Texas Permanent School Fund Corp Cuts Stock Position in Urban Outfitters, Inc. $URBN

Texas Permanent School Fund Corp trimmed its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,839 shares of the apparel retailer’s stock after selling 23,387 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Urban Outfitters worth $4,776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new position in Urban Outfitters during the second quarter worth $26,000. Cullen Frost Bankers Inc. grew its position in shares of Urban Outfitters by 180.2% in the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 301 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Urban Outfitters by 125.1% during the second quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 274 shares in the last quarter. Kilter Group LLC acquired a new position in shares of Urban Outfitters during the 2nd quarter worth about $36,000. Finally, Geneos Wealth Management Inc. lifted its stake in Urban Outfitters by 282.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the apparel retailer’s stock valued at $44,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America boosted their price objective on Urban Outfitters from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Urban Outfitters in a research note on Monday, December 8th. Robert W. Baird set a $93.00 price objective on Urban Outfitters in a research note on Wednesday. Barclays raised their price objective on Urban Outfitters from $89.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Wells Fargo & Company upped their target price on shares of Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.50.

Urban Outfitters Stock Performance

NASDAQ URBN opened at $80.91 on Thursday. The stock’s fifty day moving average is $69.37 and its two-hundred day moving average is $71.42. The firm has a market capitalization of $7.26 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.20. Urban Outfitters, Inc. has a fifty-two week low of $41.89 and a fifty-two week high of $83.94.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 EPS for the quarter. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%.The business had revenue of $1.53 billion for the quarter. As a group, sell-side analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Richard A. Hayne sold 10,667 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $70.46, for a total value of $751,596.82. Following the transaction, the chief executive officer directly owned 18,027,939 shares in the company, valued at $1,270,248,581.94. The trade was a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 212,733 shares of company stock worth $16,213,152 over the last quarter. 31.60% of the stock is owned by insiders.

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.