California State Teachers Retirement System Purchases 13,359 Shares of Urban Outfitters, Inc. $URBN

Key Points

• California State Teachers Retirement System increased its Urban Outfitters stake by 24.1%, purchasing 13,359 additional shares to own 68,812 shares valued at approximately $4.36 million. Institutional investors collectively hold 77.61% of the company.
• Analyst sentiment is broadly positive: Goldman Sachs upgraded the stock to “buy” with a $93 price target, while other firms raised targets as high as $97. Urban Outfitters has a consensus “Moderate Buy” rating and an average price target of $87.91.
• Urban Outfitters exceeded quarterly expectations, reporting $1.30 in EPS versus the $1.12 estimate and $1.48 billion in revenue, up 11.4% year over year. The stock opened at $76.92, versus a 52-week range of $59.53 to $84.35.

California State Teachers Retirement System lifted its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,812 shares of the apparel retailer's stock after buying an additional 13,359 shares during the period. California State Teachers Retirement System owned about 0.08% of Urban Outfitters worth $4,359,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of URBN. Eurizon Capital SGR S.p.A. bought a new position in shares of Urban Outfitters during the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. lifted its position in shares of Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock worth $28,000 after purchasing an additional 326 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Urban Outfitters by 58.4% in the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock worth $31,000 after purchasing an additional 149 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Urban Outfitters by 90.3% during the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock worth $33,000 after purchasing an additional 205 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in Urban Outfitters by 566.7% during the fourth quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer's stock worth $33,000 after purchasing an additional 374 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Urban Outfitters

In related news, insider Azeez Hayne sold 8,733 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer owned 17,023 shares in the company, valued at $1,249,828.66. The trade was a 22.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 32.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on URBN. The Goldman Sachs Group upgraded shares of Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their price target for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Bank of America increased their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on Urban Outfitters from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Wall Street Zen raised Urban Outfitters from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Zacks Research upgraded Urban Outfitters from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.91.

Urban Outfitters Trading Down 1.0%

NASDAQ:URBN opened at $76.92 on Friday. The stock has a 50 day simple moving average of $73.12 and a 200 day simple moving average of $70.17. The stock has a market cap of $6.59 billion, a P/E ratio of 14.76, a PEG ratio of 1.44 and a beta of 1.23. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. Urban Outfitters's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. As a group, sell-side analysts forecast that Urban Outfitters, Inc. will post 6.13 EPS for the current year.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city's historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.

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