Lazard Asset Management LLC Grows Stock Position in Urban Outfitters, Inc. $URBN

Lazard Asset Management LLC raised its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 36.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,880 shares of the apparel retailer’s stock after acquiring an additional 107,563 shares during the quarter. Lazard Asset Management LLC owned approximately 0.47% of Urban Outfitters worth $25,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Urban Outfitters by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock valued at $273,274,000 after purchasing an additional 338,622 shares during the last quarter. Abrams Bison Investments LLC purchased a new stake in Urban Outfitters in the 4th quarter valued at approximately $127,114,000. Geode Capital Management LLC grew its holdings in Urban Outfitters by 2.4% during the 4th 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 last quarter. Jupiter Asset Management Ltd. grew its holdings in Urban Outfitters by 33.8% during the 4th 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 last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Urban Outfitters by 23.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 981,130 shares of the apparel retailer’s stock valued at $62,155,000 after buying an additional 189,454 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Performance

Shares of URBN opened at $75.20 on Wednesday. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35. 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 stock has a fifty day moving average of $72.63 and a two-hundred day moving average of $69.98.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, equities research analysts forecast 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 analysts have recently weighed in on URBN shares. JPMorgan Chase & Co. boosted their price target on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Zacks Research raised Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Morgan Stanley reiterated an “overweight” rating and set a $89.00 price objective on shares of Urban Outfitters in a research report on Monday, July 6th. The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and boosted their target price for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Finally, Bank of America upped their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Urban Outfitters presently has an average rating of “Moderate Buy” and a consensus price target of $87.91.

Insider Activity

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters 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 owned 17,023 shares in the company, valued at $1,249,828.66. The trade was a 22.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Azeez Hayne sold 8,733 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Corporate insiders own 32.10% of the company’s stock.

Urban Outfitters 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.