Abercrombie & Fitch Co. (NYSE:ANF) Shares Sold by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT lessened its stake in Abercrombie & Fitch Co. (NYSE:ANF) by 30.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,100 shares of the apparel retailer’s stock after selling 12,141 shares during the quarter. Discovery Capital Management LLC CT owned about 0.05% of Abercrombie & Fitch worth $4,819,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC boosted 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 valued at $153,494,000 after buying an additional 512,700 shares during the last quarter. Norges Bank acquired a new position in shares of Abercrombie & Fitch in the fourth quarter worth about $37,632,000. Assenagon Asset Management S.A. boosted its holdings in Abercrombie & Fitch by 2,036.5% in the second quarter. Assenagon Asset Management S.A. now owns 419,560 shares of the apparel retailer’s stock valued at $74,615,000 after purchasing an additional 399,922 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Abercrombie & Fitch during the 4th quarter valued at approximately $32,897,000. Finally, Jupiter Asset Management Ltd. increased 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 worth $44,694,000 after purchasing an additional 306,616 shares during the last quarter.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock opened at $141.80 on Monday. Abercrombie & Fitch Co. has a 1 year low of $49.24 and a 1 year high of $196.99. The firm’s 50-day moving average is $148.86 and its 200-day moving average is $146.74. The company has a market cap of $7.25 billion, a P/E ratio of 17.64 and a beta of 1.50.

Abercrombie & Fitch (NYSE:ANF) last issued its 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. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Abercrombie & Fitch had a net margin of 10.76% and a return on equity of 47.35%. As a group, sell-side analysts predict that Abercrombie & Fitch Co. will post 10.11 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ANF shares. JPMorgan Chase & Co. upgraded Abercrombie & Fitch from a “neutral” rating to an “overweight” rating and increased their target price for the company from $167.00 to $194.00 in a research note on Monday, July 22nd. UBS Group reduced their price objective on shares of Abercrombie & Fitch from $193.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Jefferies Financial Group boosted 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. Telsey Advisory Group reaffirmed an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a research report on Wednesday, September 11th. Finally, Argus downgraded Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Abercrombie & Fitch presently has a consensus rating of “Moderate Buy” and an average target price of $176.57.

Insider Activity at Abercrombie & Fitch

In related news, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the completion of the transaction, the executive vice president now directly owns 27,985 shares in the company, valued at approximately $3,676,109.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Abercrombie & Fitch news, Director Helen Mccluskey sold 3,500 shares of the company’s stock in a transaction dated 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 owns 37,470 shares in the company, valued at approximately $5,222,568.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Samir Desai sold 19,041 shares of Abercrombie & Fitch stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $131.36, for a total value of $2,501,225.76. Following the sale, the executive vice president now directly owns 27,985 shares in the company, valued at approximately $3,676,109.60. The disclosure for this sale can be found here. Insiders sold 31,541 shares of company stock worth $4,310,256 in the last 90 days. 3.77% of the stock is currently owned by company 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.