Northern Trust Corp decreased its holdings in shares of Urban Outfitters (NASDAQ:URBN) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 661,298 shares of the apparel retailer’s stock after selling 10,793 shares during the period. Northern Trust Corp owned approximately 0.61% of Urban Outfitters worth $24,441,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. First Mercantile Trust Co. purchased a new stake in shares of Urban Outfitters during the first quarter worth about $143,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Urban Outfitters by 42.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,094 shares of the apparel retailer’s stock worth $179,000 after acquiring an additional 1,522 shares during the last quarter. BRYN MAWR TRUST Co purchased a new stake in shares of Urban Outfitters during the fourth quarter worth about $207,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Urban Outfitters during the fourth quarter worth about $272,000. Finally, AMP Capital Investors Ltd purchased a new stake in shares of Urban Outfitters during the fourth quarter worth about $277,000. Institutional investors and hedge funds own 70.82% of the company’s stock.
In other Urban Outfitters news, Director Joel S. Lawson III sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the transaction, the director now directly owns 27,000 shares of the company’s stock, valued at $996,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel S. Lawson III sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the transaction, the director now directly owns 17,000 shares of the company’s stock, valued at $782,000. The disclosure for this sale can be found here. Insiders sold 348,430 shares of company stock valued at $13,733,693 over the last three months. 25.90% of the stock is currently owned by corporate insiders.
A number of brokerages have recently weighed in on URBN. JPMorgan Chase & Co. boosted their price target on Urban Outfitters from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 10th. Deutsche Bank boosted their price target on Urban Outfitters from $32.00 to $35.00 and gave the stock a “sell” rating in a research note on Tuesday, June 12th. Telsey Advisory Group boosted their price target on Urban Outfitters from $39.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 23rd. BidaskClub upgraded Urban Outfitters from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Finally, Loop Capital began coverage on Urban Outfitters in a research note on Thursday, March 8th. They set a “buy” rating and a $46.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.83.
Shares of Urban Outfitters opened at $46.05 on Friday, MarketBeat.com reports. Urban Outfitters has a 12-month low of $16.68 and a 12-month high of $48.24. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 1.55 and a beta of 0.52.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, May 22nd. The apparel retailer reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.08. Urban Outfitters had a return on equity of 16.13% and a net margin of 3.71%. The company had revenue of $855.70 million during the quarter, compared to the consensus estimate of $837.79 million. During the same period in the previous year, the company posted $0.13 earnings per share. Urban Outfitters’s revenue for the quarter was up 12.4% on a year-over-year basis. equities research analysts predict that Urban Outfitters will post 2.49 EPS for the current fiscal year.
About Urban Outfitters
Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.
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