American Century Companies Inc. Buys 233,371 Shares of Urban Outfitters, Inc. $URBN

Key Points

• American Century Companies Inc. increased its stake in Urban Outfitters by 11.2%, acquiring an additional 233,371 shares during the first quarter, bringing its total ownership to approximately 2.51% of the company.
• Urban Outfitters reported $1.16 earnings per share (EPS) for its recent quarter, exceeding analysts' estimates of $0.81 and showing a 10.7% increase in revenue year-over-year.
• Insider trading activity included the sale of 80,000 shares by Margaret Hayne, significantly reducing her position by 99.88%. Over the last 90 days, company insiders sold a total of 159,156 shares valued at over $11 million.

American Century Companies Inc. boosted its position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,322,526 shares of the apparel retailer's stock after acquiring an additional 233,371 shares during the quarter. American Century Companies Inc. owned 2.51% of Urban Outfitters worth $121,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in URBN. Envestnet Asset Management Inc. boosted its holdings in shares of Urban Outfitters by 4.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,784 shares of the apparel retailer's stock worth $866,000 after purchasing an additional 638 shares in the last quarter. Bank of Montreal Can lifted its position in Urban Outfitters by 9.3% in the 4th quarter. Bank of Montreal Can now owns 6,730 shares of the apparel retailer's stock worth $369,000 after buying an additional 570 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Urban Outfitters in the fourth quarter worth approximately $513,000. Summit Investment Advisors Inc. grew its position in Urban Outfitters by 5.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,628 shares of the apparel retailer's stock valued at $364,000 after acquiring an additional 351 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Urban Outfitters by 114.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 315,308 shares of the apparel retailer's stock worth $17,304,000 after acquiring an additional 168,008 shares in the last quarter. Institutional investors own 77.61% of the company's stock.

Urban Outfitters Trading Down 2.6%

Shares of URBN stock traded down $1.96 during mid-day trading on Wednesday, reaching $73.37. The stock had a trading volume of 2,022,699 shares, compared to its average volume of 2,115,773. The firm has a market capitalization of $6.58 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.44. The stock's 50-day moving average price is $73.35 and its two-hundred day moving average price is $61.94. Urban Outfitters, Inc. has a 52-week low of $33.86 and a 52-week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a net margin of 7.91% and a return on equity of 17.98%. Urban Outfitters's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insiders Place Their Bets

In other Urban Outfitters news, CEO Tricia D. Smith sold 4,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.52, for a total value of $317,340.00. Following the completion of the sale, the chief executive officer owned 13,477 shares in the company, valued at approximately $950,398.04. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Margaret Hayne sold 80,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $72.59, for a total value of $5,807,200.00. Following the transaction, the insider directly owned 100 shares in the company, valued at $7,259. This trade represents a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,156 shares of company stock worth $11,636,158. Insiders own 31.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Urban Outfitters from $62.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on shares of Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Baird R W raised Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. Barclays lifted their price objective on Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Finally, UBS Group increased their target price on Urban Outfitters from $75.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $77.27.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.