Westpac Banking Corp Sells 36,236 Shares of Urban Outfitters, Inc. (URBN)
Westpac Banking Corp reduced its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 22.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 123,985 shares of the apparel retailer’s stock after selling 36,236 shares during the quarter. Westpac Banking Corp’s holdings in Urban Outfitters were worth $4,347,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of URBN. Senvest Management LLC acquired a new stake in Urban Outfitters in the 3rd quarter valued at $36,629,000. Dimensional Fund Advisors LP grew its position in shares of Urban Outfitters by 84.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,199,015 shares of the apparel retailer’s stock valued at $59,310,000 after acquiring an additional 1,462,130 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Urban Outfitters by 59.2% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,829,967 shares of the apparel retailer’s stock valued at $33,928,000 after acquiring an additional 680,511 shares during the period. Majedie Asset Management Ltd bought a new position in shares of Urban Outfitters in the 3rd quarter valued at about $11,960,000. Finally, Bank of New York Mellon Corp grew its position in shares of Urban Outfitters by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,234,875 shares of the apparel retailer’s stock valued at $101,215,000 after acquiring an additional 308,063 shares during the period. Hedge funds and other institutional investors own 85.94% of the company’s stock.
A number of brokerages have recently commented on URBN. Telsey Advisory Group lifted their price objective on shares of Urban Outfitters from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, January 2nd. Robert W. Baird set a $39.00 price objective on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Friday, December 22nd. Zacks Investment Research downgraded shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 6th. BidaskClub downgraded shares of Urban Outfitters from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. Finally, Nomura reissued a “neutral” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Urban Outfitters in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.40.
Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Monday, November 20th. The apparel retailer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The company had revenue of $892.77 million during the quarter, compared to analysts’ expectations of $860.64 million. Urban Outfitters had a net margin of 4.81% and a return on equity of 13.34%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. equities research analysts expect that Urban Outfitters, Inc. will post 1.56 earnings per share for the current year.
Urban Outfitters Profile
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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