JPMorgan Chase & Co. Grows Position in Urban Outfitters, Inc. $URBN

JPMorgan Chase & Co. grew its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 53.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 581,214 shares of the apparel retailer’s stock after purchasing an additional 202,106 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.65% of Urban Outfitters worth $42,161,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in URBN. Cullen Frost Bankers Inc. grew its position in Urban Outfitters by 180.2% during the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 301 shares during the period. Federated Hermes Inc. raised its position in shares of Urban Outfitters by 17,175.0% in the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 687 shares during the period. Virtus Advisers LLC purchased a new stake in shares of Urban Outfitters during the 1st quarter worth about $46,000. Parkside Financial Bank & Trust grew its position in shares of Urban Outfitters by 32.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 964 shares of the apparel retailer’s stock valued at $70,000 after acquiring an additional 237 shares during the period. Finally, Quarry LP increased its stake in shares of Urban Outfitters by 146.2% in the 1st quarter. Quarry LP now owns 1,418 shares of the apparel retailer’s stock valued at $74,000 after purchasing an additional 842 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

URBN has been the topic of a number of recent analyst reports. UBS Group increased their price target on Urban Outfitters from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Wall Street Zen lowered Urban Outfitters from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 27th. Zacks Research lowered shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Wells Fargo & Company increased their price objective on shares of Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Urban Outfitters in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.36.

Urban Outfitters Stock Up 5.7%

Shares of URBN opened at $78.31 on Tuesday. The firm’s fifty day moving average is $67.68 and its two-hundred day moving average is $70.56. The stock has a market cap of $7.02 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28. Urban Outfitters, Inc. has a 52-week low of $41.89 and a 52-week high of $80.71.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, November 25th. The apparel retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. Urban Outfitters’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. As a group, research analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mary Egan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the transaction, the director owned 14,250 shares of the company’s stock, valued at approximately $999,210. The trade was a 6.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tricia D. Smith sold 3,400 shares of the business’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $69.77, for a total transaction of $237,218.00. Following the completion of the transaction, the chief executive officer owned 10,077 shares in the company, valued at $703,072.29. The trade was a 25.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 84,400 shares of company stock worth $6,123,938. 31.60% of the stock is currently owned by corporate insiders.

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.