Caitong International Asset Management Co. Ltd Acquires 2,862 Shares of Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Abercrombie & Fitch by 394.2% during Q1, acquiring an additional 2,862 shares, bringing its total holdings to 3,588 shares valued at $274,000.
• Analysts are optimistic about Abercrombie & Fitch’s growth potential, with target prices ranging from $84.00 to $151.00, and a consensus rating of "Moderate Buy".
• Abercrombie & Fitch reported earnings of $1.59 per share for the latest quarter, surpassing estimates and showing a 7.5% increase in revenue year-over-year.

Caitong International Asset Management Co. Ltd boosted its position in Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 394.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,588 shares of the apparel retailer's stock after buying an additional 2,862 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Abercrombie & Fitch were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP boosted its position in Abercrombie & Fitch by 12.6% during the fourth quarter. Marshall Wace LLP now owns 1,037,773 shares of the apparel retailer's stock worth $155,116,000 after purchasing an additional 115,758 shares in the last quarter. Northern Trust Corp increased its stake in shares of Abercrombie & Fitch by 24.7% in the 4th quarter. Northern Trust Corp now owns 745,723 shares of the apparel retailer's stock valued at $111,463,000 after buying an additional 147,779 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Abercrombie & Fitch in the first quarter valued at about $56,569,000. AQR Capital Management LLC lifted its position in shares of Abercrombie & Fitch by 0.7% in the fourth quarter. AQR Capital Management LLC now owns 655,857 shares of the apparel retailer's stock valued at $98,031,000 after buying an additional 4,382 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Abercrombie & Fitch by 0.8% in the 1st quarter. Jupiter Asset Management Ltd. now owns 621,234 shares of the apparel retailer's stock valued at $47,444,000 after purchasing an additional 5,006 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ANF shares. Barclays set a $84.00 target price on shares of Abercrombie & Fitch and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Citigroup reiterated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Telsey Advisory Group reissued an "outperform" rating and issued a $125.00 price target on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. JPMorgan Chase & Co. increased their price objective on Abercrombie & Fitch from $141.00 to $151.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Raymond James Financial decreased their target price 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. Three analysts have rated the stock with a hold rating and six have given 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 $111.88.

Abercrombie & Fitch Stock Up 1.7%

Shares of ANF opened at $101.77 on Wednesday. The company has a 50 day moving average of $88.42 and a 200-day moving average of $86.65. Abercrombie & Fitch Company has a twelve month low of $65.40 and a twelve month high of $172.90. The stock has a market capitalization of $4.85 billion, a P/E ratio of 10.02 and a beta of 1.54.

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, beating analysts' consensus estimates of $1.35 by $0.24. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted $2.14 EPS. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch 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.

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