Bank of America Corp DE Has $16.25 Million Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Bank of America Corp DE cut its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 58.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 296,090 shares of the apparel retailer's stock after selling 423,844 shares during the period. Bank of America Corp DE owned 0.32% of Urban Outfitters worth $16,249,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in URBN. Jones Financial Companies Lllp lifted its holdings in Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Urban Outfitters by 10.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,664 shares of the apparel retailer's stock valued at $146,000 after acquiring an additional 250 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Urban Outfitters by 1.7% during the 4th quarter. Natixis Advisors LLC now owns 15,434 shares of the apparel retailer's stock worth $847,000 after buying an additional 252 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Urban Outfitters by 5.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,628 shares of the apparel retailer's stock valued at $364,000 after purchasing an additional 351 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Urban Outfitters by 2.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,060 shares of the apparel retailer's stock valued at $1,046,000 after buying an additional 365 shares in the last quarter. 77.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

URBN has been the topic of several research reports. StockNews.com upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a report on Tuesday. Wells Fargo & Company dropped their price objective on Urban Outfitters from $65.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Barclays increased their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday. Robert W. Baird boosted their price objective on Urban Outfitters from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on shares of Urban Outfitters from $63.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of "Hold" and an average target price of $55.27.

Urban Outfitters Stock Performance

Shares of NASDAQ:URBN opened at $61.34 on Wednesday. The company has a market capitalization of $5.68 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33. Urban Outfitters, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $63.21. The company's 50-day moving average is $51.66 and its 200 day moving average is $51.70.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.15. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, research analysts predict that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 11,676 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total value of $639,261.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wesley S. Mcdonald sold 8,300 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $58.44, for a total transaction of $485,052.00. Following the completion of the transaction, the director now owns 15,450 shares of the company's stock, valued at $902,898. This trade represents a 34.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,976 shares of company stock valued at $1,663,713 in the last 90 days. 31.60% of the stock is currently owned by company insiders.

Urban Outfitters 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.

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