Chase Investment Counsel Corp Takes Position in Urban Outfitters, Inc. $URBN

Key Points

• Chase Investment Counsel initiated a position in Urban Outfitters during the second quarter, purchasing 67,313 shares worth approximately $4.77 million. Institutional investors and hedge funds collectively own 77.61% of the company.
• Urban Outfitters reported quarterly earnings of $1.30 per share, beating estimates by $0.18, while revenue rose 11.4% year over year to $1.48 billion.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $88.55; several firms recently raised their targets to between $90 and $97.

Chase Investment Counsel Corp purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,313 shares of the apparel retailer's stock, valued at approximately $4,769,000. Chase Investment Counsel Corp owned about 0.08% of Urban Outfitters at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. increased its holdings in Urban Outfitters by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer's stock valued at $97,646,000 after purchasing an additional 327,453 shares during the period. HighTower Advisors LLC lifted its holdings in Urban Outfitters by 883.4% during the 4th quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer's stock worth $3,242,000 after buying an additional 38,700 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of Urban Outfitters in the 4th quarter valued at about $7,539,000. UBS Group AG grew its position in shares of Urban Outfitters by 339.3% in the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer's stock valued at $48,276,000 after buying an additional 495,441 shares during the last quarter. Finally, Virtus Wealth Solutions LLC acquired a new stake in shares of Urban Outfitters in the fourth quarter valued at about $1,310,000. Institutional investors and hedge funds own 77.61% of the company's stock.

Insider Buying and Selling

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the sale, the chief financial officer owned 17,023 shares of the company's stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is currently owned by corporate insiders.

Urban Outfitters Stock Performance

URBN opened at $77.81 on Monday. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The company has a market cap of $6.66 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a fifty day moving average price of $73.72 and a two-hundred day moving average price of $70.47.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.18. The firm 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%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. On average, research analysts forecast that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on URBN. The Goldman Sachs Group upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. Bank of America increased their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Zacks Research upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered Urban Outfitters from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Urban Outfitters currently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

Urban Outfitters Profile

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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