Cornercap Investment Counsel Inc. Decreases Stock Position in American Eagle Outfitters, Inc. (NYSE:AEO)

Cornercap Investment Counsel Inc. lessened its position in American Eagle Outfitters, Inc. (NYSE:AEO) by 60.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,936 shares of the apparel retailer’s stock after selling 33,646 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in American Eagle Outfitters were worth $491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. acquired a new stake in shares of American Eagle Outfitters in the third quarter valued at approximately $119,691,000. Victory Capital Management Inc. increased its stake in American Eagle Outfitters by 165.4% during the second quarter. Victory Capital Management Inc. now owns 3,107,933 shares of the apparel retailer’s stock worth $62,034,000 after acquiring an additional 1,936,938 shares during the last quarter. Principal Financial Group Inc. increased its stake in American Eagle Outfitters by 179.1% during the second quarter. Principal Financial Group Inc. now owns 2,691,474 shares of the apparel retailer’s stock worth $53,722,000 after acquiring an additional 1,726,982 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of American Eagle Outfitters by 36.4% during the second quarter. Jupiter Asset Management Ltd. now owns 3,242,838 shares of the apparel retailer’s stock worth $64,727,000 after buying an additional 865,355 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of American Eagle Outfitters during the second quarter worth $16,861,000. Hedge funds and other institutional investors own 97.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lowered their price target on American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. TD Cowen lowered their price target on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group lowered their price target on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 target price on shares of American Eagle Outfitters in a report on Wednesday, October 2nd. Finally, UBS Group decreased their target price on American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

American Eagle Outfitters Stock Performance

American Eagle Outfitters stock opened at $18.44 on Friday. American Eagle Outfitters, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $26.44. The company has a market capitalization of $3.54 billion, a P/E ratio of 14.75, a PEG ratio of 0.91 and a beta of 1.52. The stock has a 50-day simple moving average of $20.09 and a 200-day simple moving average of $21.01.

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

American Eagle Outfitters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Friday, October 11th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, October 11th. American Eagle Outfitters’s dividend payout ratio (DPR) is 40.00%.

Insider Buying and Selling

In other American Eagle Outfitters news, CEO Jay L. Schottenstein sold 999,999 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.04, for a total transaction of $20,039,979.96. Following the sale, the chief executive officer now owns 1,771,851 shares in the company, valued at approximately $35,507,894.04. This represents a 36.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer M. Foyle sold 30,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $21.79, for a total value of $653,700.00. Following the sale, the insider now owns 200,427 shares in the company, valued at approximately $4,367,304.33. This trade represents a 13.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,050,702 shares of company stock worth $21,148,718 in the last quarter. Company insiders own 7.30% of the company’s stock.

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.