Abercrombie & Fitch Co. (NYSE:ANF) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its holdings in Abercrombie & Fitch Co. (NYSE:ANF) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,407 shares of the apparel retailer’s stock after acquiring an additional 9,686 shares during the period. Moran Wealth Management LLC owned approximately 0.10% of Abercrombie & Fitch worth $7,385,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Chartwell Investment Partners LLC increased its position in shares of Abercrombie & Fitch by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 9,445 shares of the apparel retailer’s stock worth $1,322,000 after acquiring an additional 74 shares in the last quarter. Atria Investments Inc grew its holdings in Abercrombie & Fitch by 5.4% during the 3rd quarter. Atria Investments Inc now owns 1,564 shares of the apparel retailer’s stock valued at $219,000 after purchasing an additional 80 shares in the last quarter. Private Trust Co. NA grew its holdings in Abercrombie & Fitch by 30.9% during the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after purchasing an additional 98 shares in the last quarter. UMB Bank n.a. grew its holdings in Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 107 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Abercrombie & Fitch by 0.8% during the 4th quarter. Arizona State Retirement System now owns 14,831 shares of the apparel retailer’s stock valued at $2,217,000 after purchasing an additional 115 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANF. Morgan Stanley lowered their price target on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Raymond James set a $110.00 price target on shares of Abercrombie & Fitch in a report on Thursday. StockNews.com lowered shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday. Citigroup reduced their price objective on shares of Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Jefferies Financial Group reduced their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.88.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock opened at $78.16 on Tuesday. Abercrombie & Fitch Co. has a 1 year low of $77.19 and a 1 year high of $196.99. The firm’s 50-day moving average is $119.47 and its 200-day moving average is $135.94. The company has a market cap of $3.94 billion, a P/E ratio of 7.73 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last issued its 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 firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company posted $2.97 earnings per share. Abercrombie & Fitch’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current year.

Abercrombie & Fitch declared that its Board of Directors has approved a share buyback program on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 29.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are 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.