Abercrombie & Fitch Co. (NYSE:ANF) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in Abercrombie & Fitch Co. (NYSE:ANF) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,450 shares of the apparel retailer’s stock after selling 4,498 shares during the quarter. Corebridge Financial Inc.’s holdings in Abercrombie & Fitch were worth $12,324,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its position in Abercrombie & Fitch by 30.9% in the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after acquiring an additional 98 shares during the period. UMB Bank n.a. grew its stake in shares of Abercrombie & Fitch by 92.2% in 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 during the last quarter. Arizona State Retirement System increased its holdings in shares of Abercrombie & Fitch by 0.8% in the fourth 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 during the period. Atria Investments Inc raised its stake in shares of Abercrombie & Fitch by 7.4% during the fourth quarter. Atria Investments Inc now owns 1,679 shares of the apparel retailer’s stock worth $251,000 after purchasing an additional 115 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Abercrombie & Fitch by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,047 shares of the apparel retailer’s stock worth $1,392,000 after purchasing an additional 118 shares during the period.

Abercrombie & Fitch Stock Performance

ANF opened at $76.67 on Wednesday. Abercrombie & Fitch Co. has a one year low of $74.31 and a one year high of $196.99. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 7.58 and a beta of 1.45. The business’s fifty day moving average is $103.92 and its two-hundred day moving average is $130.62.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.97 EPS. On average, analysts predict that Abercrombie & Fitch Co. will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch announced that its board has initiated a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 29.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on ANF. UBS Group dropped their price objective on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley cut 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. Citigroup lowered their price objective on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Raymond James set a $110.00 price target on Abercrombie & Fitch in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut their price objective on Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abercrombie & Fitch currently has a consensus rating of “Moderate Buy” and an average target price 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.