Norges Bank Buys Shares of 575,895 Urban Outfitters, Inc. (NASDAQ:URBN)

Norges Bank purchased a new position in Urban Outfitters, Inc. (NASDAQ:URBN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 575,895 shares of the apparel retailer’s stock, valued at approximately $31,605,000. Norges Bank owned about 0.62% of Urban Outfitters 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 the business. State Street Corp raised its position in Urban Outfitters by 1.1% in the 3rd quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after buying an additional 31,100 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Urban Outfitters by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 2,188,806 shares of the apparel retailer’s stock valued at $120,122,000 after purchasing an additional 115,390 shares during the last quarter. American Century Companies Inc. lifted its position in Urban Outfitters by 9.0% during the fourth quarter. American Century Companies Inc. now owns 2,089,155 shares of the apparel retailer’s stock valued at $114,653,000 after purchasing an additional 173,082 shares during the period. Geode Capital Management LLC raised its stake in Urban Outfitters by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after buying an additional 18,249 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Urban Outfitters by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,966 shares of the apparel retailer’s stock worth $64,482,000 after buying an additional 60,697 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

Insider Activity at Urban Outfitters

In other news, Director Wesley S. Mcdonald sold 8,300 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $58.44, for a total value of $485,052.00. Following the sale, the director now directly owns 15,450 shares in the company, valued at $902,898. The trade was a 34.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry S. Cherken, Jr. sold 55,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $57.31, for a total transaction of $3,152,050.00. Following the completion of the transaction, the director now directly owns 510,296 shares of the company’s stock, valued at approximately $29,245,063.76. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,976 shares of company stock valued at $5,573,263. Insiders own 31.80% of the company’s stock.

Urban Outfitters Stock Performance

URBN stock opened at $46.61 on Friday. The company’s fifty day moving average price is $53.81 and its 200-day moving average price is $48.15. Urban Outfitters, Inc. has a one year low of $33.86 and a one year high of $61.16. The company has a market capitalization of $4.30 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.89 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. On average, research analysts predict that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

URBN has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Urban Outfitters from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Telsey Advisory Group boosted their price target on Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Urban Outfitters from $46.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Morgan Stanley raised Urban Outfitters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $63.00 in a research report on Tuesday, January 21st. Finally, Barclays raised their target price on shares of Urban Outfitters from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.00.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.