GeoWealth Management LLC Takes Position in Abercrombie & Fitch Co. (NYSE:ANF)

GeoWealth Management LLC bought a new position in shares of Abercrombie & Fitch Co. (NYSE:ANF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 467 shares of the apparel retailer’s stock, valued at approximately $70,000.

Several other hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of Abercrombie & Fitch in the 4th quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in Abercrombie & Fitch by 92.2% in the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 107 shares during the period. Fifth Third Bancorp grew its stake in shares of Abercrombie & Fitch by 56.2% during the 4th 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. Private Trust Co. NA increased its holdings in shares of 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. Finally, Parkside Financial Bank & Trust acquired a new position in shares of Abercrombie & Fitch in the 4th quarter valued at $69,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ANF shares. Citigroup cut their price objective on shares of Abercrombie & Fitch from $135.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on Abercrombie & Fitch from $168.00 to $155.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Jefferies Financial Group reduced their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group dropped their price objective on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, StockNews.com downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.25.

Abercrombie & Fitch Stock Performance

NYSE ANF opened at $71.62 on Friday. The business has a fifty day moving average price of $81.32 and a 200 day moving average price of $119.73. The company has a market cap of $3.50 billion, a P/E ratio of 7.08 and a beta of 1.41. Abercrombie & Fitch Co. has a one year low of $65.40 and a one year high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results 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 business had revenue of $1.58 billion during 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 quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.97 earnings per share. As a group, sell-side analysts predict that Abercrombie & Fitch Co. will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch announced that its board has approved a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in 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 usually an indication that the company’s board believes its shares are undervalued.

Abercrombie & Fitch 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.