Fred Alger Management LLC Takes Position in Abercrombie & Fitch Company $ANF

Key Points

• Fred Alger Management LLC acquired 19,147 shares of Abercrombie & Fitch, valued at approximately $1.46 million, during the 1st quarter.
• Several institutional investors have increased their stakes in Abercrombie & Fitch, including BNP Paribas and Deutsche Bank AG, with significant percentage increases in their holdings.
• Insider transactions included Director James A. Goldman selling 5,072 shares, reducing his ownership by 40.14%, while insider selling has totaled nearly $759,233 over the last quarter.

Fred Alger Management LLC purchased a new position in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,147 shares of the apparel retailer's stock, valued at approximately $1,462,000.

A number of other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC grew its position in Abercrombie & Fitch by 198.2% in the 1st quarter. AQR Capital Management LLC now owns 1,955,927 shares of the apparel retailer's stock worth $144,582,000 after purchasing an additional 1,300,070 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Abercrombie & Fitch in the 1st quarter valued at approximately $56,569,000. Pacer Advisors Inc. increased its stake in Abercrombie & Fitch by 3,113.1% in the 1st quarter. Pacer Advisors Inc. now owns 506,088 shares of the apparel retailer's stock valued at $38,650,000 after buying an additional 490,337 shares during the period. Nuveen LLC acquired a new position in shares of Abercrombie & Fitch during the 1st quarter worth $32,924,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Abercrombie & Fitch by 369.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 206,777 shares of the apparel retailer's stock worth $15,792,000 after purchasing an additional 162,744 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ANF shares. UBS Group reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 price objective on shares of Abercrombie & Fitch in a research report on Friday. Barclays set a $84.00 price target on shares of Abercrombie & Fitch and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price target on shares of Abercrombie & Fitch from $151.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, August 28th. Finally, Raymond James Financial set a $105.00 price objective on shares of Abercrombie & Fitch and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.25.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, Director Kenneth B. Robinson sold 1,392 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $94.60, for a total transaction of $131,683.20. Following the sale, the director owned 5,880 shares in the company, valued at approximately $556,248. The trade was a 19.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jay Rust sold 1,500 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $93.15, for a total value of $139,725.00. Following the completion of the transaction, the executive vice president directly owned 6,648 shares of the company's stock, valued at $619,261.20. The trade was a 18.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,964 shares of company stock valued at $759,233. 2.29% of the stock is owned by company insiders.

Abercrombie & Fitch Trading Down 7.0%

Shares of ANF traded down $6.60 during trading hours on Friday, reaching $87.64. The stock had a trading volume of 2,994,308 shares, compared to its average volume of 2,065,313. The firm has a 50-day simple moving average of $94.96 and a 200 day simple moving average of $84.11. Abercrombie & Fitch Company has a 12 month low of $65.40 and a 12 month high of $167.71. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 8.29 and a beta of 1.44.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last posted its earnings results on Wednesday, August 27th. The apparel retailer reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.05. Abercrombie & Fitch had a return on equity of 40.02% and a net margin of 10.61%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $2.50 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Abercrombie & Fitch has set its FY 2025 guidance at 10.000-10.500 EPS. Q3 2025 guidance at 2.050-2.250 EPS. On average, equities analysts forecast that Abercrombie & Fitch Company will post 10.62 EPS for the current year.

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.