Urban Outfitters, Inc. $URBN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 8.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 389,823 shares of the apparel retailer’s stock after selling 35,898 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.46% of Urban Outfitters worth $24,695,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Urban Outfitters in the fourth quarter valued at 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 worth $28,000 after buying an additional 326 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after buying an additional 149 shares in the last quarter. Richardson Financial Services Inc. increased its position in Urban Outfitters by 90.3% in the 4th 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 period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Urban Outfitters in the 4th quarter valued at approximately $33,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Up 3.8%

NASDAQ:URBN opened at $72.61 on Tuesday. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The stock has a fifty day simple moving average of $72.50 and a 200 day simple moving average of $70.01.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on URBN. Jefferies Financial Group reiterated a “hold” rating and set a $72.00 price target on shares of Urban Outfitters in a research report on Thursday, May 21st. Zacks Research raised Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Bank of America lifted their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.91.

Insider Buying and Selling

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the sale, the chief financial officer owned 17,023 shares of the company’s stock, valued at $1,249,828.66. The trade was a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.