Abercrombie & Fitch (NYSE:ANF) Shares Down 4%

Shares of Abercrombie & Fitch Co. (NYSE:ANF) dropped 4% on Monday . The stock traded as low as $136.26 and last traded at $136.53. Approximately 277,288 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,709,672 shares. The stock had previously closed at $142.19.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ANF shares. Argus downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. UBS Group reduced their price objective on shares of Abercrombie & Fitch from $193.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. upgraded shares of Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $167.00 to $194.00 in a report on Monday, July 22nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a report on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $176.57.

Abercrombie & Fitch Stock Down 4.6 %

The firm has a 50 day moving average price of $152.73 and a 200 day moving average price of $146.63. The stock has a market capitalization of $6.93 billion, a PE ratio of 16.72 and a beta of 1.50.

Insider Activity at Abercrombie & Fitch

In other news, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the chief financial officer now owns 106,455 shares in the company, valued at approximately $15,627,594. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Scott D. Lipesky sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the chief financial officer now owns 106,455 shares in the company, valued at approximately $15,627,594. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Helen Mccluskey sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total value of $487,830.00. Following the sale, the director now directly owns 37,470 shares of the company’s stock, valued at $5,222,568.60. The disclosure for this sale can be found here. In the last three months, insiders sold 31,541 shares of company stock valued at $4,310,256. 3.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of Abercrombie & Fitch by 16.0% in the second quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock worth $155,281,000 after purchasing an additional 120,509 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Abercrombie & Fitch by 146.3% in the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock worth $153,494,000 after acquiring an additional 512,700 shares during the period. Hennessy Advisors Inc. grew its position in shares of Abercrombie & Fitch by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 502,400 shares of the apparel retailer’s stock valued at $89,347,000 after purchasing an additional 76,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Abercrombie & Fitch by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 460,613 shares of the apparel retailer’s stock valued at $81,915,000 after purchasing an additional 20,616 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Abercrombie & Fitch by 45.3% during 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 in the last quarter.

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.