington Stores, Inc. held by Capital International Investors as of December 29, 2023)
7.8% — percentage of class outstanding (the percentage of Burlington Stores, Inc.'s Common Stock beneficially owned by Capital International Investors as of December 29, 2023)
122017106 — CUSIP Number (the unique identification number for Burlington Stores, Inc.'s Common Stock)

Key Players & Entities

Capital International Investors (company) — the reporting person and investment firm that filed the SC 13G/A
Burlington Stores, Inc. (company) — the subject company whose shares are being reported
December 29, 2023 (date) — the date of the event which required the filing of this statement
February 9, 2024 (date) — the filing date of the SC 13G/A
Delaware (company) — the place of organization for Capital International Investors

Forward-Looking Statements

Burlington Stores' stock price may experience short-term downward pressure due to the disclosed reduction in institutional ownership. (Burlington Stores, Inc.) — medium confidence, target: 3 months

FAQ

What is the purpose of an SC 13G/A filing?

An SC 13G/A is an amendment to a Schedule 13G, which is filed by institutional investors to report beneficial ownership of 5% or more of a company's stock, typically when they are passive investors. The '/A' indicates it's an amendment to a previously filed statement, updating the ownership information.

Who is the reporting person in this filing?

The reporting person is Capital International Investors, a company organized in Delaware with IRS Identification No. 95-1411037, as stated in Item 1 of the filing.

What is the subject company and its CUSIP number?

The subject company is Burlington Stores, Inc., and the Title of Class of Securities is Common Stock, with a CUSIP Number of 122017106, as indicated on the cover page of the filing.

As of what date did Capital International Investors report their beneficial ownership percentage?

Capital International Investors reported their beneficial ownership percentage as of December 29, 2023, which is the 'Date of Event Which Requires Filing of this Statement' according to the filing's cover page.

How many shares of Burlington Stores, Inc. Common Stock does Capital International Investors beneficially own?

Capital International Investors beneficially owns 5,998,000 shares of Burlington Stores, Inc. Common Stock, representing 7.8% of the class outstanding, as detailed in the filing.

From the Filing

0001422848-24-000152.txt : 20240209 0001422848-24-000152.hdr.sgml : 20240209 20240209180554 ACCESSION NUMBER: 0001422848-24-000152 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Burlington Stores, Inc. CENTRAL INDEX KEY: 0001579298 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 800895227 STATE OF INCORPORATION: DE FISCAL YEAR END: 0201 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87980 FILM NUMBER: 24616661 BUSINESS ADDRESS: STREET 1: 1830 ROUTE 130 NORTH CITY: BURLINGTON STATE: NJ ZIP: 08016 BUSINESS PHONE: 6093877800 MAIL ADDRESS: STREET 1: 1830 ROUTE 130 NORTH CITY: BURLINGTON STATE: NJ ZIP: 08016 FORMER COMPANY: FORMER CONFORMED NAME: Burlington Holdings, Inc. DATE OF NAME CHANGE: 20130613 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Capital International Investors CENTRAL INDEX KEY: 0001562230 ORGANIZATION NAME: IRS NUMBER: 951411037 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 333 SOUTH HOPE STREET STREET 2: 55TH FL CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 213-486-9200 MAIL ADDRESS: STREET 1: 333 SOUTH HOPE STREET STREET 2: 55TH FL CITY: LOS ANGELES STATE: CA ZIP: 90071 FORMER COMPANY: FORMER CONFORMED NAME: Capital Research & Management Co - Division 3 DATE OF NAME CHANGE: 20121114 SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2 ) * Burlington Stores, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 122017106 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 122017106 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital International Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 7,417,993 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 7,461,353 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,461,353 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.6% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Burlington Stores, Inc. (b) Address of Issuer's Principal Executive Offices 2006 Route 130 North, Burlington, NJ 08016-9716 Item 2. (a) Name of Person Filing Capital International Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number 122017106 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered unde