American Eagle Outfitters, Inc. (NYSE:AEO) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its holdings in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,592 shares of the apparel retailer’s stock after selling 902 shares during the period. Covestor Ltd’s holdings in American Eagle Outfitters were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kathleen S. Wright Associates Inc. purchased a new stake in shares of American Eagle Outfitters during the third quarter valued at approximately $32,000. Innealta Capital LLC purchased a new stake in shares of American Eagle Outfitters during the second quarter valued at approximately $78,000. nVerses Capital LLC purchased a new stake in shares of American Eagle Outfitters during the second quarter valued at approximately $108,000. Picton Mahoney Asset Management purchased a new stake in shares of American Eagle Outfitters during the second quarter valued at approximately $140,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of American Eagle Outfitters during the third quarter valued at approximately $199,000. 97.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. TD Cowen dropped their price target on shares of American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Telsey Advisory Group restated a “market perform” rating and issued a $23.00 price target on shares of American Eagle Outfitters in a research note on Wednesday, October 2nd. UBS Group dropped their price target on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, StockNews.com lowered shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity

In related news, CEO Jay L. Schottenstein sold 999,999 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.04, for a total value of $20,039,979.96. Following the completion of the sale, the chief executive officer now owns 1,771,851 shares of the company’s stock, valued at $35,507,894.04. This represents a 36.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cary D. Mcmillan sold 2,283 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $21.49, for a total transaction of $49,061.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,050,702 shares of company stock valued at $21,148,718. 7.30% of the stock is currently owned by company insiders.

American Eagle Outfitters Price Performance

American Eagle Outfitters stock opened at $18.20 on Friday. The company has a market cap of $3.50 billion, a PE ratio of 14.56, a P/E/G ratio of 0.89 and a beta of 1.52. The company has a fifty day moving average price of $20.10 and a two-hundred day moving average price of $21.08. American Eagle Outfitters, Inc. has a 12 month low of $15.92 and a 12 month high of $26.44.

American Eagle Outfitters (NYSE:AEO) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. American Eagle Outfitters had a net margin of 4.58% and a return on equity of 20.98%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that American Eagle Outfitters, Inc. will post 1.77 earnings per share for the current year.

American Eagle Outfitters Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Friday, October 11th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, October 11th. American Eagle Outfitters’s dividend payout ratio (DPR) is 40.00%.

American Eagle Outfitters Company Profile

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.