PNC Financial Services Group Inc. Purchases 2,067 Shares of Urban Outfitters, Inc. $URBN

PNC Financial Services Group Inc. increased its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,355 shares of the apparel retailer’s stock after purchasing an additional 2,067 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Urban Outfitters were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of URBN. Asset Management One Co. Ltd. lifted its holdings in Urban Outfitters by 11.7% in the 2nd quarter. Asset Management One Co. Ltd. now owns 1,340 shares of the apparel retailer’s stock worth $97,000 after buying an additional 140 shares during the period. Diversified Trust Co raised its holdings in shares of Urban Outfitters by 0.9% during the second quarter. Diversified Trust Co now owns 19,702 shares of the apparel retailer’s stock valued at $1,429,000 after acquiring an additional 185 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Urban Outfitters by 1.2% in the second quarter. Maryland State Retirement & Pension System now owns 16,611 shares of the apparel retailer’s stock worth $1,205,000 after acquiring an additional 198 shares during the period. GSA Capital Partners LLP boosted its holdings in Urban Outfitters by 2.0% in the first quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer’s stock valued at $545,000 after acquiring an additional 203 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Urban Outfitters by 32.6% in the second quarter. Parkside Financial Bank & Trust now owns 964 shares of the apparel retailer’s stock valued at $70,000 after acquiring an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on URBN. JPMorgan Chase & Co. lifted their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Wells Fargo & Company raised their price objective on shares of Urban Outfitters from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price on shares of Urban Outfitters in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a research report on Wednesday, October 8th. Finally, Citigroup restated a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Urban Outfitters in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.09.

Insider Activity at Urban Outfitters

In other news, Director Mary Egan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total value of $70,120.00. Following the transaction, the director owned 14,250 shares in the company, valued at approximately $999,210. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard A. Hayne sold 9,333 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $70.11, for a total transaction of $654,336.63. Following the sale, the chief executive officer owned 2,430,722 shares in the company, valued at approximately $170,417,919.42. The trade was a 0.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 44,400 shares of company stock valued at $3,118,738. 31.80% of the stock is owned by insiders.

Urban Outfitters Trading Down 3.0%

Shares of NASDAQ:URBN opened at $59.57 on Thursday. The stock has a fifty day simple moving average of $67.75 and a two-hundred day simple moving average of $69.62. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.04 and a beta of 1.28. Urban Outfitters, Inc. has a 12-month low of $36.48 and a 12-month high of $80.71.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts predict that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

About Urban Outfitters

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.