Jupiter Asset Management Ltd. Grows Position in Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Jupiter Asset Management Ltd. increased its holdings in Abercrombie & Fitch Company by 0.8%, owning 621,234 shares valued at approximately $47.4 million after purchasing an additional 5,006 shares in the first quarter.
• Abercrombie & Fitch reported a net margin of 10.60% and earnings per share of $1.59 for the latest quarter, surpassing analysts' estimates of $1.35, with revenue rising 7.5% year-over-year.
• Several analysts have issued upgrades on Abercrombie & Fitch, with JPMorgan Chase raising its price target from $141 to $151, contributing to a consensus rating of "Moderate Buy" for the stock.

Jupiter Asset Management Ltd. increased its position in Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 621,234 shares of the apparel retailer's stock after buying an additional 5,006 shares during the quarter. Jupiter Asset Management Ltd. owned 1.30% of Abercrombie & Fitch worth $47,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Abercrombie & Fitch by 161.4% in the first quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer's stock valued at $45,000 after acquiring an additional 360 shares in the last quarter. Versant Capital Management Inc raised its position in Abercrombie & Fitch by 55.6% in the 1st quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer's stock worth $56,000 after buying an additional 260 shares during the last quarter. IFP Advisors Inc raised its position in Abercrombie & Fitch by 166.7% in the 1st quarter. IFP Advisors Inc now owns 848 shares of the apparel retailer's stock worth $65,000 after buying an additional 530 shares during the last quarter. Reyes Financial Architecture Inc. raised its position in Abercrombie & Fitch by 68.0% in the 1st quarter. Reyes Financial Architecture Inc. now owns 904 shares of the apparel retailer's stock worth $69,000 after buying an additional 366 shares during the last quarter. Finally, GeoWealth Management LLC purchased a new stake in shares of Abercrombie & Fitch during the 4th quarter valued at about $70,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ANF shares. Barclays set a $84.00 price target on shares of Abercrombie & Fitch and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Raymond James Financial cut their price objective on Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 price objective on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Jefferies Financial Group dropped their price target on Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Finally, UBS Group restated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Abercrombie & Fitch presently has an average rating of "Moderate Buy" and a consensus price target of $111.88.

Abercrombie & Fitch Stock Up 3.9%

ANF traded up $3.89 during trading on Wednesday, reaching $103.27. The company had a trading volume of 1,848,537 shares, compared to its average volume of 2,472,677. The stock has a market cap of $4.92 billion, a P/E ratio of 10.16 and a beta of 1.54. The business has a 50 day simple moving average of $86.30 and a 200-day simple moving average of $87.48. Abercrombie & Fitch Company has a 52 week low of $65.40 and a 52 week high of $172.90.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.24. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Abercrombie & Fitch had a return on equity of 42.32% and a net margin of 10.60%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $2.14 earnings per share. As a group, equities research analysts expect that Abercrombie & Fitch Company will post 10.62 EPS for the current fiscal year.

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.