The Manufacturers Life Insurance Company Makes New Investment in Urban Outfitters, Inc. $URBN

Key Points

• The Manufacturers Life Insurance Company initiated a position in Urban Outfitters, purchasing 31,638 shares valued at approximately $2.24 million in the second quarter. Institutional investors and hedge funds collectively own 77.61% of the stock.
• Analyst sentiment is broadly positive, with eight Buy ratings and six Hold ratings. Urban Outfitters has a consensus rating of “Moderate Buy” and an average price target of $90.64.
• Urban Outfitters reported quarterly EPS of $1.72, matching estimates, while revenue rose 10.4% year over year to $1.66 billion. Shares opened at $78.75, within a 52-week range of $59.53 to $85.43.

The Manufacturers Life Insurance Company bought a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 31,638 shares of the apparel retailer's stock, valued at approximately $2,242,000.

A number of other hedge funds also recently made changes to their positions in URBN. BlackRock Inc. bought a new stake in shares of Urban Outfitters during the 2nd quarter valued at approximately $615,160,000. Abrams Bison Investments LLC bought a new position in Urban Outfitters in the 4th quarter valued at approximately $127,114,000. Balyasny Asset Management L.P. boosted its position in Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer's stock valued at $44,155,000 after buying an additional 606,831 shares in the last quarter. Norges Bank bought a new stake in shares of Urban Outfitters during the fourth quarter worth $44,191,000. Finally, UBS Group AG grew its stake in shares of Urban Outfitters by 339.3% during the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer's stock worth $48,276,000 after buying an additional 495,441 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on URBN shares. Citigroup reissued a "neutral" rating on shares of Urban Outfitters in a report on Friday, August 28th. Jefferies Financial Group increased their target price on Urban Outfitters from $72.00 to $79.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th. Wells Fargo & Company lifted their price target on Urban Outfitters from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Morgan Stanley restated an "overweight" rating and set a $90.00 price target on shares of Urban Outfitters in a report on Thursday, August 27th. Finally, Weiss Ratings raised Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 24th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Urban Outfitters has a consensus rating of "Moderate Buy" and a consensus target price of $90.64.

Urban Outfitters Stock Down 0.7%

Shares of Urban Outfitters stock opened at $78.75 on Thursday. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.25 and a beta of 1.26. Urban Outfitters, Inc. has a twelve month low of $59.53 and a twelve month high of $85.43. The company's fifty day moving average is $74.49 and its 200 day moving average is $71.05.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Wednesday, August 26th. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.72. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.Urban Outfitters's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. As a group, equities analysts anticipate that Urban Outfitters, Inc. will post 6.15 earnings per share for the current fiscal year.

Urban Outfitters 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.

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