Comerica Bank Sells 35,689 Shares of Abercrombie & Fitch Company $ANF

Key Points

• Comerica Bank reduced its holdings in Abercrombie & Fitch by 37.9% in Q1 2024, owning 58,578 shares valued at $4.47 million after selling 35,689 shares.
• Abercrombie & Fitch's stock has received positive ratings from analysts, with a consensus price target of $115.25 and multiple reports highlighting growth potential.
• The company recently reported a 6.6% increase in revenue year-over-year, with earnings per share of $2.32 surpassing analysts' expectations.

Comerica Bank lessened its position in Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 37.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,578 shares of the apparel retailer's stock after selling 35,689 shares during the period. Comerica Bank owned about 0.12% of Abercrombie & Fitch worth $4,474,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. American Century Companies Inc. raised its holdings in Abercrombie & Fitch by 18.5% during the 1st quarter. American Century Companies Inc. now owns 806,980 shares of the apparel retailer's stock worth $61,629,000 after purchasing an additional 126,050 shares during the last quarter. Northern Trust Corp raised its stake in shares of Abercrombie & Fitch by 24.7% during the 4th quarter. Northern Trust Corp now owns 745,723 shares of the apparel retailer's stock worth $111,463,000 after purchasing an additional 147,779 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Abercrombie & Fitch in the 1st quarter valued at $56,569,000. Jupiter Asset Management Ltd. lifted its holdings in Abercrombie & Fitch by 0.8% during 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 during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Abercrombie & Fitch by 6.4% during the 4th quarter. Nuveen Asset Management LLC now owns 552,374 shares of the apparel retailer's stock worth $82,563,000 after buying an additional 33,309 shares during the period.

Abercrombie & Fitch Trading Up 1.3%

Shares of ANF stock traded up $1.23 during trading hours on Wednesday, reaching $93.16. The company's stock had a trading volume of 851,223 shares, compared to its average volume of 2,440,127. The stock has a market capitalization of $4.44 billion, a P/E ratio of 8.79 and a beta of 1.44. Abercrombie & Fitch Company has a one year low of $65.40 and a one year high of $167.71. The firm's fifty day simple moving average is $93.69 and its 200 day simple moving average is $84.57.

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

Analysts Set New Price Targets

A number of research analysts recently commented on ANF shares. Morgan Stanley set a $93.00 price target on Abercrombie & Fitch in a research report on Thursday, August 28th. Raymond James Financial set a $105.00 target price on Abercrombie & Fitch and gave the stock an "outperform" rating in a report on Thursday, August 28th. Citigroup reaffirmed a "neutral" rating and set a $105.00 target price on shares of Abercrombie & Fitch in a research report on Wednesday, August 20th. UBS Group reissued a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Abercrombie & Fitch from $151.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Abercrombie & Fitch currently has a consensus rating of "Moderate Buy" and an average target price of $115.25.

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.