Axxcess Wealth Management LLC Increases Stake in Abercrombie & Fitch Co. (NYSE:ANF)

Axxcess Wealth Management LLC boosted its stake in Abercrombie & Fitch Co. (NYSE:ANF) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,525 shares of the apparel retailer’s stock after purchasing an additional 133 shares during the period. Axxcess Wealth Management LLC’s holdings in Abercrombie & Fitch were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Abercrombie & Fitch during the fourth quarter valued at approximately $27,000. UMB Bank n.a. boosted its position in shares of Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 107 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Abercrombie & Fitch by 604.4% in the third quarter. Private Trust Co. NA now owns 317 shares of the apparel retailer’s stock worth $44,000 after acquiring an additional 272 shares during the last quarter. Fifth Third Bancorp boosted its stake in Abercrombie & Fitch by 56.2% in the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. Finally, Parkside Financial Bank & Trust bought a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at approximately $69,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on ANF shares. Citigroup decreased their target price on Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered their target price on Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Raymond James set a $110.00 price objective on Abercrombie & Fitch in a research note on Thursday, March 6th. Finally, UBS Group dropped their target price on shares of Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.88.

Abercrombie & Fitch Stock Performance

NYSE ANF opened at $79.35 on Friday. Abercrombie & Fitch Co. has a fifty-two week low of $74.31 and a fifty-two week high of $196.99. The company has a market cap of $4.00 billion, a P/E ratio of 7.85 and a beta of 1.45. The business’s 50 day moving average price is $106.14 and its 200-day moving average price is $131.56.

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

Abercrombie & Fitch declared that its board has initiated a stock buyback program on Wednesday, March 5th that permits the company to repurchase $1.30 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 29.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.