Summit Global Investments Takes $534,000 Position in Abercrombie & Fitch Co. (NYSE:ANF)

Summit Global Investments acquired a new position in shares of Abercrombie & Fitch Co. (NYSE:ANF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,575 shares of the apparel retailer’s stock, valued at approximately $534,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ANF. SBI Securities Co. Ltd. acquired a new position in shares of Abercrombie & Fitch during the 4th quarter worth about $27,000. UMB Bank n.a. boosted its stake in Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 107 shares during the last quarter. Private Trust Co. NA increased its stake in Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock valued at $44,000 after purchasing an additional 272 shares in the last quarter. Fifth Third Bancorp raised its holdings in Abercrombie & Fitch by 56.2% in the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after purchasing an additional 132 shares during the period. Finally, Parkside Financial Bank & Trust bought a new position in shares of Abercrombie & Fitch during the fourth quarter worth $69,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Citigroup dropped their price target on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley decreased their price objective on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Raymond James set a $110.00 target price on Abercrombie & Fitch in a research note on Thursday, March 6th. Finally, UBS Group reduced their price target on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.88.

Abercrombie & Fitch Stock Down 0.3 %

Shares of ANF stock opened at $79.13 on Tuesday. Abercrombie & Fitch Co. has a 12 month low of $74.31 and a 12 month high of $196.99. The company’s fifty day simple moving average is $105.01 and its 200-day simple moving average is $131.01. The firm has a market cap of $3.99 billion, a PE ratio of 7.83 and a beta of 1.45.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, topping the consensus estimate of $3.48 by $0.09. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 EPS. On average, equities analysts predict that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch declared that its board has authorized a share buyback plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.