Vestcor Inc Sells 13,399 Shares of Abercrombie & Fitch Company (NYSE:ANF)

Key Points

• Vestcor Inc has reduced its holdings in Abercrombie & Fitch by 35.0%, now owning approximately 24,919 shares valued at around $1.9 million.
• Invesco Ltd. significantly increased its stake in Abercrombie & Fitch by 150.7%, now possessing 1.48 million shares worth about $221.9 million.
• Abercrombie & Fitch reported earnings per share of $1.59 for the last quarter, exceeding analyst expectations of $1.35, with revenue of $1.10 billion.

Vestcor Inc decreased its position in shares of Abercrombie & Fitch Company (NYSE:ANF - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,919 shares of the apparel retailer's stock after selling 13,399 shares during the period. Vestcor Inc owned about 0.05% of Abercrombie & Fitch worth $1,903,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. increased its position in Abercrombie & Fitch by 150.7% during the 4th quarter. Invesco Ltd. now owns 1,484,643 shares of the apparel retailer's stock worth $221,910,000 after purchasing an additional 892,492 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Abercrombie & Fitch in the 1st quarter valued at approximately $56,569,000. Norges Bank acquired a new position in shares of Abercrombie & Fitch in the 4th quarter valued at approximately $88,478,000. Pacer Advisors Inc. raised its holdings 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 acquiring an additional 490,337 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Abercrombie & Fitch by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 1,229,875 shares of the apparel retailer's stock valued at $183,829,000 after acquiring an additional 212,155 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group restated a "buy" rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Raymond James Financial dropped their target price on shares of Abercrombie & Fitch from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, May 27th. Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 price objective on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of Abercrombie & Fitch from $141.00 to $151.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Morgan Stanley increased their price target on Abercrombie & Fitch from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Three 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, Abercrombie & Fitch currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.88.

Abercrombie & Fitch Trading Up 0.8%

NYSE:ANF traded up $0.77 on Tuesday, hitting $99.88. 847,907 shares of the company's stock traded hands, compared to its average volume of 2,470,694. The firm has a 50-day moving average price of $85.84 and a 200-day moving average price of $87.40. Abercrombie & Fitch Company has a 1 year low of $65.40 and a 1 year high of $172.90. The company has a market cap of $4.76 billion, a PE ratio of 9.83 and a beta of 1.54.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last released 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. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Abercrombie & Fitch had a return on equity of 42.32% and a net margin of 10.60%. The firm's revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 EPS. On average, research analysts forecast 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.