State of Alaska Department of Revenue Trims Stake in American Eagle Outfitters, Inc. (NYSE:AEO)

State of Alaska Department of Revenue trimmed its holdings in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 1.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 113,117 shares of the apparel retailer’s stock after selling 1,086 shares during the period. State of Alaska Department of Revenue’s holdings in American Eagle Outfitters were worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of American Eagle Outfitters by 2.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 533,824 shares of the apparel retailer’s stock worth $13,767,000 after purchasing an additional 13,780 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of American Eagle Outfitters by 81.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,564 shares of the apparel retailer’s stock worth $66,000 after purchasing an additional 1,148 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new position in shares of American Eagle Outfitters in the 1st quarter worth about $837,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of American Eagle Outfitters by 36.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 22,798 shares of the apparel retailer’s stock worth $588,000 after purchasing an additional 6,114 shares in the last quarter. Finally, Occidental Asset Management LLC purchased a new position in shares of American Eagle Outfitters in the 1st quarter worth about $1,987,000. 97.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AEO. JPMorgan Chase & Co. upgraded American Eagle Outfitters from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a report on Tuesday, April 9th. Barclays upped their price objective on American Eagle Outfitters from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Telsey Advisory Group restated a “market perform” rating and set a $25.00 target price on shares of American Eagle Outfitters in a report on Thursday, May 30th. StockNews.com upgraded American Eagle Outfitters from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Finally, Morgan Stanley dropped their target price on American Eagle Outfitters from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.00.

American Eagle Outfitters Price Performance

AEO opened at $19.22 on Friday. The business has a 50 day simple moving average of $22.16 and a two-hundred day simple moving average of $22.33. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.93 and a beta of 1.51. American Eagle Outfitters, Inc. has a one year low of $11.69 and a one year high of $26.44.

American Eagle Outfitters (NYSE:AEO) last released its quarterly earnings results on Wednesday, May 29th. The apparel retailer reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. American Eagle Outfitters had a return on equity of 19.39% and a net margin of 4.12%. American Eagle Outfitters’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. As a group, sell-side analysts expect that American Eagle Outfitters, Inc. will post 1.75 EPS for the current fiscal year.

American Eagle Outfitters Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, July 12th. American Eagle Outfitters’s payout ratio is 45.05%.

About American Eagle Outfitters

American Eagle Outfitters, Inc operates as a multi-brand specialty retailer in the United States and internationally. The company provides jeans, apparel and accessories, and personal care products for women and men under the American Eagle brand; and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands.