Sequoia Financial Advisors LLC decreased its stake in shares of Abercrombie & Fitch Co. (NYSE:ANF – Free Report) by 26.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,358 shares of the apparel retailer’s stock after selling 489 shares during the period. Sequoia Financial Advisors LLC’s holdings in Abercrombie & Fitch were worth $203,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ANF. Everence Capital Management Inc. acquired a new position in shares of Abercrombie & Fitch during the fourth quarter valued at approximately $212,000. Empirical Finance LLC increased its position in shares of Abercrombie & Fitch by 87.2% during the 4th quarter. Empirical Finance LLC now owns 8,818 shares of the apparel retailer’s stock valued at $1,318,000 after purchasing an additional 4,108 shares during the period. Lmcg Investments LLC raised its stake in shares of Abercrombie & Fitch by 11.2% in the 4th quarter. Lmcg Investments LLC now owns 24,669 shares of the apparel retailer’s stock worth $3,687,000 after buying an additional 2,479 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Abercrombie & Fitch by 228.9% in the third quarter. Mutual of America Capital Management LLC now owns 27,621 shares of the apparel retailer’s stock valued at $3,864,000 after buying an additional 19,222 shares during the period. Finally, Rhumbline Advisers boosted its stake in Abercrombie & Fitch by 3.1% during the fourth quarter. Rhumbline Advisers now owns 158,554 shares of the apparel retailer’s stock valued at $23,699,000 after buying an additional 4,837 shares in the last quarter.
Abercrombie & Fitch Trading Down 0.2 %
Shares of ANF stock opened at $82.44 on Friday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 8.15 and a beta of 1.45. Abercrombie & Fitch Co. has a 1-year low of $74.31 and a 1-year high of $196.99. The stock’s fifty day simple moving average is $107.79 and its 200-day simple moving average is $132.03.
Abercrombie & Fitch (NYSE:ANF – Get Free Report) last released its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.09. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.97 EPS. On average, sell-side analysts predict that Abercrombie & Fitch Co. will post 10.62 EPS for the current year.
Abercrombie & Fitch declared that its board has approved a stock repurchase plan on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several brokerages have commented on ANF. Telsey Advisory Group dropped their price target on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their target price on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Raymond James set a $110.00 target price on shares of Abercrombie & Fitch in a report on Thursday, March 6th. StockNews.com cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday, March 9th. Finally, Morgan Stanley reduced their price objective on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.88.
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About Abercrombie & Fitch
(Free Report)
Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.
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