Abercrombie & Fitch Co. (NYSE:ANF) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,246 shares of the apparel retailer’s stock after selling 21,674 shares during the quarter. Bank of America Corp DE owned approximately 0.22% of Abercrombie & Fitch worth $16,329,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ANF. UMB Bank n.a. boosted its position in shares of Abercrombie & Fitch by 92.2% in the fourth quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after buying an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Abercrombie & Fitch by 40.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 11,187 shares of the apparel retailer’s stock worth $1,672,000 after purchasing an additional 3,194 shares during the last quarter. Lmcg Investments LLC boosted its holdings in shares of Abercrombie & Fitch by 11.2% in the 4th quarter. Lmcg Investments LLC now owns 24,669 shares of the apparel retailer’s stock valued at $3,687,000 after buying an additional 2,479 shares during the period. Capricorn Fund Managers Ltd bought a new position in shares of Abercrombie & Fitch during the fourth quarter valued at approximately $2,320,000. Finally, Janney Montgomery Scott LLC increased its position in Abercrombie & Fitch by 96.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,827 shares of the apparel retailer’s stock worth $3,412,000 after buying an additional 11,208 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ANF. Jefferies Financial Group cut their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Citigroup cut their price objective on Abercrombie & Fitch from $135.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. UBS Group lifted their target price on shares of Abercrombie & Fitch from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday. Telsey Advisory Group dropped 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. Finally, Raymond James set a $110.00 target price on shares of Abercrombie & Fitch in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.50.

Abercrombie & Fitch Stock Performance

ANF opened at $76.64 on Wednesday. Abercrombie & Fitch Co. has a twelve month low of $65.40 and a twelve month high of $196.99. The firm has a market cap of $3.65 billion, a P/E ratio of 7.58 and a beta of 1.47. The business has a 50 day moving average price of $74.90 and a 200 day moving average price of $110.87.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $2.97 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its board has authorized a share buyback 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 buy up to 29.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Abercrombie & Fitch

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.