EFG Asset Management North America Corp. Acquires 13,337 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

EFG Asset Management North America Corp. increased its stake in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 113.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,092 shares of the apparel retailer’s stock after purchasing an additional 13,337 shares during the period. EFG Asset Management North America Corp.’s holdings in Abercrombie & Fitch were worth $3,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ANF. Vanguard Group Inc. lifted its position in Abercrombie & Fitch by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,755,692 shares of the apparel retailer’s stock valued at $860,303,000 after purchasing an additional 53,999 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Abercrombie & Fitch by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,221,890 shares of the apparel retailer’s stock valued at $171,815,000 after purchasing an additional 63,157 shares during the last quarter. Wellington Management Group LLP grew its holdings in Abercrombie & Fitch by 25.2% during 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 buying an additional 204,901 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Abercrombie & Fitch by 7.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer’s stock valued at $121,733,000 after purchasing an additional 60,022 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Abercrombie & Fitch by 23.2% in the 4th quarter. Fisher Asset Management LLC now owns 701,798 shares of the apparel retailer’s stock worth $104,898,000 after buying an additional 131,970 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley cut 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 report on Wednesday, January 15th. Telsey Advisory Group decreased their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Raymond James set a $110.00 price objective on Abercrombie & Fitch in a research note on Thursday, March 6th. Jefferies Financial Group decreased their target price on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.88.

Abercrombie & Fitch Price Performance

Shares of Abercrombie & Fitch stock opened at $79.13 on Tuesday. The business has a 50-day moving average of $105.01 and a 200 day moving average of $131.01. Abercrombie & Fitch Co. has a 12 month low of $74.31 and a 12 month high of $196.99. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 7.83 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research 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 stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 29.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.