Public Sector Pension Investment Board Grows Stock Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Key Points

• The Public Sector Pension Investment Board increased its stake in Urban Outfitters by 27.4%, acquiring an additional 38,337 shares, bringing its total holdings to 178,507 shares valued at approximately $9.35 million.
• Urban Outfitters reported earnings of $1.16 per share for the last quarter, surpassing the consensus estimate of $0.81, with revenue up 10.7% year-over-year.
• Several research firms have raised their price targets for Urban Outfitters stock, with Morgan Stanley adjusting it from $62 to $77 and Bank of America from $70 to $80, indicating increasing analyst confidence in the stock.

Public Sector Pension Investment Board lifted its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 178,507 shares of the apparel retailer's stock after acquiring an additional 38,337 shares during the quarter. Public Sector Pension Investment Board owned 0.19% of Urban Outfitters worth $9,354,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in URBN. GSA Capital Partners LLP grew its position in shares of Urban Outfitters by 2.0% in the 1st quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer's stock valued at $545,000 after buying an additional 203 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Urban Outfitters by 4.9% in the first quarter. Xponance Inc. now owns 4,782 shares of the apparel retailer's stock valued at $251,000 after acquiring an additional 222 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Urban Outfitters by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 19,288 shares of the apparel retailer's stock valued at $1,011,000 after acquiring an additional 228 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Urban Outfitters by 16.4% in the first quarter. US Bancorp DE now owns 1,855 shares of the apparel retailer's stock valued at $97,000 after acquiring an additional 262 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Urban Outfitters by 34.7% in the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after purchasing an additional 263 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 4,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total value of $317,340.00. Following the completion of the sale, the chief executive officer directly owned 13,477 shares in the company, valued at approximately $950,398.04. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 12,856 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total transaction of $938,488.00. The disclosure for this sale can be found here. Insiders sold 159,156 shares of company stock valued at $11,636,158 in the last quarter. Insiders own 31.60% of the company's stock.

Analysts Set New Price Targets

URBN has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Urban Outfitters from $62.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. UBS Group raised their price objective on shares of Urban Outfitters from $54.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Wells Fargo & Company restated an "equal weight" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Finally, Barclays lifted their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Urban Outfitters Stock Up 0.3%

Shares of NASDAQ:URBN traded up $0.24 during trading on Friday, reaching $77.53. The stock had a trading volume of 1,640,806 shares, compared to its average volume of 1,650,537. The business has a fifty day moving average price of $73.09 and a 200-day moving average price of $61.61. The stock has a market cap of $6.95 billion, a P/E ratio of 16.22, a PEG ratio of 1.34 and a beta of 1.44. Urban Outfitters, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.35. Urban Outfitters had a net margin of 7.91% and a return on equity of 17.98%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. Urban Outfitters's revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Urban Outfitters Company 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.