Urban Outfitters, Inc. $URBN Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in Urban Outfitters, owning approximately 681,194 shares valued at $35.7 million after selling 14,452 shares in the 1st quarter.
• Several institutional investors significantly increased their stakes, with Whipplewood Advisors boosting ownership by 2,893.8% and Federated Hermes increasing by 17,175.0% during the same period.
• Urban Outfitters recently reported higher-than-expected earnings of $1.58 per share for the quarter, exceeding analysts' expectations, with revenues of $1.50 billion.

Northern Trust Corp cut its position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 681,194 shares of the apparel retailer's stock after selling 14,452 shares during the quarter. Northern Trust Corp owned 0.74% of Urban Outfitters worth $35,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Urban Outfitters during the 1st quarter worth $43,769,000. Wedge Capital Management L L P NC acquired a new position in Urban Outfitters during the 1st quarter worth $40,544,000. Boston Partners acquired a new position in Urban Outfitters during the 1st quarter worth $18,380,000. Voloridge Investment Management LLC acquired a new position in Urban Outfitters during the 4th quarter worth $18,513,000. Finally, American Century Companies Inc. grew its stake in Urban Outfitters by 11.2% during the 1st quarter. American Century Companies Inc. now owns 2,322,526 shares of the apparel retailer's stock worth $121,700,000 after purchasing an additional 233,371 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Stock Up 0.8%

URBN traded up $0.53 on Tuesday, hitting $67.61. 2,880,657 shares of the company traded hands, compared to its average volume of 2,159,722. The company has a 50 day moving average of $74.15 and a 200-day moving average of $63.06. The stock has a market capitalization of $6.06 billion, a PE ratio of 13.21, a PEG ratio of 1.08 and a beta of 1.29. Urban Outfitters, Inc. has a 12-month low of $33.86 and a 12-month high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.44 by $0.14. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm's revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 EPS. On average, research analysts anticipate that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.52, for a total transaction of $317,340.00. Following the completion of the sale, the chief executive officer directly owned 13,477 shares of the company's stock, valued at $950,398.04. This represents a 25.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

URBN has been the subject of several analyst reports. Robert W. Baird raised Urban Outfitters from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $75.00 to $90.00 in a research note on Wednesday, June 11th. Morgan Stanley lifted their price target on Urban Outfitters from $82.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Citigroup reissued a "neutral" rating and issued a $76.00 target price (up from $75.00) on shares of Urban Outfitters in a report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Urban Outfitters from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Finally, Telsey Advisory Group boosted their target price on Urban Outfitters from $72.00 to $80.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Urban Outfitters has a consensus rating of "Hold" and a consensus target price of $81.91.

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.