Empowered Funds LLC Buys 49,168 Shares of Urban Outfitters, Inc. $URBN

Empowered Funds LLC lifted its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 41.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,826 shares of the apparel retailer’s stock after buying an additional 49,168 shares during the quarter. Empowered Funds LLC owned approximately 0.20% of Urban Outfitters worth $10,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of URBN. The Manufacturers Life Insurance Company increased its holdings in Urban Outfitters by 1.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 30,802 shares of the apparel retailer’s stock valued at $1,951,000 after acquiring an additional 496 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Urban Outfitters by 8.6% during the 1st quarter. Quantinno Capital Management LP now owns 10,100 shares of the apparel retailer’s stock valued at $640,000 after purchasing an additional 798 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of Urban Outfitters during the 1st quarter valued at about $2,822,000. Lazard Asset Management LLC grew its position in shares of Urban Outfitters by 36.3% during the first quarter. Lazard Asset Management LLC now owns 403,880 shares of the apparel retailer’s stock valued at $25,586,000 after purchasing an additional 107,563 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new position in shares of Urban Outfitters during the first quarter valued at about $249,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Up 0.5%

Urban Outfitters stock opened at $75.74 on Friday. The company’s 50-day moving average price is $72.74 and its 200-day moving average price is $69.90. The company has a market cap of $6.49 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. Urban Outfitters, Inc. has a twelve month low of $59.53 and a twelve month high of $84.35.

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 analysts’ consensus estimates of $1.12 by $0.18. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. As a group, sell-side analysts expect that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $72.00 target price on shares of Urban Outfitters in a research report on Thursday, May 21st. Zacks Research upgraded Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Bank of America upped 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. Finally, The Goldman Sachs Group raised Urban Outfitters from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $93.00 in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.91.

Insider Buying and Selling

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 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 of the company’s stock, valued at $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. The disclosure for this sale is available in the SEC filing. Corporate insiders own 32.10% of the company’s stock.

Urban Outfitters Company 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.