State of Alaska Department of Revenue Has $1.31 Million Stock Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Posted by Defense World Staff on Oct 15th, 2023

State of Alaska Department of Revenue trimmed its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN – Free Report) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,598 shares of the apparel retailer’s stock after selling 1,430 shares during the period. State of Alaska Department of Revenue’s holdings in Urban Outfitters were worth $1,311,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Urban Outfitters by 21.4% in the 1st quarter. BlackRock Inc. now owns 12,133,038 shares of the apparel retailer’s stock valued at $336,328,000 after buying an additional 2,138,104 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Urban Outfitters in the 1st quarter valued at about $39,144,000. Arrowstreet Capital Limited Partnership lifted its stake in Urban Outfitters by 165.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,740,106 shares of the apparel retailer’s stock valued at $48,236,000 after purchasing an additional 1,083,423 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Urban Outfitters by 239.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,217,724 shares of the apparel retailer’s stock valued at $29,043,000 after purchasing an additional 858,886 shares during the last quarter. Finally, Shapiro Capital Management LLC lifted its holdings in Urban Outfitters by 4.6% during the 1st quarter. Shapiro Capital Management LLC now owns 9,472,995 shares of the apparel retailer’s stock valued at $237,867,000 after purchasing an additional 420,001 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on URBN shares. Robert W. Baird raised their price target on Urban Outfitters from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 23rd. Telsey Advisory Group upped their target price on Urban Outfitters from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company increased their target price on Urban Outfitters from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 23rd. Citigroup downgraded Urban Outfitters from a “buy” rating to a “neutral” rating and boosted their price target for the company from $36.00 to $40.00 in a research note on Monday, August 14th. Finally, Morgan Stanley lifted their target price on Urban Outfitters from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.92.

Check Out Our Latest Stock Analysis on Urban Outfitters

Urban Outfitters Stock Down 1.3 %

URBN stock opened at $31.61 on Friday. Urban Outfitters, Inc. has a 12 month low of $22.10 and a 12 month high of $37.81. The firm has a market cap of $2.93 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.41 and a beta of 1.49. The company’s 50-day moving average price is $33.40 and its two-hundred day moving average price is $31.58.

Urban Outfitters (NASDAQ:URBN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 22nd. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.21. Urban Outfitters had a return on equity of 12.51% and a net margin of 4.56%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts predict that Urban Outfitters, Inc. will post 3.21 EPS for the current year.

About Urban Outfitters

(Free Report)

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nully. 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.