Sierra Summit Advisors LLC Takes $553,000 Position in Abercrombie & Fitch Co. (NYSE:ANF)

Sierra Summit Advisors LLC acquired a new position in Abercrombie & Fitch Co. (NYSE:ANF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,697 shares of the apparel retailer’s stock, valued at approximately $553,000.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Abercrombie & Fitch during the fourth quarter worth $27,000. UMB Bank n.a. raised its holdings in shares of Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 107 shares during the period. Fifth Third Bancorp lifted its stake in Abercrombie & Fitch by 56.2% during the 4th quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after acquiring an additional 132 shares in the last quarter. Private Trust Co. NA boosted its holdings in Abercrombie & Fitch by 30.9% during the 4th quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock valued at $62,000 after acquiring an additional 98 shares during the period. Finally, Parkside Financial Bank & Trust acquired a new position in Abercrombie & Fitch in the 4th quarter valued at about $69,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on ANF shares. Telsey Advisory Group reduced their price target on shares of Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Citigroup decreased their price target on shares of Abercrombie & Fitch from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. StockNews.com lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. UBS Group decreased their target price on Abercrombie & Fitch from $210.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Raymond James set a $110.00 price target on Abercrombie & Fitch in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.88.

Abercrombie & Fitch Stock Performance

ANF opened at $73.37 on Monday. Abercrombie & Fitch Co. has a one year low of $66.51 and a one year high of $196.99. The company has a market cap of $3.59 billion, a P/E ratio of 7.26 and a beta of 1.41. The business’s 50-day simple moving average is $95.74 and its 200-day simple moving average is $127.34.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 EPS for the quarter, beating the consensus estimate of $3.48 by $0.09. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 earnings per share. As a group, analysts predict that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch declared that its board has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $1.30 billion in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 29.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About Abercrombie & Fitch

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.