Wedge Capital Management L L P NC Has $47.05 Million Stock Holdings in Abercrombie & Fitch Co. (NYSE:ANF)

Wedge Capital Management L L P NC decreased its stake in Abercrombie & Fitch Co. (NYSE:ANF) by 10.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 264,586 shares of the apparel retailer’s stock after selling 32,451 shares during the period. Abercrombie & Fitch comprises approximately 0.8% of Wedge Capital Management L L P NC’s portfolio, making the stock its 26th biggest holding. Wedge Capital Management L L P NC’s holdings in Abercrombie & Fitch were worth $47,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of Abercrombie & Fitch by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 25,435 shares of the apparel retailer’s stock worth $2,244,000 after acquiring an additional 93 shares during the last quarter. Spire Wealth Management grew its stake in shares of Abercrombie & Fitch by 51.4% in the first quarter. Spire Wealth Management now owns 315 shares of the apparel retailer’s stock worth $39,000 after acquiring an additional 107 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Abercrombie & Fitch by 1.6% in the fourth quarter. National Bank of Canada FI now owns 8,587 shares of the apparel retailer’s stock worth $780,000 after acquiring an additional 132 shares during the last quarter. Matrix Trust Co acquired a new stake in Abercrombie & Fitch during the second quarter worth $35,000. Finally, Sequoia Financial Advisors LLC boosted its stake in Abercrombie & Fitch by 14.2% during the second quarter. Sequoia Financial Advisors LLC now owns 2,196 shares of the apparel retailer’s stock worth $391,000 after buying an additional 273 shares in the last quarter.

Wall Street Analysts Forecast Growth

ANF has been the topic of a number of recent research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $152.00 price target on shares of Abercrombie & Fitch in a research note on Wednesday, May 29th. UBS Group lifted their price target on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Morgan Stanley lifted their price target on shares of Abercrombie & Fitch from $112.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Argus downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. upgraded shares of Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $167.00 to $194.00 in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $178.00.

Insider Activity at Abercrombie & Fitch

In related news, Director Kenneth B. Robinson sold 1,300 shares of Abercrombie & Fitch stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $171.61, for a total value of $223,093.00. Following the completion of the transaction, the director now directly owns 5,880 shares of the company’s stock, valued at $1,009,066.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Abercrombie & Fitch news, Director Kenneth B. Robinson sold 1,300 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $171.61, for a total transaction of $223,093.00. Following the completion of the sale, the director now directly owns 5,880 shares of the company’s stock, valued at approximately $1,009,066.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $176.48, for a total value of $1,588,320.00. Following the sale, the chief financial officer now directly owns 115,455 shares of the company’s stock, valued at $20,375,498.40. The disclosure for this sale can be found here. Insiders sold 22,120 shares of company stock valued at $3,875,693 over the last ninety days. 3.77% of the stock is owned by insiders.

Abercrombie & Fitch Price Performance

Shares of NYSE ANF traded up $8.91 during midday trading on Thursday, reaching $161.99. 1,421,161 shares of the company traded hands, compared to its average volume of 1,664,036. The firm has a market cap of $8.28 billion, a PE ratio of 20.15 and a beta of 1.54. The stock’s 50-day simple moving average is $165.76 and its 200-day simple moving average is $141.07. Abercrombie & Fitch Co. has a 12 month low of $40.50 and a 12 month high of $196.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.15 and a current ratio of 1.64.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.48. Abercrombie & Fitch had a return on equity of 44.83% and a net margin of 9.53%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $967.37 million. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that Abercrombie & Fitch Co. will post 9.35 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.