Principal Financial Group Inc. Sells 25,669 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Principal Financial Group Inc. trimmed its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,824 shares of the apparel retailer’s stock after selling 25,669 shares during the period. Principal Financial Group Inc. owned about 0.42% of Urban Outfitters worth $12,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in URBN. JPMorgan Chase & Co. raised its holdings in shares of Urban Outfitters by 10.2% during the first quarter. JPMorgan Chase & Co. now owns 334,511 shares of the apparel retailer’s stock worth $8,400,000 after acquiring an additional 30,879 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Urban Outfitters by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 19,483 shares of the apparel retailer’s stock worth $490,000 after acquiring an additional 625 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of Urban Outfitters during the first quarter worth $254,000. MetLife Investment Management LLC increased its stake in Urban Outfitters by 40.6% in the 1st quarter. MetLife Investment Management LLC now owns 78,323 shares of the apparel retailer’s stock valued at $1,967,000 after buying an additional 22,600 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Urban Outfitters by 3.2% in the 1st quarter. Rhumbline Advisers now owns 192,880 shares of the apparel retailer’s stock valued at $4,843,000 after buying an additional 5,917 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $36.79 on Friday. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.46 and a beta of 1.50. The company has a 50-day simple moving average of $33.49 and a 200 day simple moving average of $32.98. Urban Outfitters, Inc. has a 52 week low of $23.26 and a 52 week high of $37.81.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, August 22nd. The apparel retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.89 by $0.21. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Urban Outfitters had a net margin of 4.56% and a return on equity of 12.51%. Urban Outfitters’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. Sell-side analysts forecast that Urban Outfitters, Inc. will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on URBN. Wells Fargo & Company lifted their price target on shares of Urban Outfitters from $30.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 23rd. Morgan Stanley lifted their price target on shares of Urban Outfitters from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. UBS Group lifted their price target on shares of Urban Outfitters from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Wednesday, August 23rd. Robert W. Baird lifted their price target on shares of Urban Outfitters from $32.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 23rd. Finally, Citigroup downgraded shares of Urban Outfitters from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $36.00 to $40.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and an average target price of $35.92.

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 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.