Lazard Asset Management LLC Has $6.53 Million Stock Position in Abercrombie & Fitch Co. (NYSE:ANF)

Lazard Asset Management LLC lifted its stake in shares of Abercrombie & Fitch Co. (NYSE:ANF) by 21.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,674 shares of the apparel retailer’s stock after buying an additional 7,618 shares during the period. Lazard Asset Management LLC’s holdings in Abercrombie & Fitch were worth $6,526,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Abercrombie & Fitch during the 4th quarter worth approximately $27,000. UMB Bank n.a. grew its stake in Abercrombie & Fitch by 92.2% in the 4th quarter. UMB Bank n.a. now owns 223 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 107 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Abercrombie & Fitch by 56.2% during the fourth quarter. Fifth Third Bancorp now owns 367 shares of the apparel retailer’s stock worth $55,000 after buying an additional 132 shares in the last quarter. Private Trust Co. NA grew its position in Abercrombie & Fitch by 30.9% during the fourth quarter. Private Trust Co. NA now owns 415 shares of the apparel retailer’s stock worth $62,000 after buying an additional 98 shares in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Abercrombie & Fitch during the 4th quarter worth approximately $69,000.

Abercrombie & Fitch Price Performance

Abercrombie & Fitch stock opened at $79.71 on Friday. Abercrombie & Fitch Co. has a one year low of $65.40 and a one year high of $196.99. The firm has a market capitalization of $3.80 billion, a P/E ratio of 7.88 and a beta of 1.47. The business has a fifty day moving average price of $74.85 and a 200-day moving average price of $112.20.

Abercrombie & Fitch (NYSE:ANF) last announced its quarterly earnings results on Wednesday, March 5th. The apparel retailer reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.09. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 earnings per share. Sell-side analysts expect that Abercrombie & Fitch Co. will post 10.62 earnings per share for the current fiscal year.

Abercrombie & Fitch announced that its Board of Directors has authorized a share buyback program on Wednesday, March 5th that allows the company to repurchase $1.30 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on ANF. Raymond James set a $110.00 price target on Abercrombie & Fitch in a research note on Thursday, March 6th. Jefferies Financial Group decreased their price target on Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Citigroup dropped their price objective on Abercrombie & Fitch from $135.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Telsey Advisory Group reduced their target price on Abercrombie & Fitch from $190.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, StockNews.com cut shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Sunday, March 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.63.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.