PNC Financial Services Group Inc. Grows Holdings in Urban Outfitters, Inc. (URBN)
PNC Financial Services Group Inc. boosted its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,995 shares of the apparel retailer’s stock after buying an additional 2,515 shares during the period. PNC Financial Services Group Inc.’s holdings in Urban Outfitters were worth $334,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in URBN. UBS Asset Management Americas Inc. raised its holdings in Urban Outfitters by 7.2% during the first quarter. UBS Asset Management Americas Inc. now owns 70,628 shares of the apparel retailer’s stock worth $1,678,000 after buying an additional 4,725 shares during the last quarter. Arizona State Retirement System raised its holdings in Urban Outfitters by 68.3% during the first quarter. Arizona State Retirement System now owns 36,700 shares of the apparel retailer’s stock worth $872,000 after buying an additional 14,900 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Urban Outfitters by 67.9% during the first quarter. Principal Financial Group Inc. now owns 367,566 shares of the apparel retailer’s stock worth $8,733,000 after buying an additional 148,619 shares during the last quarter. FMR LLC raised its holdings in Urban Outfitters by 7.8% during the first quarter. FMR LLC now owns 5,847,098 shares of the apparel retailer’s stock worth $138,927,000 after buying an additional 424,156 shares during the last quarter. Finally, Advantus Capital Management Inc raised its holdings in Urban Outfitters by 30.1% during the first quarter. Advantus Capital Management Inc now owns 11,310 shares of the apparel retailer’s stock worth $269,000 after buying an additional 2,618 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.
Shares of Urban Outfitters, Inc. (URBN) opened at 24.63 on Friday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 16.49 and a beta of 0.63. The company has a 50-day moving average of $23.01 and a 200-day moving average of $20.63. Urban Outfitters, Inc. has a 52 week low of $16.19 and a 52 week high of $40.80.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. The company had revenue of $873.00 million during the quarter, compared to the consensus estimate of $860.80 million. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. On average, analysts anticipate that Urban Outfitters, Inc. will post $1.41 EPS for the current year.
Urban Outfitters declared that its board has approved a share buyback program on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Several research analysts have weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and set a $21.00 price objective on shares of Urban Outfitters in a report on Monday, September 18th. Deutsche Bank AG downgraded shares of Urban Outfitters from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, October 3rd. Telsey Advisory Group upped their price objective on shares of Urban Outfitters from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. BMO Capital Markets set a $20.00 target price on shares of Urban Outfitters and gave the stock a “hold” rating in a research note on Monday, September 11th. Finally, Zacks Investment Research upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the stock. Urban Outfitters presently has an average rating of “Hold” and a consensus price target of $22.39.
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About Urban Outfitters
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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