BNP Paribas Arbitrage SA Increases Holdings in Abercrombie & Fitch Co. (ANF)

BNP Paribas Arbitrage SA raised its stake in Abercrombie & Fitch Co. (NYSE:ANF) by 122.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,571 shares of the apparel retailer’s stock after acquiring an additional 112,729 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.30% of Abercrombie & Fitch worth $5,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Abercrombie & Fitch by 4.3% in the 1st quarter. BlackRock Inc. now owns 9,246,433 shares of the apparel retailer’s stock valued at $223,856,000 after acquiring an additional 377,954 shares during the last quarter. Paradice Investment Management LLC grew its stake in shares of Abercrombie & Fitch by 3.2% in the 1st quarter. Paradice Investment Management LLC now owns 2,718,069 shares of the apparel retailer’s stock worth $65,777,000 after buying an additional 83,438 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Abercrombie & Fitch by 1.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,228,734 shares of the apparel retailer’s stock worth $29,749,000 after buying an additional 12,528 shares in the last quarter. Copper Rock Capital Partners LLC purchased a new position in shares of Abercrombie & Fitch in the 2nd quarter worth $19,833,000. Finally, Geode Capital Management LLC grew its stake in shares of Abercrombie & Fitch by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 564,238 shares of the apparel retailer’s stock worth $9,834,000 after buying an additional 3,539 shares in the last quarter.

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A number of brokerages have commented on ANF. TheStreet raised shares of Abercrombie & Fitch from a “c” rating to a “b-” rating in a research note on Thursday, May 17th. Wedbush began coverage on shares of Abercrombie & Fitch in a research note on Thursday, May 10th. They issued a “neutral” rating and a $25.00 price objective for the company. ValuEngine raised shares of Abercrombie & Fitch from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Abercrombie & Fitch from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, June 4th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $21.01.

Abercrombie & Fitch opened at $24.19 on Friday, Marketbeat Ratings reports. Abercrombie & Fitch Co. has a 12 month low of $9.03 and a 12 month high of $29.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.54 and a quick ratio of 1.67. The stock has a market cap of $1.61 billion, a P/E ratio of 37.22, a PEG ratio of 2.32 and a beta of 0.72.

Abercrombie & Fitch (NYSE:ANF) last released its quarterly earnings results on Friday, June 1st. The apparel retailer reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.21. Abercrombie & Fitch had a net margin of 0.74% and a return on equity of 5.72%. The firm had revenue of $730.90 million during the quarter, compared to analysts’ expectations of $695.68 million. During the same period in the previous year, the company earned ($0.91) EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. research analysts expect that Abercrombie & Fitch Co. will post 0.82 earnings per share for the current year.

In related news, insider Stacia J.P. Andersen sold 28,000 shares of Abercrombie & Fitch stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $27.55, for a total transaction of $771,400.00. Following the completion of the transaction, the insider now directly owns 18,251 shares of the company’s stock, valued at approximately $502,815.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The shares were purchased at an average cost of $24.03 per share, with a total value of $48,060.00. Following the completion of the purchase, the director now owns 2,500 shares in the company, valued at approximately $60,075. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by insiders.

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, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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Three obscure charts are pointing to weakness for stocks

All it takes is a peek under the market��s hood to see several warning signs cropping up for stocks.

Specifically, three measures of breadth, including the number of stocks advancing relative to the number declining �� a way to take the market��s temperature �� have been experiencing some meaningful cracks recently.

We��ve all heard about how a small number of high-flying stocks have accounted for most of the market��s gains this year, but in fact the NYSE cumulative advance/decline line had actually been rallying quite nicely along with the market for most of the year. Although the so-called FAANG stocks and a few other large-cap momentum names have played a big role in the rally, the advance has not been as ��narrow�� as many have tried to portray �� until now.

The action in the advancers vs. decliners in the S&P 500 has been was disappointing. Despite a 13-point rally in the S&P 500 on Tuesday, the number of advancers was actually lower than the decliners in the S&P and the broader NYSE Composite Index. So there's no question that the most recent advance in the stock market is being fueled by fewer and fewer names.

Then, there��s the percentage of stocks trading above their 200-day moving averages. That measure is rolling over, and stands well below where it was during the January highs.

Finally, the moving average convergence-divergence indicator on the NYSE advance/decline line is seeing a negative cross at a lower level than it did in June. In other words, ��lower lows�� are never good on a chart.

What do all of these indicators add up to? Consider this. When a rally in the stock market becomes narrower, it is usually a sign that the rally is running out of gas. No, it does not mean that the nine-year bull market is about to crash to an end, but it is probably telling us that the stock market should be due to see a pullback soon.

Therefore, continued breadth deterioration would be a sign investors should consider becoming a little less aggressive right now �� and look to buy on any dips, rather than chase the market at current levels.

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