Mutual of America Capital Management LLC Sells 640 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

Mutual of America Capital Management LLC cut its position in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,981 shares of the apparel retailer’s stock after selling 640 shares during the period. Mutual of America Capital Management LLC’s holdings in Abercrombie & Fitch were worth $4,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Westfield Capital Management Co. LP acquired a new stake in Abercrombie & Fitch in the 3rd quarter valued at $73,048,000. Wellington Management Group LLP boosted its stake in Abercrombie & Fitch by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,017,720 shares of the apparel retailer’s stock valued at $142,379,000 after buying an additional 204,901 shares in the last quarter. Bridgewater Associates LP boosted its stake in Abercrombie & Fitch by 561.7% in the 3rd quarter. Bridgewater Associates LP now owns 125,550 shares of the apparel retailer’s stock valued at $17,564,000 after buying an additional 106,577 shares in the last quarter. Fred Alger Management LLC acquired a new stake in Abercrombie & Fitch in the 3rd quarter valued at $11,852,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Abercrombie & Fitch in the 4th quarter valued at $12,406,000.

Abercrombie & Fitch Stock Down 9.0 %

Shares of ANF opened at $87.43 on Thursday. Abercrombie & Fitch Co. has a 12-month low of $79.77 and a 12-month high of $196.99. The firm has a market capitalization of $4.40 billion, a PE ratio of 8.65 and a beta of 1.49. The stock’s fifty day simple moving average is $123.78 and its 200-day simple moving average is $137.94.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly 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. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Abercrombie & Fitch Co. will post 10.62 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages recently commented on ANF. JPMorgan Chase & Co. decreased their price target on Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research note on Wednesday, February 26th. Raymond James decreased their price target on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. UBS Group raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $173.00 to $220.00 in a research note on Friday, January 10th. Finally, Morgan Stanley reduced their price objective on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Abercrombie & Fitch presently has an average rating of “Moderate Buy” and an average target price of $171.50.

Abercrombie & Fitch Company 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.