Bank of New York Mellon Corp Has $24.70 Million Stock Position in Urban Outfitters, Inc. $URBN

Bank of New York Mellon Corp reduced its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 8.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 389,823 shares of the apparel retailer’s stock after selling 35,898 shares during the quarter. Bank of New York Mellon Corp’s holdings in Urban Outfitters were worth $24,695,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in URBN. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters during the 4th quarter worth $127,114,000. Balyasny Asset Management L.P. raised its stake in shares of Urban Outfitters by 5,360.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after acquiring an additional 606,831 shares in the last quarter. Norges Bank acquired a new stake in Urban Outfitters in the 4th quarter worth approximately $44,191,000. UBS Group AG grew its holdings in Urban Outfitters by 339.3% during the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock valued at $48,276,000 after purchasing an additional 495,441 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in shares of Urban Outfitters by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock worth $97,646,000 after buying an additional 327,453 shares during the last quarter. Institutional investors own 77.61% of the company’s stock.

Insider Transactions at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction that occurred 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 owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 SEC filing for this sale provides additional information. Company insiders own 32.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Bank of America lifted their price target on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. The Goldman Sachs Group upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $93.00 in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Urban Outfitters currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.91.

Urban Outfitters Trading Up 3.8%

URBN stock 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 business’s 50 day moving average is $72.50 and its 200-day moving average is $70.01. The firm has a market cap of $6.22 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.29 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. Urban Outfitters’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Urban Outfitters, Inc. will post 6.13 EPS for the current year.

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.