Envestnet Asset Management Inc. Reduces Position in Abercrombie & Fitch Company (NYSE:ANF)

Envestnet Asset Management Inc. lessened its stake in shares of Abercrombie & Fitch Company (NYSE:ANF) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,509 shares of the apparel retailer’s stock after selling 751 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Abercrombie & Fitch worth $2,941,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ANF. Invesco Ltd. grew its position in Abercrombie & Fitch by 150.7% during the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer’s stock worth $221,910,000 after purchasing an additional 892,492 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Abercrombie & Fitch during the 1st quarter worth approximately $56,569,000. Norges Bank purchased a new stake in Abercrombie & Fitch during the 4th quarter worth approximately $88,478,000. Wellington Management Group LLP grew its position in Abercrombie & Fitch by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer’s stock worth $183,829,000 after purchasing an additional 212,155 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Abercrombie & Fitch during the 4th quarter worth approximately $31,371,000.

Abercrombie & Fitch Price Performance

Shares of NYSE ANF opened at $92.25 on Monday. The firm’s 50 day simple moving average is $83.22 and its 200-day simple moving average is $89.05. Abercrombie & Fitch Company has a 12 month low of $65.40 and a 12 month high of $172.90. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 9.08 and a beta of 1.46.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.24. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business posted $2.14 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. Analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ANF shares. JPMorgan Chase & Co. cut their price target on shares of Abercrombie & Fitch from $147.00 to $141.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Telsey Advisory Group reiterated an “outperform” rating and issued a $125.00 price target on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. UBS Group reiterated a “buy” rating on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. Barclays set a $84.00 price target on shares of Abercrombie & Fitch and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Finally, Jefferies Financial Group cut their price target on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and an average target price of $110.63.

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.