Raymond James Financial Inc. Increases Stake in Urban Outfitters, Inc. $URBN

Key Points

• Raymond James Financial Inc. increased its holdings in Urban Outfitters by 879.2% in the first quarter, now owning 91,461 shares worth approximately $4.8 million.
• Urban Outfitters reported $1.58 earnings per share for the last quarter, surpassing the consensus estimate by $0.14, and saw a revenue increase of 11.3% year-over-year.
• Institutional investors own 77.61% of Urban Outfitters stock, indicating significant institutional interest in the company.

Raymond James Financial Inc. grew its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 879.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,461 shares of the apparel retailer's stock after acquiring an additional 82,121 shares during the period. Raymond James Financial Inc. owned about 0.10% of Urban Outfitters worth $4,793,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC raised its position in Urban Outfitters by 313.4% during the 1st quarter. SG Americas Securities LLC now owns 23,342 shares of the apparel retailer's stock valued at $1,223,000 after purchasing an additional 17,696 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Urban Outfitters during the first quarter valued at $52,000. Public Employees Retirement System of Ohio raised its holdings in shares of Urban Outfitters by 1,778.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer's stock valued at $1,898,000 after acquiring an additional 32,747 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Urban Outfitters during the 1st quarter worth about $1,094,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Urban Outfitters by 17.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,114 shares of the apparel retailer's stock worth $7,086,000 after acquiring an additional 19,551 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on URBN shares. Wells Fargo & Company boosted their price target on shares of Urban Outfitters from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Jefferies Financial Group raised Urban Outfitters from an "underperform" rating to a "hold" rating and increased their target price for the company from $50.00 to $70.00 in a research report on Friday, June 6th. UBS Group boosted their price target on Urban Outfitters from $78.00 to $79.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Bank of America upped their price objective on Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Finally, Citigroup restated a "neutral" rating and set a $76.00 price objective (up from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $81.91.

Urban Outfitters Price Performance

Shares of URBN stock traded down $0.58 during mid-day trading on Friday, hitting $70.77. 2,111,829 shares of the stock traded hands, compared to its average volume of 2,222,433. The stock has a market cap of $6.34 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.14 and a beta of 1.29. The stock's fifty day moving average is $74.13 and its two-hundred day moving average is $63.37. Urban Outfitters, Inc. has a 52-week low of $33.86 and a 52-week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. As a group, equities analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Insider Activity at Urban Outfitters

In related news, CEO Tricia D. Smith sold 4,500 shares of the 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 transaction, the chief executive officer directly owned 13,477 shares of the company's stock, valued at $950,398.04. This trade represents a 25.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.60% of the stock is owned by insiders.

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.