Jennison Associates LLC Takes $844,000 Position in Abercrombie & Fitch Co. (NYSE:ANF)

Jennison Associates LLC purchased a new stake in shares of Abercrombie & Fitch Co. (NYSE:ANF) during the 4th quarter, Holdings Channel reports. The fund purchased 5,646 shares of the apparel retailer’s stock, valued at approximately $844,000.

Several other large investors have also made changes to their positions in ANF. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Abercrombie & Fitch by 8,914.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 631 shares of the apparel retailer’s stock valued at $112,000 after acquiring an additional 624 shares during the period. GAMMA Investing LLC lifted its stake in shares of Abercrombie & Fitch by 39.2% during the third quarter. GAMMA Investing LLC now owns 788 shares of the apparel retailer’s stock valued at $110,000 after acquiring an additional 222 shares during the period. CWM LLC lifted its stake in shares of Abercrombie & Fitch by 292.8% during the third quarter. CWM LLC now owns 2,086 shares of the apparel retailer’s stock valued at $292,000 after acquiring an additional 1,555 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Abercrombie & Fitch by 23.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,800 shares of the apparel retailer’s stock valued at $1,230,000 after acquiring an additional 1,700 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of Abercrombie & Fitch by 11.6% during the third quarter. Ritholtz Wealth Management now owns 3,656 shares of the apparel retailer’s stock valued at $511,000 after acquiring an additional 379 shares during the period.

Abercrombie & Fitch Price Performance

Shares of Abercrombie & Fitch stock opened at $114.62 on Friday. Abercrombie & Fitch Co. has a 1 year low of $101.59 and a 1 year high of $196.99. The business has a 50-day moving average of $140.59 and a two-hundred day moving average of $143.84. The company has a market capitalization of $5.77 billion, a P/E ratio of 11.34 and a beta of 1.49.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.18. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Abercrombie & Fitch had a return on equity of 46.50% and a net margin of 11.16%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 earnings per share. On average, equities analysts anticipate that Abercrombie & Fitch Co. will post 10.64 EPS for the current fiscal year.

Analysts Set New Price Targets

ANF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Abercrombie & Fitch from $201.00 to $204.00 and gave the company an “overweight” rating in a report on Friday, December 20th. StockNews.com upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a report on Tuesday, January 14th. Raymond James dropped their price objective on Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Finally, UBS Group upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their price objective for the company from $173.00 to $220.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Abercrombie & Fitch currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.25.

Insider Buying and Selling

In other Abercrombie & Fitch news, Director Suzanne M. Coulter sold 2,870 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $160.00, for a total value of $459,200.00. Following the completion of the transaction, the director now directly owns 6,405 shares in the company, valued at $1,024,800. This trade represents a 30.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samir Desai sold 5,926 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $148.51, for a total value of $880,070.26. Following the completion of the transaction, the executive vice president now owns 22,059 shares of the company’s stock, valued at approximately $3,275,982.09. This represents a 21.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,401 shares of company stock worth $2,631,741. 2.58% of the stock is owned by corporate insiders.

About Abercrombie & Fitch

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.