Harvest Fund Management Co. Ltd Increases Stock Holdings in Abercrombie & Fitch Co. (NYSE:ANF)

Harvest Fund Management Co. Ltd raised its stake in Abercrombie & Fitch Co. (NYSE:ANF) by 127,760.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,393 shares of the apparel retailer’s stock after purchasing an additional 6,388 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Abercrombie & Fitch were worth $954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ANF. Geode Capital Management LLC boosted its stake in shares of Abercrombie & Fitch by 5.5% in the third quarter. Geode Capital Management LLC now owns 1,221,890 shares of the apparel retailer’s stock valued at $171,815,000 after buying an additional 63,157 shares in the last quarter. Wellington Management Group LLP grew its holdings in Abercrombie & Fitch by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock worth $142,379,000 after acquiring an additional 204,901 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Abercrombie & Fitch by 7.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer’s stock worth $121,733,000 after acquiring an additional 60,022 shares during the period. Fisher Asset Management LLC grew its holdings in Abercrombie & Fitch by 23.2% during the fourth quarter. Fisher Asset Management LLC now owns 701,798 shares of the apparel retailer’s stock worth $104,898,000 after acquiring an additional 131,970 shares during the period. Finally, Jupiter Asset Management Ltd. grew its holdings in Abercrombie & Fitch by 1.5% during the fourth quarter. Jupiter Asset Management Ltd. now owns 616,228 shares of the apparel retailer’s stock worth $92,108,000 after acquiring an additional 9,248 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group dropped their price objective on Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Telsey Advisory Group decreased their target price 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. StockNews.com downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. Morgan Stanley decreased their target price on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Finally, Citigroup decreased their target price 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.88.

Abercrombie & Fitch Trading Down 0.2 %

NYSE ANF opened at $82.44 on Friday. The business’s 50-day moving average price is $107.79 and its 200 day moving average price is $132.03. Abercrombie & Fitch Co. has a twelve month low of $74.31 and a twelve month high of $196.99. The company has a market capitalization of $4.15 billion, a PE ratio of 8.15 and a beta of 1.45.

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

Abercrombie & Fitch declared that its board has authorized a stock buyback program on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management 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.