Bank of New York Mellon Corp Sells 258,134 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Bank of New York Mellon Corp lowered its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 36.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 448,027 shares of the apparel retailer's stock after selling 258,134 shares during the period. Bank of New York Mellon Corp owned 0.48% of Urban Outfitters worth $23,477,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Whipplewood Advisors LLC increased its holdings in Urban Outfitters by 2,893.8% during the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after buying an additional 463 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock worth $29,000 after buying an additional 200 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Urban Outfitters in the 1st quarter valued at about $52,000. GAMMA Investing LLC raised its holdings in Urban Outfitters by 34.7% in the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after buying an additional 263 shares during the period. Finally, Covestor Ltd lifted its stake in Urban Outfitters by 159.5% in the fourth quarter. Covestor Ltd now owns 2,753 shares of the apparel retailer's stock valued at $151,000 after buying an additional 1,692 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Trading Up 3.4%

Shares of Urban Outfitters stock traded up $2.48 on Monday, hitting $74.62. 2,121,285 shares of the company traded hands, compared to its average volume of 2,007,066. The firm's 50-day simple moving average is $69.29 and its 200 day simple moving average is $58.84. Urban Outfitters, Inc. has a 12-month low of $33.86 and a 12-month high of $75.94. The company has a market cap of $6.69 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.21 and a beta of 1.44.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate 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 was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Analysts predict that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 20,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the transaction, the chief financial officer owned 5,036 shares in the company, valued at approximately $369,440.96. This trade represents a 79.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Margaret Hayne sold 80,000 shares of Urban Outfitters stock in a transaction 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 completion of the transaction, the insider directly owned 100 shares of the company's stock, valued at $7,259. This represents a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,156 shares of company stock valued at $11,636,158 in the last three months. 31.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on URBN. Telsey Advisory Group restated a "market perform" rating and issued a $72.00 target price on shares of Urban Outfitters in a report on Wednesday, June 11th. Bank of America upped their price objective on shares of Urban Outfitters from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley boosted their target price on shares of Urban Outfitters from $62.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Citigroup lowered their target price on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Urban Outfitters presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.09.

About Urban Outfitters

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.