Fred Alger Management LLC Purchases Shares of 84,720 Abercrombie & Fitch Co. (NYSE:ANF)

Fred Alger Management LLC acquired a new position in shares of Abercrombie & Fitch Co. (NYSE:ANF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 84,720 shares of the apparel retailer’s stock, valued at approximately $11,852,000.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP increased its stake in Abercrombie & Fitch by 16.0% during the second quarter. Marshall Wace LLP now owns 873,148 shares of the apparel retailer’s stock valued at $155,281,000 after acquiring an additional 120,509 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Abercrombie & Fitch by 7.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 870,143 shares of the apparel retailer’s stock worth $121,733,000 after purchasing an additional 60,022 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Abercrombie & Fitch by 146.3% in the second 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 in the last quarter. Fisher Asset Management LLC raised its stake in shares of Abercrombie & Fitch by 3.0% in the third quarter. Fisher Asset Management LLC now owns 569,828 shares of the apparel retailer’s stock valued at $79,719,000 after purchasing an additional 16,754 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Abercrombie & Fitch during the third quarter worth $73,048,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ANF shares. Morgan Stanley increased their price objective on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Jefferies Financial Group lifted their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a research note on Tuesday. Finally, UBS Group boosted their price target on Abercrombie & Fitch from $170.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.14.

Insider Buying and Selling

In related news, Director Helen Mccluskey sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the transaction, the director now owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Samir Desai sold 19,041 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $131.36, for a total value of $2,501,225.76. Following the completion of the transaction, the executive vice president now owns 27,985 shares in the company, valued at $3,676,109.60. The trade was a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

Abercrombie & Fitch Trading Up 0.7 %

NYSE:ANF opened at $149.56 on Friday. The stock has a market capitalization of $7.64 billion, a P/E ratio of 14.79 and a beta of 1.50. Abercrombie & Fitch Co. has a 1 year low of $75.18 and a 1 year high of $196.99. The firm has a 50 day moving average of $143.82 and a 200-day moving average of $153.51.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.19. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. As a group, analysts forecast that Abercrombie & Fitch Co. will post 10.49 EPS for the current fiscal year.

About Abercrombie & Fitch

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.