Freestone Grove Partners LP Invests $17.67 Million in Abercrombie & Fitch Co. (NYSE:ANF)

Freestone Grove Partners LP bought a new position in shares of Abercrombie & Fitch Co. (NYSE:ANF - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 118,188 shares of the apparel retailer's stock, valued at approximately $17,666,000. Freestone Grove Partners LP owned approximately 0.23% of Abercrombie & Fitch as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Abercrombie & Fitch during the fourth quarter worth approximately $27,000. UMB Bank n.a. grew its position in Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer's stock worth $33,000 after acquiring an additional 107 shares during the last quarter. Fifth Third Bancorp increased its holdings in Abercrombie & Fitch by 56.2% during the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer's stock valued at $55,000 after purchasing an additional 132 shares in the last quarter. Private Trust Co. NA raised its position in Abercrombie & Fitch by 30.9% in the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer's stock valued at $62,000 after purchasing an additional 98 shares during the last quarter. Finally, Parkside Financial Bank & Trust bought a new position in Abercrombie & Fitch in the 4th quarter valued at $69,000.

Analysts Set New Price Targets

ANF has been the subject of a number of research reports. Morgan Stanley lowered their target price on Abercrombie & Fitch from $149.00 to $139.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group lowered their price objective on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. UBS Group reduced their target price on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price target on shares of Abercrombie & Fitch from $168.00 to $155.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, StockNews.com downgraded Abercrombie & Fitch from a "buy" rating to a "hold" rating in a report on Sunday, March 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.25.

Abercrombie & Fitch Stock Down 1.8 %

ANF stock traded down $1.24 during midday trading on Monday, reaching $69.55. The company's stock had a trading volume of 1,504,069 shares, compared to its average volume of 2,003,381. The business's 50-day simple moving average is $78.08 and its 200-day simple moving average is $116.33. Abercrombie & Fitch Co. has a 52 week low of $65.40 and a 52 week high of $196.99. The stock has a market cap of $3.31 billion, a PE ratio of 6.88 and a beta of 1.47.

Abercrombie & Fitch (NYSE:ANF - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.09. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The firm's revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.97 EPS. As a group, equities analysts forecast that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 5th that permits the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.