Allianz Asset Management GmbH Sells 102,633 Shares of Abercrombie & Fitch Company $ANF

Allianz Asset Management GmbH lessened its holdings in Abercrombie & Fitch Company (NYSE:ANF) by 51.3% in the third quarter, HoldingsChannel reports. The fund owned 97,253 shares of the apparel retailer’s stock after selling 102,633 shares during the period. Allianz Asset Management GmbH’s holdings in Abercrombie & Fitch were worth $8,320,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ANF. NewEdge Advisors LLC raised its holdings in Abercrombie & Fitch by 181.6% in the 2nd quarter. NewEdge Advisors LLC now owns 352 shares of the apparel retailer’s stock valued at $29,000 after acquiring an additional 227 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Abercrombie & Fitch during the third quarter valued at about $38,000. Ameritas Advisory Services LLC bought a new stake in Abercrombie & Fitch during the 2nd quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its stake in shares of Abercrombie & Fitch by 392.4% in the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the apparel retailer’s stock worth $59,000 after purchasing an additional 569 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Abercrombie & Fitch by 100.9% in the 2nd quarter. Asset Management One Co. Ltd. now owns 864 shares of the apparel retailer’s stock valued at $72,000 after buying an additional 434 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on ANF. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Abercrombie & Fitch in a research note on Thursday, October 30th. Zacks Research raised Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Jefferies Financial Group restated a “buy” rating and set a $145.00 price objective on shares of Abercrombie & Fitch in a report on Monday, January 5th. UBS Group increased their price objective on Abercrombie & Fitch from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group initiated coverage on shares of Abercrombie & Fitch in a research note on Thursday, December 11th. They issued a “buy” rating and a $120.00 target price for the company. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.60.

Abercrombie & Fitch Price Performance

Shares of ANF opened at $92.91 on Tuesday. The firm has a market cap of $4.26 billion, a PE ratio of 8.91 and a beta of 1.19. Abercrombie & Fitch Company has a 1 year low of $65.40 and a 1 year high of $133.11. The stock’s fifty day moving average price is $109.96 and its two-hundred day moving average price is $93.76.

Abercrombie & Fitch (NYSE:ANF) last issued its earnings results on Wednesday, November 26th. The apparel retailer reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.22. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Abercrombie & Fitch had a net margin of 10.07% and a return on equity of 38.01%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. Sell-side analysts anticipate that Abercrombie & Fitch Company will post 10.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Abercrombie & Fitch

In other news, CEO Fran Horowitz sold 29,769 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $100.00, for a total value of $2,976,900.00. Following the sale, the chief executive officer directly owned 308,503 shares of the company’s stock, valued at approximately $30,850,300. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 350,000 shares of company stock worth $34,661,358 in the last quarter. Corporate insiders own 2.29% of the company’s stock.

About Abercrombie & Fitch

Abercrombie & Fitch Co (NYSE: ANF) is an American specialty retailer that designs, markets and sells casual apparel and accessories for men, women and children. Founded in 1892 by David T. Abercrombie and Ezra Fitch, the company evolved from an outdoor gear outfitter to a global lifestyle brand renowned for its relaxed, preppy aesthetic. Its product assortment includes tops, bottoms, outerwear, intimates, swimwear, fragrances and personal care items.

The company operates under multiple brand names, including Abercrombie & Fitch, Abercrombie Kids, Hollister and Gilly Hicks, each targeting distinct consumer segments from teens to young adults.