Axxcess Wealth Management LLC Raises Holdings in Abercrombie & Fitch Co. (NYSE:ANF)

Axxcess Wealth Management LLC lifted its position in Abercrombie & Fitch Co. (NYSE:ANF) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,525 shares of the apparel retailer’s stock after acquiring an additional 133 shares during the period. Axxcess Wealth Management LLC’s holdings in Abercrombie & Fitch were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ANF. Westfield Capital Management Co. LP purchased a new position in shares of Abercrombie & Fitch during the 3rd quarter valued at about $73,048,000. Raymond James Financial Inc. purchased a new stake in shares of Abercrombie & Fitch during the fourth quarter worth about $31,371,000. Wellington Management Group LLP increased its stake 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 worth $142,379,000 after buying an additional 204,901 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Abercrombie & Fitch by 23.2% in the 4th quarter. Fisher Asset Management LLC now owns 701,798 shares of the apparel retailer’s stock valued at $104,898,000 after purchasing an additional 131,970 shares in the last quarter. Finally, Bridgewater Associates LP boosted its position in Abercrombie & Fitch by 561.7% during the third quarter. Bridgewater Associates LP now owns 125,550 shares of the apparel retailer’s stock worth $17,564,000 after acquiring an additional 106,577 shares during the last quarter.

Abercrombie & Fitch Stock Performance

Shares of ANF stock opened at $79.35 on Friday. The stock’s 50-day moving average is $106.14 and its two-hundred day moving average is $131.56. Abercrombie & Fitch Co. has a 1 year low of $74.31 and a 1 year high of $196.99. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 7.85 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last released 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. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 EPS. As a group, research analysts predict that Abercrombie & Fitch Co. will post 10.62 EPS for the current year.

Abercrombie & Fitch declared that its board has approved a share repurchase plan on Wednesday, March 5th that allows the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ANF has been the topic of several analyst reports. Citigroup reduced their price target on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Morgan Stanley cut their target price on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 15th. Telsey Advisory Group reduced their price target on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 price objective on shares of Abercrombie & Fitch in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut their price target on Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.88.

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.