American Eagle Outfitters (NYSE:AEO) Stock Price Down 0.7% – Here’s What Happened

Shares of American Eagle Outfitters, Inc. (NYSE:AEO) dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $17.56 and last traded at $17.58. Approximately 772,120 shares traded hands during trading, a decline of 83% from the average daily volume of 4,657,172 shares. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

Several brokerages have commented on AEO. BMO Capital Markets dropped their price target on shares of American Eagle Outfitters from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, December 5th. Jefferies Financial Group decreased their target price 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 lowered their price objective on shares of American Eagle Outfitters from $23.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, December 5th. TD Cowen dropped their target price on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Finally, Raymond James began coverage on shares of American Eagle Outfitters in a research note on Friday. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.40.

American Eagle Outfitters Stock Performance

The company has a 50-day moving average of $19.27 and a 200 day moving average of $20.28. The firm has a market cap of $3.30 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.12 and a beta of 1.51.

American Eagle Outfitters (NYSE:AEO) last issued its earnings results on Wednesday, December 4th. The apparel retailer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. American Eagle Outfitters had a net margin of 4.28% and a return on equity of 20.75%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. Sell-side analysts anticipate that American Eagle Outfitters, Inc. will post 1.69 EPS for the current fiscal year.

American Eagle Outfitters Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.125 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.50 annualized dividend and a yield of 2.91%. American Eagle Outfitters’s payout ratio is 42.74%.

Insider Transactions at American Eagle Outfitters

In related news, CEO Jay L. Schottenstein sold 999,999 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 36.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David M. Sable sold 18,420 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $22.04, for a total value of $405,976.80. Following the completion of the transaction, the director now owns 39,356 shares in the company, valued at $867,406.24. The trade was a 31.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,050,702 shares of company stock worth $21,148,718. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On American Eagle Outfitters

Large investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in American Eagle Outfitters during the third quarter worth about $3,731,000. NFJ Investment Group LLC acquired a new stake in shares of American Eagle Outfitters in the 3rd quarter valued at approximately $2,680,000. Victory Capital Management Inc. boosted its stake in American Eagle Outfitters by 165.4% during the 2nd 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. Renaissance Technologies LLC acquired a new position in American Eagle Outfitters during the second quarter valued at approximately $16,861,000. Finally, Dupree Financial Group LLC bought a new stake in American Eagle Outfitters in the third quarter valued at approximately $3,146,000. 97.33% of the stock is currently owned by institutional investors and hedge funds.

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.