Louisiana State Employees Retirement System Makes New Investment in Urban Outfitters, Inc. $URBN

Key Points

• Louisiana State Employees Retirement System opened a new position in Urban Outfitters during the first quarter, buying 23,900 shares valued at about $1.51 million.
• Urban Outfitters reported a strong quarterly update, with EPS of $1.30 beating estimates and revenue of $1.48 billion, up 11.4% year over year.
• Analysts remain mixed on the stock: the current consensus is “Moderate Buy” with an average price target of $87.18, while several insiders recently sold shares, including the CFO.

Louisiana State Employees Retirement System purchased a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,900 shares of the apparel retailer's stock, valued at approximately $1,514,000.

A number of other hedge funds also recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. bought a new position in Urban Outfitters in the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. increased its position in Urban Outfitters by 815.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock valued at $28,000 after acquiring an additional 326 shares during the period. Salomon & Ludwin LLC increased its position in Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 149 shares during the period. Richardson Financial Services Inc. raised its stake in Urban Outfitters by 90.3% during the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 205 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Urban Outfitters during the 4th quarter valued at $33,000. Institutional investors own 77.61% of the company's stock.

Insider Activity

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the firm's stock in a transaction dated 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 owned 17,023 shares in the company, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. 32.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on URBN. Wall Street Zen cut Urban Outfitters from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 26th. Bank of America upped their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 21st. Finally, Jefferies Financial Group reissued a "hold" rating and set a $72.00 target price on shares of Urban Outfitters in a research note on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.18.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $70.72 on Friday. Urban Outfitters, Inc. has a 1 year low of $59.53 and a 1 year high of $84.35. The business's fifty day moving average is $72.23 and its 200-day moving average is $70.89. The stock has a market cap of $6.06 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.31 and a beta of 1.22.

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. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business 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 firm posted $1.16 earnings per share. The company's revenue was up 11.4% on a year-over-year basis. Equities research analysts predict that Urban Outfitters, Inc. will post 6.08 earnings per share 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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