Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired $8.85 million worth of Abercrombie & Fitch Company (NYSE:ANF) shares, totaling 115,890 shares, which represents 0.24% ownership.
• Various hedge funds are increasing their stakes in Abercrombie & Fitch, with UMB Bank n.a. raising its holdings by 161.4% in the first quarter.
• Analyst ratings for Abercrombie & Fitch show a mix of opinions, with price targets ranging from $84.00 to $151.00 and an average rating of "Moderate Buy."

Connor Clark & Lunn Investment Management Ltd. bought a new position in Abercrombie & Fitch Company (NYSE:ANF - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 115,890 shares of the apparel retailer's stock, valued at approximately $8,851,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of Abercrombie & Fitch at the end of the most recent reporting period.

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

Abercrombie & Fitch Stock Down 3.6%

ANF stock traded down $3.46 during trading hours on Friday, hitting $93.86. The company's stock had a trading volume of 1,300,745 shares, compared to its average volume of 2,434,579. The company has a market capitalization of $4.47 billion, a PE ratio of 9.22 and a beta of 1.54. Abercrombie & Fitch Company has a 12 month low of $65.40 and a 12 month high of $172.90. The stock has a 50 day moving average price of $89.29 and a two-hundred day moving average price of $86.60.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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 report on Monday, July 28th. Morgan Stanley upped their price objective on shares of Abercrombie & Fitch from $78.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Barclays set a $84.00 price objective on shares of Abercrombie & Fitch and gave the company an "equal weight" rating in a research note on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $125.00 price objective 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 given a buy rating to the company. According to data from MarketBeat, Abercrombie & Fitch currently has an average rating of "Moderate Buy" and a consensus target price of $111.88.

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.