Vanguard Group Inc. Has $428.40 Million Stock Position in Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Vanguard Group Inc. has reduced its stake in Abercrombie & Fitch by 2.5%, now holding approximately 11.78% of the company, equating to about $428 million.
• Abercrombie & Fitch reported earnings of $1.59 EPS for the last quarter, surpassing estimates and showing a 7.5% revenue increase year-over-year.
• JPMorgan Chase & Co. upgraded its target price for Abercrombie & Fitch from $141 to $151, reflecting a generally positive outlook among analysts, with a consensus rating of "Moderate Buy".

Vanguard Group Inc. reduced its stake in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,609,512 shares of the apparel retailer's stock after selling 146,180 shares during the quarter. Vanguard Group Inc. owned 11.78% of Abercrombie & Fitch worth $428,398,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ANF. GeoWealth Management LLC bought a new stake in shares of Abercrombie & Fitch in the 4th quarter worth $70,000. UMB Bank n.a. raised its holdings in shares of Abercrombie & Fitch by 161.4% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer's stock worth $45,000 after buying an additional 360 shares in the last quarter. Versant Capital Management Inc increased its holdings in Abercrombie & Fitch by 55.6% during the 1st quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer's stock valued at $56,000 after purchasing an additional 260 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Abercrombie & Fitch by 166.7% in the 1st quarter. IFP Advisors Inc now owns 848 shares of the apparel retailer's stock valued at $65,000 after buying an additional 530 shares during the period. Finally, Reyes Financial Architecture Inc. increased its stake in Abercrombie & Fitch by 68.0% in the first quarter. Reyes Financial Architecture Inc. now owns 904 shares of the apparel retailer's stock valued at $69,000 after purchasing an additional 366 shares in the last quarter.

Analyst Upgrades and Downgrades

ANF has been the subject of several recent research reports. Telsey Advisory Group reissued an "outperform" rating and set a $125.00 price target on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Barclays set a $84.00 price objective on shares of Abercrombie & Fitch and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Raymond James Financial decreased their price target on shares of Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Jefferies Financial Group dropped their price objective on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Abercrombie & Fitch from $141.00 to $151.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $111.88.

Abercrombie & Fitch Trading Down 3.5%

ANF stock traded down $3.40 on Friday, hitting $93.92. The company's stock had a trading volume of 2,570,553 shares, compared to its average volume of 1,858,215. The firm has a 50 day moving average of $89.50 and a two-hundred day moving average of $85.90. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 9.24 and a beta of 1.54. Abercrombie & Fitch Company has a 1 year low of $65.40 and a 1 year high of $172.90.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 EPS for the quarter, beating the consensus estimate of $1.35 by $0.24. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. Abercrombie & Fitch's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. As a group, equities analysts forecast 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.