Summit Global Investments Invests $534,000 in Abercrombie & Fitch Co. (NYSE:ANF)

Summit Global Investments bought a new position in shares of Abercrombie & Fitch Co. (NYSE:ANF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,575 shares of the apparel retailer's stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ANF. SBI Securities Co. Ltd. acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at about $27,000. UMB Bank n.a. increased its holdings in shares of Abercrombie & Fitch by 92.2% in the fourth 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 in 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 worth $44,000 after purchasing an additional 272 shares during the last quarter. Fifth Third Bancorp lifted 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 worth $55,000 after buying an additional 132 shares in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Abercrombie & Fitch in the 4th quarter valued at $69,000.

Abercrombie & Fitch Stock Up 3.7 %

Shares of ANF traded up $2.79 during trading hours on Thursday, reaching $78.51. The stock had a trading volume of 630,037 shares, compared to its average volume of 1,830,807. The company has a market cap of $3.95 billion, a P/E ratio of 7.76 and a beta of 1.45. Abercrombie & Fitch Co. has a 52 week low of $74.31 and a 52 week high of $196.99. The firm has a 50-day moving average of $102.83 and a 200 day moving average of $130.24.

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

Abercrombie & Fitch announced that its board has initiated 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 purchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ANF. Jefferies Financial Group cut their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research note on Sunday, March 9th. UBS Group lowered their target price 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. Finally, Raymond James set a $110.00 target price on shares of Abercrombie & Fitch in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.88.

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.