Navellier & Associates Inc. Grows Position in Abercrombie & Fitch Co. (NYSE:ANF)

Navellier & Associates Inc. increased its position in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 46.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,302 shares of the apparel retailer’s stock after buying an additional 13,955 shares during the quarter. Abercrombie & Fitch comprises 0.8% of Navellier & Associates Inc.’s investment portfolio, making the stock its 24th biggest holding. Navellier & Associates Inc. owned about 0.09% of Abercrombie & Fitch worth $6,198,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in shares of Abercrombie & Fitch by 16.0% in the 2nd quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock valued at $155,281,000 after purchasing an additional 120,509 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Abercrombie & Fitch by 146.3% in the 2nd quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock valued at $153,494,000 after purchasing an additional 512,700 shares during the last quarter. Hennessy Advisors Inc. grew its stake in shares of Abercrombie & Fitch by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 502,400 shares of the apparel retailer’s stock valued at $89,347,000 after purchasing an additional 76,900 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Abercrombie & Fitch by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 460,613 shares of the apparel retailer’s stock valued at $81,915,000 after purchasing an additional 20,616 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Abercrombie & Fitch by 45.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 454,550 shares of the apparel retailer’s stock valued at $56,969,000 after purchasing an additional 141,788 shares during the last quarter.

Wall Street Analysts Forecast Growth

ANF has been the topic of several analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 target price on shares of Abercrombie & Fitch in a research note on Wednesday, September 11th. Morgan Stanley reduced their price target on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Friday, August 30th. Jefferies Financial Group lifted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling

In other Abercrombie & Fitch news, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the sale, the executive vice president now owns 27,985 shares in the company, valued at $3,676,109.60. This represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the chief financial officer now owns 106,455 shares in the company, valued at $15,627,594. The trade was a 7.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,541 shares of company stock worth $4,310,256. 2.58% of the stock is currently owned by corporate insiders.

Abercrombie & Fitch Stock Up 1.0 %

Shares of NYSE:ANF opened at $138.20 on Thursday. The company has a market cap of $7.06 billion, a P/E ratio of 14.49 and a beta of 1.50. Abercrombie & Fitch Co. has a 52 week low of $71.14 and a 52 week high of $196.99. The business has a fifty day simple moving average of $142.44 and a 200-day simple moving average of $152.88.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Wednesday, August 28th. The apparel retailer reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.36. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. Sell-side analysts expect that Abercrombie & Fitch Co. will post 10.35 earnings per share for the current fiscal year.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.