Vestcor Inc cut its stake in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,318 shares of the apparel retailer's stock after selling 11,568 shares during the quarter. Vestcor Inc owned approximately 0.08% of Abercrombie & Fitch worth $5,727,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Westfield Capital Management Co. LP purchased a new position in shares of Abercrombie & Fitch in the third quarter valued at approximately $73,048,000. Raymond James Financial Inc. acquired a new position in Abercrombie & Fitch in the 4th quarter valued at $31,371,000. Wellington Management Group LLP lifted its holdings in Abercrombie & Fitch by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer's stock valued at $142,379,000 after purchasing an additional 204,901 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Abercrombie & Fitch by 23.2% during the 4th quarter. Fisher Asset Management LLC now owns 701,798 shares of the apparel retailer's stock worth $104,898,000 after purchasing an additional 131,970 shares during the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of Abercrombie & Fitch by 561.7% during the third quarter. Bridgewater Associates LP now owns 125,550 shares of the apparel retailer's stock worth $17,564,000 after buying an additional 106,577 shares in the last quarter.
Analyst Upgrades and Downgrades
ANF has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target 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. Raymond James set a $110.00 target price on shares of Abercrombie & Fitch in a research note on Thursday, March 6th. Citigroup dropped their price target on Abercrombie & Fitch from $160.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. StockNews.com downgraded Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research report on Sunday, March 9th. Finally, Morgan Stanley lowered 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Abercrombie & Fitch presently has an average rating of "Moderate Buy" and a consensus price target of $140.88.
Check Out Our Latest Stock Analysis on ANF
Abercrombie & Fitch Price Performance
Shares of NYSE:ANF traded down $2.95 during mid-day trading on Tuesday, reaching $79.69. 2,126,181 shares of the company were exchanged, compared to its average volume of 1,809,467. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 7.88 and a beta of 1.45. Abercrombie & Fitch Co. has a 1 year low of $74.31 and a 1 year high of $196.99. The firm's 50-day simple moving average is $112.00 and its 200 day simple moving average is $133.21.
Abercrombie & Fitch (NYSE:ANF - Get Free Report) last posted its earnings results 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. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. Abercrombie & Fitch's revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 EPS. On average, research analysts forecast 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 authorized a stock repurchase program on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.
Abercrombie & Fitch Company Profile
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Free Report)
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.
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