Lazard Asset Management LLC Raises Holdings in Urban Outfitters, Inc. $URBN

Lazard Asset Management LLC boosted its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 36.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 403,880 shares of the apparel retailer’s stock after acquiring an additional 107,563 shares during the quarter. Lazard Asset Management LLC’s holdings in Urban Outfitters were worth $25,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Urban Outfitters by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock worth $273,274,000 after purchasing an additional 338,622 shares during the period. Abrams Bison Investments LLC acquired a new stake in Urban Outfitters during the 4th quarter worth approximately $127,114,000. Geode Capital Management LLC raised its holdings in Urban Outfitters by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer’s stock valued at $113,434,000 after buying an additional 35,244 shares during the period. Jupiter Asset Management Ltd. raised its holdings in 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 valued at $97,646,000 after buying an additional 327,453 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Urban Outfitters by 23.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 981,130 shares of the apparel retailer’s stock valued at $62,155,000 after acquiring an additional 189,454 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Trading Up 3.6%

Shares of URBN stock opened at $75.20 on Wednesday. The company has a market capitalization of $6.44 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22. The firm has a fifty day simple moving average of $72.63 and a 200-day simple moving average of $69.98. Urban Outfitters, Inc. has a twelve month low of $59.53 and a twelve month high of $84.35.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $1.16 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Equities research analysts predict that Urban Outfitters, Inc. will post 6.13 EPS for the current year.

Insider Transactions at Urban Outfitters

In other news, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of the business’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 transaction, the chief financial officer owned 17,023 shares in the company, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 32.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on URBN. Zacks Research raised shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Jefferies Financial Group reissued a “hold” rating and issued a $72.00 price objective on shares of Urban Outfitters in a research report on Thursday, May 21st. Wall Street Zen upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. The Goldman Sachs Group raised Urban Outfitters from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.91.

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.