Moran Wealth Management LLC Grows Holdings in Abercrombie & Fitch Co. (NYSE:ANF)

Moran Wealth Management LLC boosted its holdings in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,407 shares of the apparel retailer's stock after purchasing an additional 9,686 shares during the quarter. Moran Wealth Management LLC owned about 0.10% of Abercrombie & Fitch worth $7,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANF. SBI Securities Co. Ltd. purchased a new stake in Abercrombie & Fitch in the 4th quarter valued at $27,000. UMB Bank n.a. raised its position in Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 107 shares during the last quarter. Farther Finance Advisors LLC raised its position in Abercrombie & Fitch by 81.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 274 shares of the apparel retailer's stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Private Trust Co. NA raised its position in 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 purchasing an additional 272 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock valued at $55,000 after purchasing an additional 132 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on ANF. JPMorgan Chase & Co. cut their price objective on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. UBS Group cut their price objective on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Morgan Stanley cut their price objective on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 15th. Finally, Citigroup cut their price objective on shares of Abercrombie & Fitch from $160.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Abercrombie & Fitch presently has an average rating of "Moderate Buy" and a consensus price target of $140.88.

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Abercrombie & Fitch Stock Performance

NYSE ANF traded up $0.48 during trading hours on Tuesday, reaching $78.65. The company's stock had a trading volume of 2,624,565 shares, compared to its average volume of 1,808,124. The stock has a market cap of $3.96 billion, a PE ratio of 7.78 and a beta of 1.45. Abercrombie & Fitch Co. has a fifty-two week low of $75.65 and a fifty-two week high of $196.99. The company's 50-day moving average is $118.05 and its two-hundred day moving average is $135.30.

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

Abercrombie & Fitch announced that its Board of Directors has approved a share buyback plan on Wednesday, March 5th that allows the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

Abercrombie & Fitch 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.