Meeder Asset Management Inc. Lowers Stock Holdings in Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Meeder Asset Management Inc. has reduced its position in Abercrombie & Fitch by 28.1%, now holding 6,552 shares valued at approximately $500,000.
• Multiple hedge funds have increased their investments in Abercrombie & Fitch, with UMB Bank n.a. growing its holdings by 161.4%.
• Abercrombie & Fitch reported $1.59 EPS for the last quarter, exceeding analyst estimates, and is projected to have an average earnings per share of 10.62 for the current year.

Meeder Asset Management Inc. lowered its position in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 28.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,552 shares of the apparel retailer's stock after selling 2,555 shares during the period. Meeder Asset Management Inc.'s holdings in Abercrombie & Fitch were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANF. LPL Financial LLC grew its stake in shares of Abercrombie & Fitch by 16.7% during the fourth quarter. LPL Financial LLC now owns 15,614 shares of the apparel retailer's stock worth $2,334,000 after purchasing an additional 2,235 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Abercrombie & Fitch by 42.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,939 shares of the apparel retailer's stock valued at $3,728,000 after acquiring an additional 7,462 shares in the last quarter. Norges Bank acquired a new position in Abercrombie & Fitch in the fourth quarter valued at $88,478,000. Pictet Asset Management Holding SA boosted its stake in Abercrombie & Fitch by 6.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,031 shares of the apparel retailer's stock valued at $1,051,000 after acquiring an additional 429 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in Abercrombie & Fitch in the fourth quarter valued at $2,773,000.

Abercrombie & Fitch Trading Down 5.3%

Shares of ANF traded down $5.09 during mid-day trading on Friday, hitting $90.93. 2,593,590 shares of the company's stock were exchanged, compared to its average volume of 2,483,061. The firm has a market capitalization of $4.33 billion, a P/E ratio of 8.95 and a beta of 1.46. Abercrombie & Fitch Company has a fifty-two week low of $65.40 and a fifty-two week high of $172.90. The business's 50 day moving average is $84.97 and its two-hundred day moving average is $88.47.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ANF shares. JPMorgan Chase & Co. upped their price objective on shares of Abercrombie & Fitch from $141.00 to $151.00 and gave the company an "overweight" rating in a research note on Monday. UBS Group restated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Raymond James Financial decreased their price objective on shares of Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. 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. Finally, Morgan Stanley increased their target price on shares of Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.88.

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.