Truist Financial Corp Sells 1,732 Shares of Abercrombie & Fitch Co. (NYSE:ANF)

Truist Financial Corp lessened its position in Abercrombie & Fitch Co. (NYSE:ANF) by 32.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,573 shares of the apparel retailer’s stock after selling 1,732 shares during the quarter. Truist Financial Corp’s holdings in Abercrombie & Fitch were worth $635,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ANF. Renaissance Technologies LLC raised its position in Abercrombie & Fitch by 146.3% in the 2nd quarter. Renaissance Technologies LLC now owns 863,100 shares of the apparel retailer’s stock worth $153,494,000 after purchasing an additional 512,700 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Abercrombie & Fitch by 2,036.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock worth $74,615,000 after acquiring an additional 399,922 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Abercrombie & Fitch by 613.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 356,610 shares of the apparel retailer’s stock valued at $44,694,000 after acquiring an additional 306,616 shares during the period. Driehaus Capital Management LLC grew its position in Abercrombie & Fitch by 283.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 303,896 shares of the apparel retailer’s stock valued at $54,045,000 after acquiring an additional 224,555 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Abercrombie & Fitch by 293.7% in the second quarter. Bank of Montreal Can now owns 286,434 shares of the apparel retailer’s stock worth $51,043,000 after purchasing an additional 213,684 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on ANF. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a report on Wednesday, September 11th. Jefferies Financial Group raised their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Argus lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Morgan Stanley reduced their price objective on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group lowered their target price on Abercrombie & Fitch from $193.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $176.71.

Abercrombie & Fitch Stock Performance

NYSE:ANF opened at $160.23 on Wednesday. The stock has a market capitalization of $8.19 billion, a P/E ratio of 19.93 and a beta of 1.49. The company’s 50-day simple moving average is $145.76 and its 200-day simple moving average is $148.69. Abercrombie & Fitch Co. has a fifty-two week low of $57.78 and a fifty-two week high of $196.99.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings results on Wednesday, August 28th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.36. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. On average, research analysts forecast that Abercrombie & Fitch Co. will post 10.26 EPS for the current year.

Insider Transactions at Abercrombie & Fitch

In related news, Director Helen Mccluskey sold 3,500 shares of the 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 directly owns 37,470 shares of the company’s stock, valued at $5,222,568.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Samir Desai sold 19,041 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $131.36, for a total value of $2,501,225.76. Following the transaction, the executive vice president now directly owns 27,985 shares of the company’s stock, valued at approximately $3,676,109.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen Mccluskey sold 3,500 shares of Abercrombie & Fitch stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the sale, the director now directly owns 37,470 shares of the company’s stock, valued at $5,222,568.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,541 shares of company stock worth $4,310,256. Insiders own 3.77% of the company’s stock.

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.