PNC Financial Services Group Inc. Sells 2,536 Shares of Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• PNC Financial Services Group Inc. has reduced its stake in Abercrombie & Fitch by 26.5%, selling 2,536 shares during the first quarter, leaving them with 7,031 shares valued at approximately $537,000.
• Abercrombie & Fitch reported $1.59 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.35, with a total revenue of $1.10 billion, up 7.5% year-over-year.
• Analyst ratings for Abercrombie & Fitch vary, with three holding a "hold" rating and six giving a "buy" rating, leading to an average price target of $111.88.

PNC Financial Services Group Inc. lowered its stake in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 26.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,031 shares of the apparel retailer's stock after selling 2,536 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Abercrombie & Fitch were worth $537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtue Capital Management LLC grew its stake in Abercrombie & Fitch by 1.3% in the 4th quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer's stock valued at $1,229,000 after buying an additional 102 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Abercrombie & Fitch by 2.0% during the fourth quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer's stock valued at $816,000 after acquiring an additional 108 shares during the period. Alpha DNA Investment Management LLC grew its position in shares of Abercrombie & Fitch by 7.0% in the fourth quarter. Alpha DNA Investment Management LLC now owns 3,857 shares of the apparel retailer's stock valued at $577,000 after purchasing an additional 253 shares during the last quarter. Versant Capital Management Inc grew its position in shares of 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. Finally, UMB Bank n.a. increased its stake in shares of Abercrombie & Fitch by 161.4% in the first quarter. UMB Bank n.a. now owns 583 shares of the apparel retailer's stock worth $45,000 after purchasing an additional 360 shares during the period.

Abercrombie & Fitch Trading Down 0.2%

Shares of NYSE ANF opened at $101.39 on Thursday. Abercrombie & Fitch Company has a 1 year low of $65.40 and a 1 year high of $172.90. The firm's 50-day moving average is $88.93 and its 200-day moving average is $86.75. The firm has a market capitalization of $4.83 billion, a PE ratio of 9.98 and a beta of 1.54.

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 return on equity of 42.32% and a net margin of 10.60%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company earned $2.14 EPS. The firm's revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ANF. Citigroup reissued a "buy" rating on shares of Abercrombie & Fitch in a research report on Wednesday, May 28th. Raymond James Financial reduced their price target on shares of Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, May 27th. Jefferies Financial Group dropped their price objective on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Barclays set a $84.00 price objective on Abercrombie & Fitch and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, UBS Group reiterated 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $111.88.

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.

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