Truist Financial Corp Has $426,000 Stake in Urban Outfitters, Inc. (NASDAQ:URBN)

Truist Financial Corp trimmed its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 33.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,384 shares of the apparel retailer’s stock after selling 5,268 shares during the period. Truist Financial Corp’s holdings in Urban Outfitters were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its stake in Urban Outfitters by 2.4% in the second quarter. QRG Capital Management Inc. now owns 9,327 shares of the apparel retailer’s stock valued at $383,000 after acquiring an additional 221 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Urban Outfitters by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock worth $384,000 after buying an additional 258 shares during the period. Signaturefd LLC boosted its position in shares of Urban Outfitters by 15.5% during the second quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock worth $92,000 after buying an additional 299 shares during the period. Arizona State Retirement System boosted its position in shares of Urban Outfitters by 2.4% during the second quarter. Arizona State Retirement System now owns 16,976 shares of the apparel retailer’s stock worth $697,000 after buying an additional 401 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Urban Outfitters by 5.2% during the second quarter. Commonwealth Equity Services LLC now owns 9,712 shares of the apparel retailer’s stock worth $399,000 after buying an additional 482 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on URBN. Barclays reduced their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. StockNews.com cut Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company reduced their price objective on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. BMO Capital Markets reduced their price objective on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a research report on Thursday, August 22nd. Finally, Bank of America reduced their price objective on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.30.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN opened at $37.56 on Friday. The stock has a 50 day moving average price of $37.47 and a 200 day moving average price of $40.52. Urban Outfitters, Inc. has a 52 week low of $31.37 and a 52 week high of $48.90. The stock has a market capitalization of $3.47 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.89 and a beta of 1.49.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.24. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that Urban Outfitters, Inc. will post 3.63 EPS for the current year.

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 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.