Bank of New York Mellon Corp Lowers Position in Abercrombie & Fitch Company (NYSE:ANF)

Bank of New York Mellon Corp lessened its stake in Abercrombie & Fitch Company (NYSE:ANF) by 5.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 395,316 shares of the apparel retailer’s stock after selling 21,788 shares during the quarter. Bank of New York Mellon Corp’s holdings in Abercrombie & Fitch were worth $30,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Virtue Capital Management LLC lifted its position in shares of Abercrombie & Fitch by 1.3% during the 4th quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock valued at $1,229,000 after buying an additional 102 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Abercrombie & Fitch by 2.0% in the fourth quarter. Evergreen Capital Management LLC now owns 5,460 shares of the apparel retailer’s stock valued at $816,000 after buying an additional 108 shares during the last quarter. Atria Investments Inc grew its holdings in Abercrombie & Fitch by 7.4% during the fourth quarter. Atria Investments Inc now owns 1,679 shares of the apparel retailer’s stock worth $251,000 after acquiring an additional 115 shares during the period. Axxcess Wealth Management LLC grew its holdings in Abercrombie & Fitch by 5.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,525 shares of the apparel retailer’s stock valued at $377,000 after purchasing an additional 133 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Abercrombie & Fitch by 19.8% in the 4th quarter. Covestor Ltd now owns 1,194 shares of the apparel retailer’s stock worth $179,000 after buying an additional 197 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley lifted their target price on Abercrombie & Fitch from $78.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, May 29th. Citigroup restated a “buy” rating on shares of Abercrombie & Fitch in a report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price objective on Abercrombie & Fitch from $147.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. UBS Group reaffirmed a “buy” rating on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $125.00 price objective on shares of Abercrombie & Fitch in a research note on Wednesday, May 28th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.63.

Abercrombie & Fitch Price Performance

Abercrombie & Fitch stock opened at $89.40 on Wednesday. The business’s fifty day moving average is $80.54 and its 200 day moving average is $92.79. The stock has a market capitalization of $4.26 billion, a PE ratio of 8.80 and a beta of 1.46. Abercrombie & Fitch Company has a one year low of $65.40 and a one year high of $172.90.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings data 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. Abercrombie & Fitch had a net margin of 10.60% and a return on equity of 42.32%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Abercrombie & Fitch Company will post 10.62 EPS for the current fiscal year.

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.