Hsbc Holdings PLC Has $2.94 Million Stake in Abercrombie & Fitch Company $ANF

Key Points

• Hsbc Holdings PLC increased its stake in Abercrombie & Fitch by 62.1%, owning 38,885 shares worth approximately $2.94 million after acquiring an additional 14,894 shares in the first quarter.
• Multiple hedge funds have recently invested in Abercrombie & Fitch, with notable purchases including Pacer Advisors, which increased its holdings by 3,113.1% and now owns 506,088 shares.
• Analysts remain optimistic, with several recent price targets set for Abercrombie & Fitch, including a lift from Morgan Stanley to $82.00 and an "overweight" rating from JPMorgan with a target of $151.00.

Hsbc Holdings PLC lifted its holdings in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 62.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,885 shares of the apparel retailer's stock after purchasing an additional 14,894 shares during the quarter. Hsbc Holdings PLC owned 0.08% of Abercrombie & Fitch worth $2,944,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ANF. Assenagon Asset Management S.A. acquired a new stake in shares of Abercrombie & Fitch during the 1st quarter worth approximately $56,569,000. Pacer Advisors Inc. boosted its position in Abercrombie & Fitch by 3,113.1% in the first quarter. Pacer Advisors Inc. now owns 506,088 shares of the apparel retailer's stock valued at $38,650,000 after buying an additional 490,337 shares in the last quarter. Nuveen LLC acquired a new stake in Abercrombie & Fitch in the first quarter valued at approximately $32,924,000. The Manufacturers Life Insurance Company boosted its position in Abercrombie & Fitch by 306.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 237,882 shares of the apparel retailer's stock valued at $35,556,000 after buying an additional 179,419 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Abercrombie & Fitch by 24.7% in the fourth quarter. Northern Trust Corp now owns 745,723 shares of the apparel retailer's stock valued at $111,463,000 after buying an additional 147,779 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on ANF. UBS Group restated a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. JPMorgan Chase & Co. cut 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 report on Thursday. Citigroup restated a "neutral" rating and issued a $105.00 target price on shares of Abercrombie & Fitch in a research report on Wednesday, August 20th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $125.00 price target on shares of Abercrombie & Fitch in a research note on Wednesday. Finally, Jefferies Financial Group dropped their price target on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.25.

Abercrombie & Fitch Price Performance

NYSE ANF traded down $2.97 during mid-day trading on Friday, reaching $93.55. 2,190,525 shares of the stock were exchanged, compared to its average volume of 2,246,682. The stock has a market cap of $4.46 billion, a P/E ratio of 8.85 and a beta of 1.54. Abercrombie & Fitch Company has a one year low of $65.40 and a one year high of $167.71. The stock has a 50 day simple moving average of $93.11 and a 200-day simple moving average of $84.82.

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