Fifth Third Wealth Advisors LLC Makes New $265,000 Investment in Abercrombie & Fitch Co. (NYSE:ANF)

Fifth Third Wealth Advisors LLC bought a new position in Abercrombie & Fitch Co. (NYSE:ANF) in the second quarter, HoldingsChannel.com reports. The fund bought 1,488 shares of the apparel retailer’s stock, valued at approximately $265,000.

A number of other large investors have also added to or reduced their stakes in ANF. Norges Bank bought a new stake in Abercrombie & Fitch in the 4th quarter worth approximately $37,632,000. Assenagon Asset Management S.A. grew its position in Abercrombie & Fitch by 2,036.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock worth $74,615,000 after purchasing an additional 399,922 shares during the period. Hennessy Advisors Inc. bought a new stake in Abercrombie & Fitch in the 4th quarter worth approximately $32,897,000. Jupiter Asset Management Ltd. grew its position in Abercrombie & Fitch by 613.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 356,610 shares of the apparel retailer’s stock worth $44,694,000 after purchasing an additional 306,616 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Abercrombie & Fitch by 45.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 454,550 shares of the apparel retailer’s stock worth $56,969,000 after purchasing an additional 141,788 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Abercrombie & Fitch from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. upgraded shares of Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $167.00 to $194.00 in a research note on Monday, July 22nd. Morgan Stanley lifted their price target on shares of Abercrombie & Fitch from $112.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. UBS Group lifted their price target on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Finally, Argus cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.00.

Abercrombie & Fitch Price Performance

ANF stock traded down $1.71 during mid-day trading on Thursday, hitting $169.17. The company had a trading volume of 299,817 shares, compared to its average volume of 1,644,315. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 21.24 and a beta of 1.54. Abercrombie & Fitch Co. has a 12-month low of $47.13 and a 12-month high of $196.99. The company has a quick ratio of 1.15, a current ratio of 1.64 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $164.38 and a 200 day moving average price of $143.04.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 EPS for the quarter, topping the consensus estimate of $1.66 by $0.48. Abercrombie & Fitch had a net margin of 9.53% and a return on equity of 44.83%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $967.37 million. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts anticipate that Abercrombie & Fitch Co. will post 9.35 earnings per share for the current year.

Insider Transactions at Abercrombie & Fitch

In other news, Director Kenneth B. Robinson sold 1,300 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $171.61, for a total value of $223,093.00. Following the sale, the director now directly owns 5,880 shares in the company, valued at approximately $1,009,066.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Kenneth B. Robinson sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $171.61, for a total transaction of $223,093.00. Following the transaction, the director now directly owns 5,880 shares in the company, valued at approximately $1,009,066.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $176.48, for a total transaction of $1,588,320.00. Following the transaction, the chief financial officer now owns 115,455 shares in the company, valued at $20,375,498.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,120 shares of company stock worth $3,875,693 in the last three months. Insiders own 3.77% of the company’s stock.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.