Cetera Investment Advisers Reduces Stock Holdings in Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Cetera Investment Advisers significantly reduced its holdings in Abercrombie & Fitch by 52.7% in the first quarter, owning only 28,867 shares valued at approximately $2.2 million after selling over 32,000 shares.
• Analyst ratings for Abercrombie & Fitch show a mixed sentiment, with a consensus rating of "Moderate Buy" and an average price target of $111.88, despite varying price targets from different analysts.
• Abercrombie & Fitch reported a 7.5% year-over-year revenue increase for the latest quarter, with earnings per share beating expectations at $1.59 compared to a consensus of $1.35.

Cetera Investment Advisers reduced its holdings in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 52.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 28,867 shares of the apparel retailer's stock after selling 32,138 shares during the period. Cetera Investment Advisers owned about 0.06% of Abercrombie & Fitch worth $2,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Abercrombie & Fitch by 197.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,647 shares of the apparel retailer's stock worth $1,119,000 after acquiring an additional 9,719 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Abercrombie & Fitch by 11.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,013 shares of the apparel retailer's stock worth $536,000 after acquiring an additional 698 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Abercrombie & Fitch by 81.5% during the 1st quarter. GAMMA Investing LLC now owns 1,917 shares of the apparel retailer's stock worth $146,000 after acquiring an additional 861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Abercrombie & Fitch during the 1st quarter worth approximately $144,000. Finally, LPL Financial LLC lifted its stake in shares of Abercrombie & Fitch by 16.7% during the 4th quarter. LPL Financial LLC now owns 15,614 shares of the apparel retailer's stock worth $2,334,000 after acquiring an additional 2,235 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Raymond James Financial decreased their target price on Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Barclays set a $84.00 target price on Abercrombie & Fitch and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Finally, Jefferies Financial Group decreased their target price on Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Abercrombie & Fitch presently has an average rating of "Moderate Buy" and a consensus price target of $111.88.

Abercrombie & Fitch Trading Up 2.1%

Shares of NYSE:ANF traded up $2.07 on Tuesday, reaching $102.19. The company had a trading volume of 403,130 shares, compared to its average volume of 2,442,531. Abercrombie & Fitch Company has a 52-week low of $65.40 and a 52-week high of $172.90. The firm's 50 day simple moving average is $87.93 and its 200-day simple moving average is $86.54. The firm has a market capitalization of $4.87 billion, a PE ratio of 10.07 and a beta of 1.54.

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