Ameriprise Financial Inc. Raises Position in Abercrombie & Fitch Co. (NYSE:ANF)

Ameriprise Financial Inc. raised its stake in Abercrombie & Fitch Co. (NYSE:ANF - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,099 shares of the apparel retailer's stock after purchasing an additional 30,091 shares during the quarter. Ameriprise Financial Inc. owned 0.56% of Abercrombie & Fitch worth $42,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ANF. Franklin Resources Inc. raised its stake in shares of Abercrombie & Fitch by 2.1% in the third quarter. Franklin Resources Inc. now owns 48,338 shares of the apparel retailer's stock worth $6,762,000 after purchasing an additional 976 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Abercrombie & Fitch by 10.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,482 shares of the apparel retailer's stock worth $819,000 after purchasing an additional 519 shares during the last quarter. Gateway Investment Advisers LLC purchased a new stake in shares of Abercrombie & Fitch in the fourth quarter worth approximately $2,539,000. Wedge Capital Management L L P NC raised its stake in shares of Abercrombie & Fitch by 3.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 374,061 shares of the apparel retailer's stock worth $55,911,000 after purchasing an additional 11,582 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Abercrombie & Fitch by 92.2% during 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 last quarter.

Abercrombie & Fitch Price Performance

NYSE:ANF opened at $73.20 on Monday. The business has a fifty day simple moving average of $75.16 and a two-hundred day simple moving average of $113.49. Abercrombie & Fitch Co. has a 1 year low of $65.40 and a 1 year high of $196.99. The company has a market capitalization of $3.49 billion, a P/E ratio of 7.24 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last posted its quarterly earnings results 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 return on equity of 46.50% and a net margin of 11.16%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $2.97 earnings per share. The business's revenue for the quarter 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 year.

Abercrombie & Fitch declared that its board has approved a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

ANF has been the subject of a number of research analyst reports. Barclays initiated coverage on Abercrombie & Fitch in a research report on Monday, April 21st. They set an "equal weight" rating and a $71.00 price target for the company. Jefferies Financial Group decreased their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley decreased their price target on Abercrombie & Fitch from $114.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Telsey Advisory Group decreased their price target on Abercrombie & Fitch from $190.00 to $125.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Abercrombie & Fitch presently has a consensus 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.

Want to see what other hedge funds are holding ANF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abercrombie & Fitch Co. (NYSE:ANF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.