Todays Report: The Principal Financial Group Inc. Boosts Position in Urban Outfitters Inc. (URBN)

The Principal Financial Group Inc. Boosts Position in Urban Outfitters Inc. (URBN)

Principal Financial Group Inc. boosted its position in shares of Urban Outfitters Inc. (NASDAQ:URBN) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 145,089 shares of the apparel retailer’s stock after buying an additional 4,596 shares during the period. Principal Financial Group Inc. owned about 0.12% of Urban Outfitters worth $3,990,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new position in Urban Outfitters during the second quarter valued at $14,429,000. Dimensional Fund Advisors LP raised its position in Urban Outfitters by 50.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,499,020 shares of the apparel retailer’s stock valued at $41,219,000 after buying an additional 503,971 shares during the period. Emerald Advisers Inc. PA raised its position in Urban Outfitters by 286.2% in the second quarter. Emerald Advisers Inc. PA now owns 661,805 shares of the apparel retailer’s stock valued at $18,200,000 after buying an additional 490,430 shares during the period. AJO LP raised its position in Urban Outfitters by 1,012.6% in the second quarter. AJO LP now owns 496,344 shares of the apparel retailer’s stock valued at $13,649,000 after buying an additional 451,732 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Urban Outfitters during the second quarter valued at $9,815,000. 72.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Urban Outfitters Inc. (NASDAQ:URBN) opened at 33.91 on Friday. The firm has a market capitalization of $3.98 billion, a P/E ratio of 17.46 and a beta of 0.91. Urban Outfitters Inc. has a 52 week low of $19.26 and a 52 week high of $37.82. The company has a 50-day moving average of $35.12 and a 200 day moving average of $31.26.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. The business earned $890.57 million during the quarter, compared to the consensus estimate of $886.39 million. During the same quarter last year, the firm earned $0.52 earnings per share. Urban Outfitters’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Urban Outfitters Inc. will post $2.06 earnings per share for the current year.

URBN has been the topic of several recent research reports. Jefferies Group set a $45.00 target price on Urban Outfitters and gave the company a “buy” rating in a report on Monday, October 24th. Zacks Investment Research upgraded Urban Outfitters from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Goldman Sachs Group Inc. lowered Urban Outfitters from a “buy” rating to a “neutral” rating and raised their target price for the company from $33.00 to $35.00 in a report on Monday, August 22nd. Vetr upgraded Urban Outfitters from a “hold” rating to a “buy” rating and set a $37.50 target price on the stock in a report on Wednesday, August 31st. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $38.00 price objective on shares of Urban Outfitters in a research note on Saturday, September 10th. Twenty-one research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.78.

In related news, CFO Frank Conforti sold 4,000 shares of Urban Outfitters stock in a transaction on Friday, August 19th. The shares were sold at an average price of $37.42, for a total transaction of $149,680.00. Following the completion of the transaction, the chief financial officer now owns 4,000 shares of the company’s stock, valued at $149,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.30% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.

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