Hennessy Advisors Inc. Acquires 52,600 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

Hennessy Advisors Inc. grew its holdings in Abercrombie & Fitch Co. (NYSE:ANF) by 14.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,500 shares of the apparel retailer’s stock after purchasing an additional 52,600 shares during the quarter. Abercrombie & Fitch makes up approximately 2.2% of Hennessy Advisors Inc.’s portfolio, making the stock its 4th largest holding. Hennessy Advisors Inc. owned 0.83% of Abercrombie & Fitch worth $53,328,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ANF. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $49,000. Daiwa Securities Group Inc. acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $62,000. USA Financial Formulas grew its position in shares of Abercrombie & Fitch by 1,227.7% in the fourth quarter. USA Financial Formulas now owns 863 shares of the apparel retailer’s stock valued at $76,000 after purchasing an additional 798 shares during the last quarter. Finally, BML Capital Management LLC acquired a new stake in shares of Abercrombie & Fitch in the fourth quarter valued at approximately $79,000.

Analyst Ratings Changes

ANF has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Abercrombie & Fitch from $112.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. StockNews.com raised shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Telsey Advisory Group reissued an “outperform” rating and set a $152.00 price objective on shares of Abercrombie & Fitch in a research note on Wednesday, May 29th. UBS Group upped their price objective on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Finally, Citigroup upped their price objective on shares of Abercrombie & Fitch from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abercrombie & Fitch has a consensus rating of “Moderate Buy” and a consensus price target of $174.14.

Insider Activity

In other news, CEO Fran Horowitz sold 400,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $110.61, for a total value of $44,244,000.00. Following the transaction, the chief executive officer now owns 525,520 shares of the company’s stock, valued at approximately $58,127,767.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Fran Horowitz sold 400,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $110.61, for a total value of $44,244,000.00. Following the transaction, the chief executive officer now owns 525,520 shares of the company’s stock, valued at approximately $58,127,767.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth B. Robinson sold 1,300 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $171.61, for a total transaction of $223,093.00. Following the completion of the transaction, the director now directly owns 5,880 shares in the company, valued at approximately $1,009,066.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 422,120 shares of company stock valued at $48,119,693. Company insiders own 3.77% of the company’s stock.

Abercrombie & Fitch Trading Up 1.7 %

NYSE:ANF traded up $2.91 during trading hours on Friday, reaching $175.44. 865,781 shares of the company were exchanged, compared to its average volume of 1,610,316. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.64 and a quick ratio of 1.15. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 21.75 and a beta of 1.48. Abercrombie & Fitch Co. has a 52-week low of $33.38 and a 52-week high of $196.99. The stock has a 50 day simple moving average of $152.50 and a 200 day simple moving average of $125.02.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.48. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $967.37 million. Abercrombie & Fitch had a net margin of 9.53% and a return on equity of 44.83%. Abercrombie & Fitch’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, analysts predict that Abercrombie & Fitch Co. will post 9.25 EPS for the current 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.