Urban Outfitters, Inc. $URBN Shares Purchased by Royal Bank of Canada

Royal Bank of Canada increased its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 169.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 31,837 shares of the apparel retailer’s stock after purchasing an additional 20,002 shares during the quarter. Royal Bank of Canada’s holdings in Urban Outfitters were worth $2,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of Urban Outfitters during the 4th quarter worth about $27,000. Brown Brothers Harriman & Co. raised its stake in Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 326 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 149 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Urban Outfitters during the 4th quarter valued at $33,000. Finally, Transamerica Financial Advisors LLC grew its stake in shares of Urban Outfitters by 566.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen cut Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday. Bank of America raised their price objective on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group lifted their price objective on Urban Outfitters from $72.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Barclays decreased their target price on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $89.00 price target on shares of Urban Outfitters in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.55.

Urban Outfitters Trading Down 1.5%

Shares of NASDAQ URBN opened at $76.64 on Tuesday. The stock has a fifty day moving average price of $73.82 and a 200 day moving average price of $70.52. Urban Outfitters, Inc. has a 12-month low of $59.53 and a 12-month high of $84.35. The company has a market cap of $6.56 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.44 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Insider Activity

In related news, insider Azeez Hayne sold 8,733 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 32.10% of the company’s stock.

Urban Outfitters 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.