Short Interest in Abercrombie & Fitch Co. (NYSE:ANF) Declines By 8.5%

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Abercrombie & Fitch Co. (NYSE:ANF) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 11,690,000 shares, a drop of 8.5% from the September 30th total of 12,770,000 shares. Currently, 18.8% of the company’s stock are sold short. Based on an average trading volume of 2,670,000 shares, the short-interest ratio is presently 4.4 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANF. Paradice Investment Management LLC grew its position in Abercrombie & Fitch by 7.8% in the 3rd quarter. Paradice Investment Management LLC now owns 2,978,375 shares of the apparel retailer’s stock worth $46,463,000 after purchasing an additional 215,833 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Abercrombie & Fitch by 69.5% in the third quarter. First Trust Advisors LP now owns 183,410 shares of the apparel retailer’s stock worth $2,861,000 after buying an additional 75,190 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Abercrombie & Fitch by 17.3% in the third quarter. Russell Investments Group Ltd. now owns 56,991 shares of the apparel retailer’s stock worth $888,000 after buying an additional 8,417 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Abercrombie & Fitch by 14.4% in the third quarter. California Public Employees Retirement System now owns 124,687 shares of the apparel retailer’s stock worth $1,945,000 after buying an additional 15,684 shares in the last quarter. Finally, Kovack Advisors Inc. lifted its holdings in shares of Abercrombie & Fitch by 13.7% in the third quarter. Kovack Advisors Inc. now owns 74,448 shares of the apparel retailer’s stock worth $1,161,000 after buying an additional 8,998 shares in the last quarter.

ANF stock traded up $0.50 during mid-day trading on Friday, hitting $18.45. 1,486,553 shares of the company were exchanged, compared to its average volume of 1,805,743. The business has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $18.12. The company has a current ratio of 1.48, a quick ratio of 0.87 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $1.13 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95. Abercrombie & Fitch has a 1-year low of $13.58 and a 1-year high of $30.63.

Abercrombie & Fitch (NYSE:ANF) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported ($0.48) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.04. Abercrombie & Fitch had a net margin of 2.00% and a return on equity of 5.84%. The firm had revenue of $841.08 million during the quarter, compared to the consensus estimate of $847.96 million. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts expect that Abercrombie & Fitch will post 0.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. Abercrombie & Fitch’s payout ratio is 69.57%.

ANF has been the subject of several analyst reports. Deutsche Bank upgraded Abercrombie & Fitch from a “sell” rating to a “hold” rating and decreased their price objective for the company from $15.00 to $14.00 in a report on Friday, August 30th. Telsey Advisory Group decreased their price objective on Abercrombie & Fitch from $20.00 to $17.00 and set a “market perform” rating for the company in a report on Friday, August 30th. DA Davidson initiated coverage on Abercrombie & Fitch in a report on Tuesday, September 17th. They set a “neutral” rating and a $18.00 price target for the company. Royal Bank of Canada reduced their price target on Abercrombie & Fitch from $20.00 to $17.00 and set a “sector perform” rating for the company in a report on Friday, August 30th. Finally, B. Riley set a $15.00 price target on Abercrombie & Fitch and gave the stock a “hold” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Abercrombie & Fitch has a consensus rating of “Hold” and an average price target of $19.64.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, personal care products, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brands.

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