Empowered Funds LLC acquired a new position in Urban Outfitters, Inc. (NASDAQ:URBN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 36,563 shares of the apparel retailer’s stock, valued at approximately $1,520,000.
A number of other large investors have also recently made changes to their positions in URBN. Wells Fargo & Company MN grew its stake in Urban Outfitters by 11.0% in the first quarter. Wells Fargo & Company MN now owns 203,575 shares of the apparel retailer’s stock worth $7,523,000 after purchasing an additional 20,228 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Urban Outfitters by 52.3% in the first quarter. Russell Investments Group Ltd. now owns 197,319 shares of the apparel retailer’s stock worth $7,258,000 after purchasing an additional 67,766 shares in the last quarter. Sei Investments Co. grew its stake in Urban Outfitters by 76.1% in the first quarter. Sei Investments Co. now owns 22,464 shares of the apparel retailer’s stock worth $831,000 after purchasing an additional 9,704 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in Urban Outfitters in the first quarter worth approximately $274,000. Finally, Allianz Asset Management GmbH bought a new position in Urban Outfitters in the first quarter worth approximately $265,000. 78.56% of the stock is currently owned by institutional investors.
URBN has been the topic of several recent research reports. MKM Partners increased their target price on Urban Outfitters to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, August 22nd. BidaskClub raised Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday, August 11th. ValuEngine cut Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Deutsche Bank increased their target price on Urban Outfitters from $35.00 to $39.00 and gave the company a “sell” rating in a research report on Wednesday, August 22nd. Finally, DA Davidson initiated coverage on Urban Outfitters in a research report on Tuesday, September 25th. They set a “neutral” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Urban Outfitters currently has a consensus rating of “Hold” and an average target price of $45.83.
Shares of URBN traded down $0.92 during midday trading on Friday, hitting $40.44. 2,111,280 shares of the company’s stock traded hands, compared to its average volume of 2,276,952. Urban Outfitters, Inc. has a 1 year low of $24.58 and a 1 year high of $52.50. The firm has a market cap of $4.44 billion, a PE ratio of 24.22, a P/E/G ratio of 1.20 and a beta of 0.54.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Tuesday, August 21st. The apparel retailer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. Urban Outfitters had a return on equity of 18.92% and a net margin of 4.71%. The firm had revenue of $992.50 million during the quarter, compared to analyst estimates of $980.19 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts forecast that Urban Outfitters, Inc. will post 2.66 earnings per share for the current fiscal year.
In related news, CEO Trish Donnelly sold 19,332 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $46.10, for a total value of $891,205.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.90% of the company’s stock.
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Urban Outfitters Company Profile
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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