Urban Outfitters, Inc. $URBN Shares Sold by Legal & General Group Plc

by · The Markets Daily

Legal & General Group Plc cut its holdings in Urban Outfitters, Inc. (NASDAQ:URBN – Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 152,048 shares of the apparel retailer’s stock after selling 8,332 shares during the period. Legal & General Group Plc owned about 0.17% of Urban Outfitters worth $11,443,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of URBN. Jupiter Asset Management Ltd. boosted its holdings in shares of Urban Outfitters by 900.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 969,999 shares of the apparel retailer’s stock valued at $69,287,000 after buying an additional 873,008 shares during the period. Capital World Investors acquired a new position in shares of Urban Outfitters in the 3rd quarter valued at about $60,795,000. Balyasny Asset Management L.P. boosted its holdings in shares of Urban Outfitters by 5,360.2% in the 3rd 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 during the period. American Century Companies Inc. boosted its holdings in shares of Urban Outfitters by 23.1% in the 3rd quarter. American Century Companies Inc. now owns 2,879,092 shares of the apparel retailer’s stock valued at $205,654,000 after buying an additional 540,877 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Urban Outfitters by 339.3% in the 4th 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 period. 77.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

URBN has been the subject of several research reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $98.00 price target on shares of Urban Outfitters in a report on Thursday, February 26th. Wall Street Zen lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $72.00 price target on shares of Urban Outfitters in a report on Thursday, May 21st. Bank of America lifted their price target on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.18.

Read Our Latest Stock Analysis on Urban Outfitters

Urban Outfitters Stock Up 0.4%

Shares of NASDAQ:URBN opened at $72.57 on Thursday. The company has a market cap of $6.21 billion, a PE ratio of 13.93, a P/E/G ratio of 1.37 and a beta of 1.22. The company’s 50-day moving average price is $69.35 and its 200 day moving average price is $70.68. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35.

Urban Outfitters (NASDAQ:URBN – Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.18. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. Urban Outfitters’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS. As a group, equities analysts anticipate that Urban Outfitters, Inc. will post 5.97 EPS for the current year.

Insider Activity

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Company insiders own 32.10% of the company’s stock.

About Urban Outfitters

(Free Report)

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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