6,544 Shares in Urban Outfitters, Inc. (NASDAQ:URBN) Acquired by Vestcor Inc

Key Points

• Vestcor Inc. acquired a new stake in Urban Outfitters, purchasing 6,544 shares valued at approximately $343,000 during the first quarter.
• Urban Outfitters reported an earnings per share (EPS) of $1.16 for the latest quarter, exceeding analysts' expectations of $0.81, while revenue grew 10.7% year-over-year.
• Insider transactions included significant sales, with Azeez Hayne selling 12,856 shares and Director Harry S. Cherken, Jr. selling 35,000 shares, reflecting a 6.79% decrease in Cherken's position.

Vestcor Inc bought a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,544 shares of the apparel retailer's stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Junto Capital Management LP raised its stake in Urban Outfitters by 0.9% in the fourth quarter. Junto Capital Management LP now owns 1,483,646 shares of the apparel retailer's stock valued at $81,422,000 after buying an additional 13,820 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Urban Outfitters by 183,272.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,094,731 shares of the apparel retailer's stock valued at $60,079,000 after acquiring an additional 1,094,134 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Urban Outfitters during the 1st quarter worth about $40,544,000. Systematic Financial Management LP raised its position in shares of Urban Outfitters by 4.8% in the 4th quarter. Systematic Financial Management LP now owns 756,409 shares of the apparel retailer's stock worth $41,512,000 after acquiring an additional 34,677 shares in the last quarter. Finally, Northern Trust Corp increased its position in Urban Outfitters by 8.5% in the 4th quarter. Northern Trust Corp now owns 695,646 shares of the apparel retailer's stock valued at $38,177,000 after buying an additional 54,337 shares in the last quarter. Institutional investors own 77.61% of the company's stock.

Analyst Upgrades and Downgrades

URBN has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. Glj Research reiterated a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Barclays raised their price objective on Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Morgan Stanley lifted their target price on shares of Urban Outfitters from $62.00 to $77.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Urban Outfitters currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 20,000 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $73.36, for a total value of $1,467,200.00. Following the completion of the sale, the chief financial officer directly owned 5,036 shares in the company, valued at $369,440.96. The trade was a 79.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Margaret Hayne sold 80,000 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the completion of the sale, the insider owned 100 shares of the company's stock, valued at $7,259. The trade was a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,156 shares of company stock valued at $11,636,158 in the last 90 days. Corporate insiders own 31.60% of the company's stock.

Urban Outfitters Trading Down 3.3%

Shares of URBN traded down $2.59 during mid-day trading on Thursday, reaching $77.20. The company had a trading volume of 1,262,490 shares, compared to its average volume of 2,137,720. Urban Outfitters, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $80.71. The firm has a fifty day simple moving average of $72.16 and a 200-day simple moving average of $60.63. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.44.

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

About Urban Outfitters

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.