Jupiter Asset Management Ltd. Raises Stock Holdings in Urban Outfitters, Inc. $URBN

Key Points

• Jupiter Asset Management increased its Urban Outfitters stake by 33.8% in the fourth quarter, buying 327,453 additional shares to bring its total to 1,297,452 shares worth about $97.6 million.
• Urban Outfitters has continued to attract institutional interest, with several large investors also boosting positions and 77.61% of the stock now held by institutions.
• The company posted strong quarterly results, beating earnings and revenue estimates, while analysts remain generally positive with an average rating of Moderate Buy and a consensus price target of $87.18.

Jupiter Asset Management Ltd. raised its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 33.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,297,452 shares of the apparel retailer's stock after acquiring an additional 327,453 shares during the period. Urban Outfitters makes up approximately 0.8% of Jupiter Asset Management Ltd.'s holdings, making the stock its 28th biggest position. Jupiter Asset Management Ltd. owned approximately 1.45% of Urban Outfitters worth $97,646,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Urban Outfitters by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,675,936 shares of the apparel retailer's stock valued at $262,578,000 after purchasing an additional 142,909 shares during the period. American Century Companies Inc. raised its stake in Urban Outfitters by 23.1% during the 3rd quarter. American Century Companies Inc. now owns 2,879,092 shares of the apparel retailer's stock valued at $205,654,000 after buying an additional 540,877 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Urban Outfitters by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,847,922 shares of the apparel retailer's stock valued at $131,997,000 after buying an additional 50,837 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Urban Outfitters by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer's stock valued at $113,434,000 after buying an additional 35,244 shares during the period. Finally, Capital World Investors purchased a new position in shares of Urban Outfitters in the 3rd quarter worth $60,795,000. 77.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Melanie Marein-Efron sold 5,036 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Azeez Hayne sold 8,733 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction 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.

Wall Street Analyst Weigh In

URBN has been the topic of a number of recent research reports. Bank of America increased their target price on Urban Outfitters from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Jefferies Financial Group reaffirmed a "hold" rating and set a $72.00 price target on shares of Urban Outfitters in a research report on Thursday, May 21st. Wall Street Zen downgraded shares of Urban Outfitters from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Barclays reduced their target price on shares of Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.18.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $74.85 on Friday. The stock has a fifty day simple moving average of $68.65 and a two-hundred day simple moving average of $70.41. The firm has a market capitalization of $6.41 billion, a PE ratio of 14.37, a PEG ratio of 1.43 and a beta of 1.23. Urban Outfitters, Inc. has a 52-week low of $59.53 and a 52-week high of $84.35.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Urban Outfitters, Inc. will post 5.97 EPS for the current fiscal year.

Urban Outfitters Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.