Hennion & Walsh Asset Management Inc. Invests $306,000 in Abercrombie & Fitch Co. (NYSE:ANF)

Hennion & Walsh Asset Management Inc. purchased a new position in Abercrombie & Fitch Co. (NYSE:ANF) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,440 shares of the apparel retailer’s stock, valued at approximately $306,000.

A number of other hedge funds have also modified their holdings of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in Abercrombie & Fitch in the fourth quarter worth $33,000. GAMMA Investing LLC bought a new stake in Abercrombie & Fitch in the fourth quarter worth $49,000. Daiwa Securities Group Inc. bought a new stake in Abercrombie & Fitch in the fourth quarter worth $62,000. USA Financial Formulas boosted its holdings in Abercrombie & Fitch by 1,227.7% in the fourth quarter. USA Financial Formulas now owns 863 shares of the apparel retailer’s stock worth $76,000 after purchasing an additional 798 shares in the last quarter. Finally, BML Capital Management LLC bought a new stake in Abercrombie & Fitch in the fourth quarter worth $79,000.

Insider Activity at Abercrombie & Fitch

In related news, Director Kenneth B. Robinson sold 1,300 shares of the stock in a transaction dated Thursday, June 6th. The shares were 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 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 the SEC website. In related news, Director James A. Goldman sold 4,120 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $176.48, for a total value of $727,097.60. Following the completion of the transaction, the director now owns 7,565 shares of the company’s stock, valued at $1,335,071.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth B. Robinson sold 1,300 shares of the 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 transaction, the director now directly owns 5,880 shares of the company’s stock, valued at approximately $1,009,066.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 422,120 shares of company stock worth $48,119,693. Company insiders own 3.77% of the company’s stock.

Abercrombie & Fitch Stock Down 2.0 %

NYSE ANF opened at $179.75 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.15 and a current ratio of 1.64. The firm has a 50-day simple moving average of $159.09 and a 200 day simple moving average of $128.41. Abercrombie & Fitch Co. has a twelve month low of $33.38 and a twelve month high of $196.99. The stock has a market cap of $9.19 billion, a PE ratio of 22.36 and a beta of 1.54.

Abercrombie & Fitch (NYSE:ANF) last released its earnings results on Wednesday, May 29th. The apparel retailer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.48. Abercrombie & Fitch had a net margin of 9.53% and a return on equity of 44.83%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $967.37 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. On average, research analysts forecast that Abercrombie & Fitch Co. will post 9.25 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Abercrombie & Fitch from $155.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Telsey Advisory Group restated an “outperform” rating and set a $152.00 price target on shares of Abercrombie & Fitch in a report on Wednesday, May 29th. UBS Group upped their price target on shares of Abercrombie & Fitch from $155.00 to $193.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Argus upped their price target on shares of Abercrombie & Fitch from $97.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Abercrombie & Fitch has an average rating of “Moderate Buy” and an average target price of $174.14.

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.