Panagora Asset Management Inc. Decreases Position in Abercrombie & Fitch Company $ANF

Key Points

• Panagora Asset Management Inc. reduced its stake in Abercrombie & Fitch by 37.3%, selling over 61,000 shares, and now owns about 0.22% of the company valued at approximately $7.88 million.
• Abercrombie & Fitch reported a Q2 EPS of $2.32, exceeding estimates, with revenues of $1.21 billion, marking a 6.6% year-over-year increase.
• Analysts set a consensus target price of $115.25 for Abercrombie & Fitch, with five analysts giving it a Buy rating and three an Equal Weight rating.

Panagora Asset Management Inc. trimmed its stake in Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,222 shares of the apparel retailer's stock after selling 61,406 shares during the period. Panagora Asset Management Inc. owned 0.22% of Abercrombie & Fitch worth $7,883,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ANF. UMB Bank n.a. increased its position in shares of Abercrombie & Fitch by 161.4% during the first quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer's stock worth $45,000 after purchasing an additional 360 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Abercrombie & Fitch by 55.6% during the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer's stock worth $56,000 after purchasing an additional 260 shares in the last quarter. IFP Advisors Inc increased its position in shares of Abercrombie & Fitch by 166.7% during the first quarter. IFP Advisors Inc now owns 848 shares of the apparel retailer's stock worth $65,000 after purchasing an additional 530 shares in the last quarter. Reyes Financial Architecture Inc. increased its position in shares of Abercrombie & Fitch by 68.0% during the first quarter. Reyes Financial Architecture Inc. now owns 904 shares of the apparel retailer's stock worth $69,000 after purchasing an additional 366 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Abercrombie & Fitch during the first quarter worth $76,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ANF. UBS Group reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Citigroup reaffirmed a "neutral" rating and set a $105.00 price target on shares of Abercrombie & Fitch in a research report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price target on Abercrombie & Fitch from $151.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, August 28th. Morgan Stanley set a $93.00 price target on Abercrombie & Fitch in a research report on Thursday, August 28th. Finally, Barclays set a $84.00 price objective on shares of Abercrombie & Fitch and gave the company an "equal weight" rating in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $115.25.

Insider Activity

In other news, EVP Jay Rust sold 1,500 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $93.15, for a total transaction of $139,725.00. Following the sale, the executive vice president directly owned 6,648 shares of the company's stock, valued at $619,261.20. This represents a 18.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James A. Goldman sold 5,072 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $96.18, for a total transaction of $487,824.96. Following the sale, the director directly owned 7,565 shares in the company, valued at approximately $727,601.70. The trade was a 40.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.29% of the company's stock.

Abercrombie & Fitch Price Performance

NYSE:ANF traded up $1.80 during mid-day trading on Friday, hitting $95.28. The company's stock had a trading volume of 1,661,672 shares, compared to its average volume of 2,101,159. Abercrombie & Fitch Company has a 1 year low of $65.40 and a 1 year high of $167.71. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 9.01 and a beta of 1.44. The business's fifty day moving average is $94.46 and its two-hundred day moving average is $84.40.

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