KLP Kapitalforvaltning AS Takes Position in Abercrombie & Fitch Co. (NYSE:ANF)

KLP Kapitalforvaltning AS acquired a new stake in Abercrombie & Fitch Co. (NYSE:ANF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,500 shares of the apparel retailer’s stock, valued at approximately $1,868,000.

A number of other institutional investors also recently bought and sold shares of the stock. AXQ Capital LP purchased a new position in shares of Abercrombie & Fitch in the fourth quarter worth $228,000. Hillsdale Investment Management Inc. raised its stake in Abercrombie & Fitch by 0.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 35,350 shares of the apparel retailer’s stock worth $5,284,000 after acquiring an additional 250 shares during the last quarter. American Century Companies Inc. lifted its position in Abercrombie & Fitch by 0.8% during the 4th quarter. American Century Companies Inc. now owns 680,930 shares of the apparel retailer’s stock worth $101,779,000 after acquiring an additional 5,493 shares during the period. Summit Global Investments purchased a new stake in Abercrombie & Fitch during the 4th quarter valued at about $534,000. Finally, Lingohr Asset Management GmbH acquired a new position in shares of Abercrombie & Fitch in the fourth quarter valued at about $362,000.

Abercrombie & Fitch Stock Up 2.5 %

ANF stock opened at $77.64 on Friday. Abercrombie & Fitch Co. has a 52-week low of $74.31 and a 52-week high of $196.99. The firm has a market cap of $3.91 billion, a P/E ratio of 7.68 and a beta of 1.45. The company’s 50-day simple moving average is $101.82 and its 200-day simple moving average is $129.88.

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, topping analysts’ consensus estimates of $3.48 by $0.09. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.57 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. Abercrombie & Fitch’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 earnings per share. On average, analysts anticipate that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on ANF shares. Telsey Advisory Group decreased their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Citigroup dropped their price objective on shares of Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group reduced their target price on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price objective on Abercrombie & Fitch from $149.00 to $139.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.88.

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.