Truist Financial Corp Trims Stock Holdings in Abercrombie & Fitch Co. (NYSE:ANF)

Truist Financial Corp lowered its position in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 32.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds have also recently modified their holdings of the business. Sage Rhino Capital LLC grew its holdings in Abercrombie & Fitch by 5.5% in the second quarter. Sage Rhino Capital LLC now owns 1,695 shares of the apparel retailer’s stock worth $301,000 after purchasing an additional 89 shares during the period. Ritholtz Wealth Management increased its position in Abercrombie & Fitch by 3.6% during the 2nd quarter. Ritholtz Wealth Management now owns 3,277 shares of the apparel retailer’s stock valued at $583,000 after buying an additional 115 shares in the last quarter. Quarry LP boosted its holdings in Abercrombie & Fitch by 156.0% in the second quarter. Quarry LP now owns 279 shares of the apparel retailer’s stock worth $50,000 after acquiring an additional 170 shares in the last quarter. Petra Financial Advisors Inc. grew its stake in shares of Abercrombie & Fitch by 3.0% in the second quarter. Petra Financial Advisors Inc. now owns 6,103 shares of the apparel retailer’s stock worth $1,085,000 after acquiring an additional 176 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in shares of Abercrombie & Fitch in the 2nd quarter worth about $35,000.

Insider Activity at Abercrombie & Fitch

In other news, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the chief financial officer now owns 106,455 shares of the company’s stock, valued at $15,627,594. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the chief financial officer now owns 106,455 shares in the company, valued at approximately $15,627,594. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samir Desai sold 19,041 shares of Abercrombie & Fitch stock in a transaction on Friday, September 6th. The shares were sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the completion of the sale, the executive vice president now owns 27,985 shares in the company, valued at approximately $3,676,109.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,541 shares of company stock worth $4,310,256. 3.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Friday, August 30th. Morgan Stanley lowered their price objective on shares of Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Jefferies Financial Group lifted 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. JPMorgan Chase & Co. increased their price target on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Argus cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $176.71.

Abercrombie & Fitch Stock Up 3.0 %

Shares of ANF opened at $160.23 on Wednesday. Abercrombie & Fitch Co. has a 52 week low of $57.78 and a 52 week high of $196.99. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 19.93 and a beta of 1.49. The business has a 50-day simple moving average of $145.76 and a two-hundred day simple moving average of $148.69.

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

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.