Federated Hermes Inc. Cuts Stock 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. decreased its stake in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 72.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,271 shares of the apparel retailer's stock after selling 84,714 shares during the quarter. 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 bought and sold shares of ANF. Cambridge Investment Research Advisors Inc. grew its stake in shares of Abercrombie & Fitch by 197.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,647 shares of the apparel retailer's stock valued at $1,119,000 after buying an additional 9,719 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Abercrombie & Fitch by 11.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,013 shares of the apparel retailer's stock valued at $536,000 after purchasing an additional 698 shares during the period. GAMMA Investing LLC increased its stake in Abercrombie & Fitch by 81.5% in the 1st quarter. GAMMA Investing LLC now owns 1,917 shares of the apparel retailer's stock worth $146,000 after buying an additional 861 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Abercrombie & Fitch during the 1st quarter valued at about $144,000. Finally, LPL Financial LLC boosted its position in Abercrombie & Fitch by 16.7% in the 4th quarter. LPL Financial LLC now owns 15,614 shares of the apparel retailer's stock valued at $2,334,000 after buying an additional 2,235 shares during the period.

Analysts Set New Price Targets

ANF has been the subject of several research analyst reports. Barclays set a $84.00 price target on shares of Abercrombie & Fitch and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 price objective on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. JPMorgan Chase & Co. increased their target price on shares of Abercrombie & Fitch from $141.00 to $151.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Jefferies Financial Group cut their target price on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Finally, Citigroup reaffirmed a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $111.88.

Abercrombie & Fitch Trading Up 0.2%

Shares of ANF traded up $0.25 during midday trading on Thursday, hitting $103.42. 1,456,554 shares of the company's stock traded hands, compared to its average volume of 1,880,078. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 10.15 and a beta of 1.54. Abercrombie & Fitch Company has a 1 year low of $65.40 and a 1 year high of $172.90. The firm's fifty day moving average is $86.59 and its 200-day moving average is $87.59.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.24. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. Abercrombie & Fitch's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. On average, equities research analysts anticipate that Abercrombie & Fitch Company will post 10.62 EPS for the current year.

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.