Urban Outfitters, Inc. $URBN Stock Holdings Cut by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its Urban Outfitters stake by 89.8% in the third quarter, leaving it with 1,442 shares worth approximately $110,000. Institutional investors and hedge funds collectively own 77.61% of URBN.
• Analyst sentiment remains positive, with nine Buy ratings and eight Hold ratings. Urban Outfitters has a consensus rating of “Moderate Buy” and an average price target of $90.54.
• Urban Outfitters reported quarterly revenue of $1.66 billion, up 10.4% year over year, while earnings of $1.72 per share matched estimates. The stock opened at $90.72, near its 12-month high of $93.64.

Sterling Capital Management LLC trimmed its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 89.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,442 shares of the apparel retailer's stock after selling 12,756 shares during the period. Sterling Capital Management LLC's holdings in Urban Outfitters were worth $110,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in URBN. BlackRock Inc. bought a new position in shares of Urban Outfitters in the second quarter worth about $615,160,000. Bank of America Corp DE acquired a new position in shares of Urban Outfitters during the 2nd quarter worth about $33,414,000. Bank of New York Mellon Corp bought a new stake in Urban Outfitters during the 2nd quarter valued at approximately $26,280,000. Dimensional Fund Advisors LP boosted its stake in Urban Outfitters by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer's stock valued at $273,274,000 after purchasing an additional 338,622 shares during the period. Finally, J. Goldman & Co LP acquired a new stake in Urban Outfitters in the 2nd quarter valued at approximately $21,836,000. 77.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on URBN. BMO Capital Markets initiated coverage on Urban Outfitters in a research report on Tuesday, September 8th. They issued a "market perform" rating and a $80.00 price target on the stock. Needham & Company LLC began coverage on Urban Outfitters in a research report on Friday, October 16th. They issued a "buy" rating and a $100.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Urban Outfitters from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. boosted their target price on shares of Urban Outfitters from $97.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Urban Outfitters from a "buy" rating to a "hold" rating in a research note on Monday, August 31st. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Urban Outfitters currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.54.

Insider Activity

In related news, CEO Tricia Smith sold 3,500 shares of the company's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $75.95, for a total value of $265,825.00. Following the completion of the transaction, the chief executive officer directly owned 30,112 shares in the company, valued at approximately $2,287,006.40. This represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of the firm's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $87.06, for a total value of $435,300.00. Following the completion of the transaction, the director directly owned 494,315 shares of the company's stock, valued at approximately $43,035,063.90. This trade represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 14,200 shares of company stock worth $1,161,400. Company insiders own 32.10% of the company's stock.

Urban Outfitters Price Performance

Shares of URBN opened at $90.72 on Monday. Urban Outfitters, Inc. has a 12-month low of $59.53 and a 12-month high of $93.64. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.42 and a beta of 1.22. The stock's 50-day moving average price is $80.86 and its 200 day moving average price is $73.12.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The apparel retailer reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Equities research analysts expect that Urban Outfitters, Inc. will post 6.20 EPS for the current year.

Urban Outfitters Profile

Urban Outfitters, Inc is a lifestyle retail company that operates a portfolio of consumer brands focused on apparel, accessories, home furnishings, beauty products and related merchandise. Its principal brands include Urban Outfitters, Anthropologie, Free People, Terrain and Nuuly. The company serves customers through retail stores, brand websites, mobile applications and other digital channels.

Urban Outfitters offers fashion-oriented products for women and men, while Anthropologie emphasizes women's apparel, accessories, home goods and lifestyle merchandise.

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