Charles Schwab Investment Management Inc. Reduces Position in Urban Outfitters, Inc. (NASDAQ:URBN)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Urban Outfitters by 2.5%, owning approximately 1.24% of the company with a value of $60 million after selling 28,801 shares.
• Multiple institutional investors modified their holdings in Urban Outfitters, with Federated Hermes Inc. increasing its position by 17,175% and Whipplewood Advisors LLC boosting its position by 2,893.8% in the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Urban Outfitters, with an average price target of $75, reflecting a generally positive outlook despite mixed individual ratings from different brokerages.

Charles Schwab Investment Management Inc. cut its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,146,165 shares of the apparel retailer's stock after selling 28,801 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.24% of Urban Outfitters worth $60,059,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of URBN. Whipplewood Advisors LLC boosted its position in shares of 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. Federated Hermes Inc. boosted its position in shares of Urban Outfitters by 17,175.0% during the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after buying an additional 687 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Urban Outfitters during the first quarter valued at $52,000. GAMMA Investing LLC boosted its position in shares of Urban Outfitters by 34.7% during 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 last quarter. Finally, US Bancorp DE boosted its position in Urban Outfitters by 16.4% in the first quarter. US Bancorp DE now owns 1,855 shares of the apparel retailer's stock worth $97,000 after purchasing an additional 262 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on URBN. Morgan Stanley raised their target price on Urban Outfitters from $62.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. UBS Group raised their target price on Urban Outfitters from $54.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Glj Research reissued a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Jefferies Financial Group raised Urban Outfitters from an "underperform" rating to a "hold" rating and raised their target price for the stock from $50.00 to $70.00 in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Urban Outfitters has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Insider Activity at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 35,000 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the sale, the director owned 480,296 shares of the company's stock, valued at approximately $35,613,948.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 12,856 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total value of $938,488.00. The disclosure for this sale can be found here. Insiders have sold 159,156 shares of company stock worth $11,636,158 in the last three months. Corporate insiders own 31.60% of the company's stock.

Urban Outfitters Stock Up 0.3%

URBN stock opened at $77.53 on Friday. Urban Outfitters, Inc. has a twelve month low of $33.86 and a twelve month high of $80.71. The stock has a market cap of $6.95 billion, a P/E ratio of 16.22, a PEG ratio of 1.34 and a beta of 1.44. The business's 50-day moving average price is $73.09 and its 200-day moving average price is $61.61.

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

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.

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