Fmr LLC Sells 589,288 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

FMR LLC trimmed its position in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,290,383 shares of the apparel retailer's stock after selling 589,288 shares during the quarter. FMR LLC owned approximately 10.50% of Abercrombie & Fitch worth $790,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of Abercrombie & Fitch by 96.0% in the 4th quarter. Russell Investments Group Ltd. now owns 54,807 shares of the apparel retailer's stock worth $8,193,000 after buying an additional 26,845 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Abercrombie & Fitch by 79.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 39,260 shares of the apparel retailer's stock valued at $5,868,000 after acquiring an additional 17,377 shares during the period. Integrated Quantitative Investments LLC bought a new stake in shares of Abercrombie & Fitch during the 4th quarter worth about $1,019,000. Pinpoint Asset Management Ltd increased its stake in shares of Abercrombie & Fitch by 175.5% during the fourth quarter. Pinpoint Asset Management Ltd now owns 4,000 shares of the apparel retailer's stock valued at $598,000 after acquiring an additional 2,548 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Abercrombie & Fitch by 13.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 21,341 shares of the apparel retailer's stock worth $3,190,000 after purchasing an additional 2,573 shares in the last quarter.

Remove Ads

Abercrombie & Fitch Price Performance

ANF traded up $0.61 during midday trading on Friday, hitting $73.60. 2,020,923 shares of the company's stock traded hands, compared to its average volume of 1,967,841. The company has a market cap of $3.60 billion, a PE ratio of 7.28 and a beta of 1.41. The stock's fifty day simple moving average is $89.15 and its 200-day simple moving average is $124.12. Abercrombie & Fitch Co. has a one year low of $65.40 and a one year high of $196.99.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on ANF shares. Citigroup decreased their price target on Abercrombie & Fitch from $135.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on Abercrombie & Fitch from $189.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. UBS Group cut their price target on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Morgan Stanley lowered 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. Finally, Telsey Advisory Group dropped 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Abercrombie & Fitch has an average rating of "Moderate Buy" and a consensus price target of $137.14.

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.