JPMorgan Chase & Co. Trims Position in Urban Outfitters, Inc. (NASDAQ:URBN)

JPMorgan Chase & Co. decreased its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 27.0% during the third quarter, Holdings Channel reports. The institutional investor owned 431,892 shares of the apparel retailer’s stock after selling 159,568 shares during the period. JPMorgan Chase & Co.’s holdings in Urban Outfitters were worth $16,546,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Urban Outfitters by 138.8% during the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after purchasing an additional 354 shares during the last quarter. Quarry LP boosted its stake in Urban Outfitters by 1,825.0% during the second quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 876 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Urban Outfitters during the 2nd quarter valued at approximately $42,000. Asset Management One Co. Ltd. bought a new stake in Urban Outfitters in the 3rd quarter worth approximately $47,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Urban Outfitters during the 2nd quarter worth approximately $48,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Price Performance

NASDAQ URBN opened at $56.96 on Friday. The stock’s fifty day moving average price is $47.86 and its 200 day moving average price is $42.56. Urban Outfitters, Inc. has a 1 year low of $33.86 and a 1 year high of $59.05. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.10 and a beta of 1.55.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.25. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts expect that Urban Outfitters, Inc. will post 3.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on URBN shares. Telsey Advisory Group raised their target price on shares of Urban Outfitters from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Citigroup upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their price target for the stock from $42.00 to $59.00 in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price target on Urban Outfitters from $46.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Urban Outfitters from $48.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, UBS Group increased their price target on shares of Urban Outfitters from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.64.

Urban Outfitters 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.