Cibc World Markets Corp Invests $703,000 in Abercrombie & Fitch Co. (NYSE:ANF)

Cibc World Markets Corp purchased a new stake in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,706 shares of the apparel retailer's stock, valued at approximately $703,000.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $27,000. UMB Bank n.a. lifted its position in shares of Abercrombie & Fitch by 92.2% during the 4th 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 grew its holdings in shares of Abercrombie & Fitch by 604.4% during the 3rd quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer's stock worth $44,000 after purchasing an additional 272 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Abercrombie & Fitch by 56.2% in the fourth 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 position in Abercrombie & Fitch in the fourth quarter valued at about $69,000.

Abercrombie & Fitch Stock Down 0.9 %

Shares of ANF stock traded down $0.66 during mid-day trading on Wednesday, reaching $75.87. 1,979,284 shares of the stock traded hands, compared to its average volume of 1,834,321. Abercrombie & Fitch Co. has a 1-year low of $74.31 and a 1-year high of $196.99. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 7.50 and a beta of 1.45. The stock's fifty day simple moving average is $103.92 and its two-hundred day simple moving average is $130.62.

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

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Telsey Advisory Group decreased their target price on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group decreased their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley reduced their target price on Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 15th. StockNews.com cut Abercrombie & Fitch from a "buy" rating to a "hold" rating in a report on Sunday, March 9th. Finally, Raymond James set a $110.00 price objective on Abercrombie & Fitch in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.