Mackenzie Financial Corp Invests $216,000 in Urban Outfitters, Inc. (NASDAQ:URBN)

Mackenzie Financial Corp bought a new position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,943 shares of the apparel retailer's stock, valued at approximately $216,000.

A number of other hedge funds have also modified their holdings of URBN. Allspring Global Investments Holdings LLC raised its holdings in Urban Outfitters by 1,016.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer's stock worth $7,223,000 after acquiring an additional 119,820 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Urban Outfitters by 1,778.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer's stock worth $1,898,000 after buying an additional 32,747 shares during the period. Bank of New York Mellon Corp grew its position in shares of Urban Outfitters by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 706,161 shares of the apparel retailer's stock valued at $38,754,000 after purchasing an additional 51,657 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Urban Outfitters by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,966 shares of the apparel retailer's stock worth $64,482,000 after buying an additional 60,697 shares during the period. Finally, Amundi raised its stake in Urban Outfitters by 850.3% in the 4th quarter. Amundi now owns 34,191 shares of the apparel retailer's stock worth $1,952,000 after purchasing an additional 30,593 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, insider Margaret Hayne sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the completion of the transaction, the insider now owns 100 shares in the company, valued at approximately $7,259. This trade represents a 99.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tricia D. Smith sold 10,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the sale, the chief executive officer now directly owns 12,601 shares in the company, valued at approximately $679,697.94. This represents a 44.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,332 shares of company stock worth $12,497,479. Insiders own 31.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird raised their price target on Urban Outfitters from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Morgan Stanley boosted their price target on Urban Outfitters from $62.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. upgraded Urban Outfitters from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $63.00 to $78.00 in a research report on Thursday, May 22nd. Glj Research reiterated a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Urban Outfitters currently has a consensus rating of "Hold" and a consensus target price of $69.36.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $69.71 on Friday. Urban Outfitters, Inc. has a one year low of $33.86 and a one year high of $75.80. The company has a market cap of $6.46 billion, a PE ratio of 19.97, a P/E/G ratio of 1.02 and a beta of 1.45. The firm's 50 day simple moving average is $56.58 and its 200 day simple moving average is $54.37.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities research analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Urban Outfitters Profile

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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