Corebridge Financial Inc. Sells 4,498 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

Corebridge Financial Inc. reduced its stake in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,450 shares of the apparel retailer's stock after selling 4,498 shares during the quarter. Corebridge Financial Inc. owned about 0.16% of Abercrombie & Fitch worth $12,324,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Abercrombie & Fitch in the 4th quarter valued at about $27,000. UMB Bank n.a. lifted its stake 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 worth $33,000 after purchasing an additional 107 shares in the last quarter. Private Trust Co. NA boosted its holdings in Abercrombie & Fitch by 604.4% in the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer's stock worth $44,000 after acquiring an additional 272 shares during the period. Fifth Third Bancorp grew its holdings in Abercrombie & Fitch by 56.2% during 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 in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at about $69,000.

Analyst Ratings Changes

ANF has been the topic of several research reports. Citigroup cut their price objective on Abercrombie & Fitch from $160.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Raymond James set a $110.00 price objective on Abercrombie & Fitch in a report on Thursday, March 6th. StockNews.com cut shares of Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research note on Sunday, March 9th. Morgan Stanley dropped their price objective on 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. Finally, Telsey Advisory Group decreased 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Abercrombie & Fitch presently has an average rating of "Moderate Buy" and a consensus target price of $140.88.

Remove Ads

Abercrombie & Fitch Price Performance

Abercrombie & Fitch stock traded down $0.89 during trading hours on Friday, hitting $76.65. The company had a trading volume of 2,053,814 shares, compared to its average volume of 1,887,318. Abercrombie & Fitch Co. has a fifty-two week low of $74.31 and a fifty-two week high of $196.99. The firm's fifty day moving average is $100.75 and its 200-day moving average is $129.47. The firm has a market capitalization of $3.86 billion, a P/E ratio of 7.58 and a beta of 1.45.

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. Analysts anticipate that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current year.

Abercrombie & Fitch declared that its board has initiated a share repurchase plan on Wednesday, March 5th that permits the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

About Abercrombie & Fitch

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.