Kentucky Retirement Systems Makes New Investment in Urban Outfitters, Inc. $URBN

Kentucky Retirement Systems bought a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,004 shares of the apparel retailer’s stock, valued at approximately $570,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Urban Outfitters in the fourth quarter worth about $27,000. Brown Brothers Harriman & Co. boosted its position in shares of Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after acquiring an additional 326 shares during the period. Salomon & Ludwin LLC grew its stake in Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Spire Wealth Management grew its stake in Urban Outfitters by 83.3% during the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 200 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Urban Outfitters by 90.3% during the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 205 shares during the period. 77.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 17,023 shares in the company, valued at $1,249,828.66. The trade was a 22.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 32.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $72.00 target price on shares of Urban Outfitters in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Zacks Research raised shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Bank of America increased their price objective on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of “Moderate Buy” and an average target price of $87.91.

Urban Outfitters Trading Down 2.1%

URBN stock opened at $74.18 on Friday. The company’s 50 day moving average is $72.76 and its 200 day moving average is $69.93. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35.

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