Delphi Management Inc. MA Acquires New Stake in Abercrombie & Fitch Co. (NYSE:ANF)

Delphi Management Inc. MA acquired a new stake in Abercrombie & Fitch Co. (NYSE:ANF) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,454 shares of the apparel retailer’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Global Investments increased its holdings in Abercrombie & Fitch by 15.7% in the first quarter. Summit Global Investments now owns 4,136 shares of the apparel retailer’s stock valued at $316,000 after purchasing an additional 561 shares during the period. GAMMA Investing LLC increased its holdings in Abercrombie & Fitch by 13,763.7% in the first quarter. GAMMA Investing LLC now owns 146,401 shares of the apparel retailer’s stock valued at $11,181,000 after purchasing an additional 145,345 shares during the period. Versant Capital Management Inc increased its holdings in Abercrombie & Fitch by 55.6% in the first quarter. Versant Capital Management Inc now owns 728 shares of the apparel retailer’s stock valued at $56,000 after purchasing an additional 260 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Abercrombie & Fitch in the fourth quarter valued at $10,212,000. Finally, Virtue Capital Management LLC increased its holdings in Abercrombie & Fitch by 1.3% in the fourth quarter. Virtue Capital Management LLC now owns 8,221 shares of the apparel retailer’s stock valued at $1,229,000 after purchasing an additional 102 shares during the period.

Analyst Upgrades and Downgrades

ANF has been the subject of a number of recent research reports. Wall Street Zen downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Sunday, March 9th. UBS Group reaffirmed a “buy” rating on shares of Abercrombie & Fitch in a research report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abercrombie & Fitch in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Abercrombie & Fitch from $142.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group cut their price target on shares of Abercrombie & Fitch from $170.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.38.

Abercrombie & Fitch Price Performance

ANF stock opened at $78.38 on Friday. The stock has a market capitalization of $3.73 billion, a PE ratio of 7.75 and a beta of 1.47. The company’s 50-day moving average is $74.51 and its 200-day moving average is $107.67. Abercrombie & Fitch Co. has a 1 year low of $65.40 and a 1 year high of $194.38.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Wednesday, May 28th. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.24. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. On average, analysts anticipate 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 share buyback program on Wednesday, March 5th that authorizes the company to buyback $1.30 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 29.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.