Federated Hermes Inc. Cuts Holdings in Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Federated Hermes Inc. significantly reduced its holdings in Abercrombie & Fitch by 72.4%, now owning approximately 32,271 shares worth about $2.47 million.
• Other institutional investors, including Invesco Ltd. and Pacer Advisors Inc., have notably increased their stakes in Abercrombie & Fitch, with Pacer Advisors boosting their holdings by 3,113.1%.
• Abercrombie & Fitch reported a quarterly EPS of $1.59, exceeding expectations, and a 7.5% year-over-year increase in revenue, drawing positive attention from analysts.

Federated Hermes Inc. cut its holdings in Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 72.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,271 shares of the apparel retailer's stock after selling 84,714 shares during the period. Federated Hermes Inc. owned about 0.07% of Abercrombie & Fitch worth $2,465,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 price target on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Raymond James Financial cut 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 report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their target price on shares of Abercrombie & Fitch from $141.00 to $151.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. UBS Group restated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Finally, Citigroup reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $111.88.

Abercrombie & Fitch Stock Down 0.3%

NYSE:ANF traded down $0.35 during mid-day trading on Friday, hitting $103.01. 1,317,575 shares of the stock traded hands, compared to its average volume of 1,854,896. The business's 50-day moving average price is $87.49 and its 200 day moving average price is $87.25. The company has a market cap of $4.91 billion, a PE ratio of 10.14 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.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.24. The firm had revenue of $1.10 billion during 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%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 EPS. Analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal 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.