Hsbc Holdings PLC Raises Stock Position in Abercrombie & Fitch Co. (NYSE:ANF)

Hsbc Holdings PLC increased its holdings in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 112.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,991 shares of the apparel retailer’s stock after purchasing an additional 12,696 shares during the period. Hsbc Holdings PLC’s holdings in Abercrombie & Fitch were worth $3,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ANF. SBI Securities Co. Ltd. purchased a new stake in shares of Abercrombie & Fitch in the fourth quarter worth about $27,000. UMB Bank n.a. lifted its position in Abercrombie & Fitch by 92.2% during the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 107 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Abercrombie & Fitch by 56.2% in 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 during the period. Private Trust Co. NA grew its position in Abercrombie & Fitch by 30.9% in the fourth 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 in the last quarter. Finally, Parkside Financial Bank & Trust purchased a new stake in shares of Abercrombie & Fitch during the fourth quarter valued at approximately $69,000.

Abercrombie & Fitch Stock Down 1.7 %

NYSE:ANF opened at $69.47 on Wednesday. The company has a market cap of $3.39 billion, a PE ratio of 6.87 and a beta of 1.41. The business’s 50 day moving average is $79.96 and its two-hundred day moving average is $118.52. Abercrombie & Fitch Co. has a 52 week low of $65.40 and a 52 week high of $196.99.

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

Abercrombie & Fitch announced that its board has authorized a stock repurchase program on Wednesday, March 5th that allows the company to buyback $1.30 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 29.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ANF shares. Raymond James set a $110.00 target price on shares of Abercrombie & Fitch in a research note on Thursday, March 6th. StockNews.com downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th. Barclays initiated coverage on Abercrombie & Fitch in a research report on Monday, April 21st. They set an “equal weight” rating and a $71.00 target price on the stock. UBS Group reduced their price target 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, Telsey Advisory Group dropped their price objective on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.25.

Abercrombie & Fitch Profile

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.