Moran Wealth Management LLC Lowers Stock Position in Abercrombie & Fitch Company (NYSE:ANF)

Moran Wealth Management LLC lowered its stake in Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,590 shares of the apparel retailer's stock after selling 3,817 shares during the quarter. Moran Wealth Management LLC owned about 0.09% of Abercrombie & Fitch worth $3,482,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its position in Abercrombie & Fitch by 197.2% in 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. Deltec Asset Management LLC acquired a new position in Abercrombie & Fitch in the first quarter valued at about $2,345,000. North Growth Management Ltd. lifted its position in shares of Abercrombie & Fitch by 32.5% during the first quarter. North Growth Management Ltd. now owns 106,000 shares of the apparel retailer's stock worth $8,075,000 after purchasing an additional 26,000 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Abercrombie & Fitch by 4.8% during the first quarter. Retirement Systems of Alabama now owns 151,057 shares of the apparel retailer's stock worth $11,536,000 after purchasing an additional 6,982 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position 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 worth $536,000 after purchasing an additional 698 shares in the last quarter.

Abercrombie & Fitch Price Performance

Shares of ANF stock traded up $2.84 during trading hours on Friday, reaching $82.70. 2,999,777 shares of the stock were exchanged, compared to its average volume of 2,180,053. The business's fifty day moving average is $76.31 and its two-hundred day moving average is $97.87. Abercrombie & Fitch Company has a 12-month low of $65.40 and a 12-month high of $186.45. The firm has a market capitalization of $3.94 billion, a P/E ratio of 8.14 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released its earnings results on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.24. The firm had revenue of $1.10 billion for 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 earnings per share. As a group, equities research analysts predict that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch declared that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANF. Morgan Stanley increased their price target on shares of Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Wall Street Zen cut shares of Abercrombie & Fitch from a "buy" rating to a "hold" rating in a research report on Sunday, March 9th. Jefferies Financial Group reduced their price target 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. UBS Group reissued a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Finally, Citigroup reissued a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.63.

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.