EFG Asset Management North America Corp. Purchases New Shares in Abercrombie & Fitch Co. (NYSE:ANF)

EFG Asset Management North America Corp. purchased a new position in Abercrombie & Fitch Co. (NYSE:ANF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,165 shares of the apparel retailer’s stock, valued at approximately $1,097,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Calamos Advisors LLC purchased a new stake in shares of Abercrombie & Fitch during the second quarter worth about $499,000. Louisiana State Employees Retirement System increased its stake in Abercrombie & Fitch by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,700 shares of the apparel retailer’s stock worth $4,570,000 after buying an additional 700 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Abercrombie & Fitch by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 502,400 shares of the apparel retailer’s stock valued at $89,347,000 after acquiring an additional 76,900 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Abercrombie & Fitch in the second quarter valued at approximately $265,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Abercrombie & Fitch by 84.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 4,496 shares of the apparel retailer’s stock worth $800,000 after acquiring an additional 2,056 shares during the last quarter.

Abercrombie & Fitch Stock Down 2.9 %

Shares of ANF traded down $4.92 during midday trading on Monday, reaching $164.91. The stock had a trading volume of 632,842 shares, compared to its average volume of 1,640,617. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 21.26 and a beta of 1.54. The company’s fifty day simple moving average is $163.54 and its two-hundred day simple moving average is $144.19. Abercrombie & Fitch Co. has a 1-year low of $49.11 and a 1-year high of $196.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.64 and a quick ratio of 1.15.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.48. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $967.37 million. Abercrombie & Fitch had a return on equity of 44.83% and a net margin of 9.53%. Abercrombie & Fitch’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. Equities research analysts expect that Abercrombie & Fitch Co. will post 9.35 earnings per share for the current year.

Insider Buying and Selling at Abercrombie & Fitch

In other news, Director James A. Goldman sold 4,120 shares of Abercrombie & Fitch stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $176.48, for a total transaction of $727,097.60. Following the sale, the director now owns 7,565 shares in the company, valued at $1,335,071.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Abercrombie & Fitch news, Director James A. Goldman sold 4,120 shares of Abercrombie & Fitch stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $176.48, for a total transaction of $727,097.60. Following the transaction, the director now owns 7,565 shares of the company’s stock, valued at $1,335,071.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Scott D. Lipesky sold 9,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $176.48, for a total value of $1,588,320.00. Following the completion of the sale, the chief financial officer now directly owns 115,455 shares of the company’s stock, valued at $20,375,498.40. The disclosure for this sale can be found here. Insiders sold 22,120 shares of company stock worth $3,875,693 over the last 90 days. Corporate insiders own 3.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $167.00 to $194.00 in a report on Monday, July 22nd. Argus cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Citigroup increased their price target on shares of Abercrombie & Fitch from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. UBS Group upped their price objective on Abercrombie & Fitch from $155.00 to $193.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Morgan Stanley increased their target price 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.00.

Abercrombie & Fitch Profile

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.