Kentucky Retirement Systems bought a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 9,004 shares of the apparel retailer’s stock, valued at approximately $570,000.
Other large investors have also bought and sold shares of the company. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters during the fourth quarter worth approximately $127,114,000. Balyasny Asset Management L.P. lifted its stake in shares of Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after buying an additional 606,831 shares in the last quarter. Norges Bank acquired a new position in shares of Urban Outfitters during the fourth quarter valued at about $44,191,000. UBS Group AG grew its holdings in shares of Urban Outfitters by 339.3% during the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock valued at $48,276,000 after buying an additional 495,441 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Urban Outfitters by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock worth $273,274,000 after acquiring an additional 338,622 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Barclays dropped their price objective on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Bank of America upped their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. Finally, Zacks Research raised Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.91.
Insider Activity at Urban Outfitters
In related news, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 32.10% of the company’s stock.
Urban Outfitters Stock Performance
URBN stock opened at $74.18 on Friday. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.40 and a beta of 1.22. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35. The stock has a fifty day moving average of $72.76 and a 200-day moving average of $69.93.
Urban Outfitters (NASDAQ:URBN – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. Equities analysts predict that Urban Outfitters, Inc. will post 6.13 EPS for the current year.
About Urban Outfitters
Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.
The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.
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