Bank of New York Mellon Corp Decreases Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Bank of New York Mellon Corp lessened its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 36.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,027 shares of the apparel retailer's stock after selling 258,134 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Urban Outfitters worth $23,477,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its holdings in shares of Urban Outfitters by 2,893.8% in the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after purchasing an additional 463 shares during the period. Jones Financial Companies Lllp raised its position in shares of Urban Outfitters by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Urban Outfitters in the 1st quarter worth $52,000. GAMMA Investing LLC raised its position in shares of Urban Outfitters by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock worth $54,000 after acquiring an additional 263 shares in the last quarter. Finally, Covestor Ltd grew its stake in Urban Outfitters by 159.5% during the 4th quarter. Covestor Ltd now owns 2,753 shares of the apparel retailer's stock worth $151,000 after buying an additional 1,692 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America boosted their price target on Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upgraded Urban Outfitters from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $63.00 to $78.00 in a research note on Thursday, May 22nd. Glj Research reaffirmed a "sell" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. Wall Street Zen upgraded Urban Outfitters from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Finally, Barclays raised their target price on Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.09.

Insider Buying and Selling at Urban Outfitters

In other news, insider Azeez Hayne sold 12,856 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $73.00, for a total transaction of $938,488.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Margaret Hayne sold 80,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total value of $5,807,200.00. Following the transaction, the insider owned 100 shares of the company's stock, valued at approximately $7,259. This represents a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,156 shares of company stock valued at $11,636,158. Corporate insiders own 31.60% of the company's stock.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN traded up $1.21 during midday trading on Friday, hitting $72.14. The company had a trading volume of 1,295,438 shares, compared to its average volume of 1,998,324. The business's 50-day simple moving average is $68.88 and its 200-day simple moving average is $58.68. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.44. Urban Outfitters, Inc. has a twelve month low of $33.86 and a twelve month high of $75.80.

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 (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.35. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.29 billion. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, sell-side analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

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.