Cannell & Spears LLC Acquires 33,549 Shares of Urban Outfitters, Inc. $URBN

Cannell & Spears LLC boosted its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 89.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,039 shares of the apparel retailer’s stock after buying an additional 33,549 shares during the quarter. Cannell & Spears LLC’s holdings in Urban Outfitters were worth $4,411,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. purchased a new stake in Urban Outfitters during the 4th quarter valued at $27,000. Brown Brothers Harriman & Co. grew its stake in shares of Urban Outfitters by 815.0% during the 4th 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 increased its holdings in Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 149 shares in the last quarter. Richardson Financial Services Inc. raised its stake 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. Finally, Spire Wealth Management raised its stake in Urban Outfitters by 83.3% during the 4th quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 200 shares during the period. 77.61% of the stock is currently owned by institutional investors.

Urban Outfitters Trading Up 0.5%

URBN opened at $69.97 on Friday. The firm has a market cap of $5.99 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.29 and a beta of 1.22. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35. The stock has a 50-day moving average of $72.44 and a 200 day moving average of $70.12.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. On average, research analysts forecast that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the business’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 transaction of $369,743.12. Following the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. The trade was a 22.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 32.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on URBN shares. Bank of America upped their price target on shares of 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 lifted their target price for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Wall Street Zen upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Morgan Stanley reissued an “overweight” rating and set a $89.00 target price on shares of Urban Outfitters in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price target on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.