Urban Outfitters, Inc. $URBN Stock Position Lifted by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Urban Outfitters stake by 2.4% in the fourth quarter, bringing its holdings to 1,507,027 shares worth about $113.4 million.
• Urban Outfitters reported strong quarterly results, with EPS of $1.30 topping estimates and revenue of $1.48 billion exceeding expectations; revenue rose 11.4% year over year.
• Despite the earnings beat, the stock was down 2.2% to $71.30, while analysts remain mixed overall with a Moderate Buy consensus and an average target price of $87.18.

Geode Capital Management LLC boosted its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,507,027 shares of the apparel retailer's stock after purchasing an additional 35,244 shares during the period. Geode Capital Management LLC owned about 1.68% of Urban Outfitters worth $113,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its position in Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 149 shares in the last quarter. Spire Wealth Management lifted its stake in Urban Outfitters by 83.3% in the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Urban Outfitters by 90.3% in the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 205 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Urban Outfitters by 125.1% in the second quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 274 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in Urban Outfitters in the fourth quarter valued at approximately $39,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Trading Down 2.2%

Shares of URBN stock opened at $71.30 on Friday. Urban Outfitters, Inc. has a 1 year low of $59.53 and a 1 year high of $84.35. The firm's fifty day simple moving average is $69.77 and its 200 day simple moving average is $70.77. The firm has a market capitalization of $6.10 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.18. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Equities research analysts anticipate that Urban Outfitters, Inc. will post 5.97 EPS for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer directly owned 17,023 shares in the company, valued at $1,249,828.66. This trade represents a 22.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 32.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $72.00 target price on shares of Urban Outfitters in a research note on Thursday, May 21st. Telsey Advisory Group restated an "outperform" rating and issued a $98.00 price objective on shares of Urban Outfitters in a research note on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of Urban Outfitters from $80.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. Bank of America boosted their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.18.

Urban Outfitters Company 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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