Wellington Management Group LLP Sells 22,780 Shares of Urban Outfitters, Inc. $URBN

Key Points

• Wellington Management reduced its Urban Outfitters stake by 6.1%, selling 22,780 shares and retaining 352,441 shares valued at approximately $25.0 million. Institutional investors collectively own 77.61% of the company.
• Urban Outfitters reported quarterly revenue of $1.66 billion, up 10.4% year over year, while earnings of $1.72 per share matched analyst expectations.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $90.64, compared with the stock’s stated opening price of $80.97.

Wellington Management Group LLP cut its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 352,441 shares of the apparel retailer's stock after selling 22,780 shares during the period. Wellington Management Group LLP owned 0.41% of Urban Outfitters worth $24,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new position in shares of Urban Outfitters during the fourth quarter worth approximately $27,000. Brown Brothers Harriman & Co. grew its holdings in Urban Outfitters by 815.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock valued at $28,000 after buying an additional 326 shares in the last quarter. Allworth Financial LP acquired a new position in Urban Outfitters in the 2nd quarter valued at $31,000. Transamerica Financial Advisors LLC increased its position in Urban Outfitters by 566.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer's stock worth $33,000 after buying an additional 374 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Urban Outfitters during the fourth quarter worth $33,000. Institutional investors and hedge funds own 77.61% of the company's stock.

Urban Outfitters Stock Performance

Shares of URBN opened at $80.97 on Friday. Urban Outfitters, Inc. has a 52 week low of $59.53 and a 52 week high of $85.43. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.27 and a beta of 1.26. The stock has a fifty day moving average of $74.83 and a 200-day moving average of $71.19.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The apparel retailer reported $1.72 earnings per share for the quarter, hitting analysts' consensus estimates of $1.72. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $1.58 EPS. Urban Outfitters's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Urban Outfitters, Inc. will post 6.16 EPS for the current year.

Analyst Ratings Changes

URBN has been the topic of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Urban Outfitters from $72.00 to $79.00 and gave the stock a "hold" rating in a research report on Wednesday, August 12th. Zacks Research cut Urban Outfitters from a "strong-buy" rating to a "hold" rating in a report on Friday, August 14th. Weiss Ratings upgraded Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 24th. UBS Group raised their price objective on Urban Outfitters from $80.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, August 27th. Finally, The Goldman Sachs Group upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their target price for the company from $76.00 to $93.00 in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.64.

About Urban Outfitters

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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