Easterly Investment Partners LLC Buys New Stake in Abercrombie & Fitch Co. (NYSE:ANF)

Easterly Investment Partners LLC purchased a new position in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 31,358 shares of the apparel retailer's stock, valued at approximately $4,687,000. Easterly Investment Partners LLC owned approximately 0.06% of Abercrombie & Fitch at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ANF. SBI Securities Co. Ltd. acquired a new position in shares of Abercrombie & Fitch in the 4th quarter worth $27,000. UMB Bank n.a. raised its holdings in shares of Abercrombie & Fitch by 92.2% during the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 107 shares during the period. Private Trust Co. NA lifted its position in shares of Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer's stock valued at $44,000 after acquiring an additional 272 shares in the last quarter. Fifth Third Bancorp boosted its stake in Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock worth $55,000 after purchasing an additional 132 shares during the period. Finally, Parkside Financial Bank & Trust acquired a new stake in Abercrombie & Fitch during the 4th quarter valued at $69,000.

Abercrombie & Fitch Price Performance

NYSE:ANF traded down $0.66 during mid-day trading on Monday, reaching $75.91. The stock had a trading volume of 726,622 shares, compared to its average volume of 1,882,960. The stock has a market cap of $3.82 billion, a P/E ratio of 7.49 and a beta of 1.45. The business's 50 day moving average is $100.75 and its 200 day moving average is $129.47. Abercrombie & Fitch Co. has a fifty-two week low of $73.54 and a fifty-two week high of $196.99.

Remove Ads

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, topping the consensus estimate of $3.48 by $0.09. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. Abercrombie & Fitch's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 EPS. Equities analysts expect that Abercrombie & Fitch Co. will post 10.62 EPS for the current year.

Abercrombie & Fitch declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Abercrombie & Fitch from $189.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. StockNews.com downgraded Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research note on Sunday, March 9th. Raymond James set a $110.00 target price on Abercrombie & Fitch in a report on Thursday, March 6th. Telsey Advisory Group reduced their price target on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley dropped their price objective on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.88.

Abercrombie & Fitch Company Profile

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.