Independent Advisor Alliance Takes Position in Abercrombie & Fitch Co. (NYSE:ANF)

Independent Advisor Alliance acquired a new stake in shares of Abercrombie & Fitch Co. (NYSE:ANF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,388 shares of the apparel retailer’s stock, valued at approximately $2,293,000.

Several other hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP increased its holdings in shares of Abercrombie & Fitch by 16.0% during the second quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock valued at $155,281,000 after acquiring an additional 120,509 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Abercrombie & Fitch by 7.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer’s stock valued at $121,733,000 after acquiring an additional 60,022 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Abercrombie & Fitch by 146.3% during the second quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock valued at $153,494,000 after acquiring an additional 512,700 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Abercrombie & Fitch by 3.0% during the third quarter. Fisher Asset Management LLC now owns 569,828 shares of the apparel retailer’s stock valued at $79,719,000 after acquiring an additional 16,754 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Abercrombie & Fitch during the third quarter valued at about $73,048,000.

Abercrombie & Fitch Trading Up 1.9 %

Abercrombie & Fitch stock opened at $154.86 on Tuesday. Abercrombie & Fitch Co. has a 12 month low of $72.98 and a 12 month high of $196.99. The stock’s 50 day simple moving average is $143.13 and its two-hundred day simple moving average is $153.46. The firm has a market cap of $7.91 billion, a PE ratio of 16.40 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, August 28th. The apparel retailer reported $2.50 EPS for the quarter, topping the consensus estimate of $2.14 by $0.36. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. On average, equities research analysts forecast that Abercrombie & Fitch Co. will post 10.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ANF. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Friday, August 30th. UBS Group increased their price target on shares of Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Morgan Stanley cut their price target on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on shares of Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abercrombie & Fitch currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Activity

In other news, EVP Samir Desai sold 19,041 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the transaction, the executive vice president now owns 27,985 shares in the company, valued at $3,676,109.60. This trade represents a 40.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the chief financial officer now owns 106,455 shares in the company, valued at $15,627,594. This trade represents a 7.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,541 shares of company stock worth $4,310,256 in the last quarter. Corporate insiders own 2.58% of the company’s stock.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.