Clearbridge Investments LLC Purchases 38,826 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

Clearbridge Investments LLC boosted its position in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,908 shares of the apparel retailer’s stock after purchasing an additional 38,826 shares during the period. Clearbridge Investments LLC’s holdings in Abercrombie & Fitch were worth $37,503,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Abercrombie & Fitch during the fourth quarter worth $27,000. UMB Bank n.a. increased its stake in 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 buying an additional 107 shares during the period. Fifth Third Bancorp lifted its holdings in Abercrombie & Fitch by 56.2% during the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock valued at $55,000 after buying an additional 132 shares in the last quarter. Private Trust Co. NA boosted its position in Abercrombie & Fitch by 30.9% in the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after buying an additional 98 shares during the period. Finally, Parkside Financial Bank & Trust bought a new position in Abercrombie & Fitch in the 4th quarter worth about $69,000.

Abercrombie & Fitch Stock Performance

Shares of Abercrombie & Fitch stock opened at $78.67 on Wednesday. The company has a market capitalization of $3.96 billion, a PE ratio of 7.78 and a beta of 1.45. The company has a 50-day simple moving average of $98.72 and a two-hundred day simple moving average of $128.59. Abercrombie & Fitch Co. has a one year low of $73.39 and a one year high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last posted its earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.09. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. Abercrombie & Fitch’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ANF. JPMorgan Chase & Co. decreased their price target on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. StockNews.com lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. UBS Group dropped their price target on Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Jefferies Financial Group decreased 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. Finally, Telsey Advisory Group dropped their target price on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.88.

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.