Abercrombie & Fitch Company (ANF) Sees Large Increase in Short Interest
Abercrombie & Fitch Company (NYSE:ANF) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 19,797,852 shares, a growth of 3.4% from the July 14th total of 19,139,283 shares. Approximately 29.3% of the shares of the stock are sold short. Based on an average daily volume of 3,122,860 shares, the short-interest ratio is presently 6.3 days.
ANF has been the subject of several recent research reports. Vetr downgraded shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating and set a $12.38 target price for the company. in a report on Monday, April 24th. Zacks Investment Research upgraded shares of Abercrombie & Fitch from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Jefferies Group LLC restated a “hold” rating and set a $13.00 target price on shares of Abercrombie & Fitch in a report on Wednesday, May 3rd. Standpoint Research downgraded shares of Abercrombie & Fitch from a “buy” rating to a “reduce” rating in a report on Wednesday, May 10th. Finally, Wunderlich downgraded shares of Abercrombie & Fitch from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a report on Thursday, May 11th. Eleven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.76.
A number of institutional investors have recently added to or reduced their stakes in ANF. Cornerstone Capital Management Holdings LLC. purchased a new position in Abercrombie & Fitch during the second quarter worth approximately $114,000. Point72 Asia Hong Kong Ltd purchased a new position in Abercrombie & Fitch during the first quarter worth approximately $149,000. Suntrust Banks Inc. increased its position in Abercrombie & Fitch by 7.9% in the first quarter. Suntrust Banks Inc. now owns 12,765 shares of the apparel retailer’s stock worth $152,000 after buying an additional 931 shares in the last quarter. State of Alaska Department of Revenue increased its position in Abercrombie & Fitch by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 13,427 shares of the apparel retailer’s stock worth $167,000 after buying an additional 5,957 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new position in Abercrombie & Fitch during the second quarter worth approximately $170,000.
Shares of Abercrombie & Fitch (NYSE:ANF) traded down 1.51% on Tuesday, reaching $9.15. 4,302,631 shares of the company’s stock were exchanged. The company’s market capitalization is $622.35 million. Abercrombie & Fitch has a 12 month low of $8.81 and a 12 month high of $23.29. The firm’s 50 day moving average price is $9.95 and its 200-day moving average price is $11.60.
Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings data on Thursday, May 25th. The apparel retailer reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by $0.21. Abercrombie & Fitch had a negative return on equity of 1.26% and a negative net margin of 0.55%. The firm had revenue of $661.10 million during the quarter, compared to analyst estimates of $651.25 million. During the same quarter in the prior year, the company posted ($0.53) EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Abercrombie & Fitch will post ($0.30) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, September 1st will be issued a $0.20 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 8.74%. Abercrombie & Fitch’s dividend payout ratio is currently -296.29%.
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About Abercrombie & Fitch
Abercrombie & Fitch Co is a specialty retailer who primarily sells its products through store and direct-to-consumer operations, as well as through various wholesale, franchise and licensing arrangements. The Company operates through two segments: Abercrombie, which includes the Company’s Abercrombie & Fitch and abercrombie kids brands, and Hollister, which includes the Company’s Hollister and Gilly Hicks brands.
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