Governors Lane LP Sells 38,300 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

Governors Lane LP cut its holdings in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) by 48.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,300 shares of the apparel retailer's stock after selling 38,300 shares during the quarter. Governors Lane LP owned 0.08% of Abercrombie & Fitch worth $6,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its position in shares of Abercrombie & Fitch by 150.7% in the fourth quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer's stock valued at $221,910,000 after purchasing an additional 892,492 shares in the last quarter. Norges Bank purchased a new position in Abercrombie & Fitch in the fourth quarter valued at $88,478,000. Wellington Management Group LLP lifted its stake in Abercrombie & Fitch by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer's stock worth $183,829,000 after acquiring an additional 212,155 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Abercrombie & Fitch during the 4th quarter worth approximately $31,371,000. Finally, Boston Partners acquired a new position in Abercrombie & Fitch during the 4th quarter worth approximately $28,327,000.

Abercrombie & Fitch Stock Performance

Shares of NYSE:ANF traded up $2.10 during midday trading on Tuesday, hitting $80.27. 193,975 shares of the company's stock traded hands, compared to its average volume of 2,015,289. The firm's fifty day moving average price is $74.98 and its two-hundred day moving average price is $113.05. The company has a market cap of $3.82 billion, a PE ratio of 7.92 and a beta of 1.47. Abercrombie & Fitch Co. has a twelve month low of $65.40 and a twelve month high of $196.99.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, topping 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 quarter in the previous year, the company posted $2.97 earnings per share. The firm's revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Abercrombie & Fitch Co. will post 10.62 EPS for the current fiscal year.

Abercrombie & Fitch declared that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that allows the company to buyback $1.30 billion in shares. This buyback authorization allows the apparel retailer to buy up to 29.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

ANF has been the topic of a number of research reports. Citigroup lowered their target price on shares of Abercrombie & Fitch from $135.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered Abercrombie & Fitch from a "buy" rating to a "hold" rating in a report on Sunday, March 9th. Barclays began coverage on Abercrombie & Fitch in a report on Monday, April 21st. They set an "equal weight" rating and a $71.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Abercrombie & Fitch from $168.00 to $155.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Raymond James set a $110.00 price objective on Abercrombie & Fitch in a report on Thursday, March 6th. Four equities 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 an average rating of "Moderate Buy" and an average price target of $119.63.

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.