Corient Private Wealth LLC Cuts Position in Abercrombie & Fitch Co. (NYSE:ANF)

Corient Private Wealth LLC decreased its holdings in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 6.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,589 shares of the apparel retailer’s stock after selling 254 shares during the period. Corient Private Wealth LLC’s holdings in Abercrombie & Fitch were worth $536,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Abercrombie & Fitch during the 4th quarter valued at approximately $31,371,000. Wellington Management Group LLP increased its holdings in shares of Abercrombie & Fitch by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock valued at $142,379,000 after acquiring an additional 204,901 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Abercrombie & Fitch by 23.2% in the 4th quarter. Fisher Asset Management LLC now owns 701,798 shares of the apparel retailer’s stock worth $104,898,000 after purchasing an additional 131,970 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of Abercrombie & Fitch in the 3rd quarter worth about $11,852,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Abercrombie & Fitch in the 4th quarter worth about $12,406,000.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock opened at $76.65 on Friday. Abercrombie & Fitch Co. has a one year low of $74.31 and a one year high of $196.99. The stock has a fifty day moving average of $100.75 and a 200 day moving average of $129.48. The stock has a market cap of $3.86 billion, a PE ratio of 7.58 and a beta of 1.45.

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

Abercrombie & Fitch declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 29.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ANF has been the subject of several recent analyst reports. StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday, March 9th. JPMorgan Chase & Co. lowered their price objective 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. UBS Group reduced their target price on Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Morgan Stanley lowered their price target on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, Jefferies Financial Group reduced their price objective on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.88.

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.