PNC Financial Services Group Inc. Sells 6,902 Shares of American Eagle Outfitters, Inc. (NYSE:AEO)

PNC Financial Services Group Inc. reduced its holdings in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 27.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,683 shares of the apparel retailer’s stock after selling 6,902 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American Eagle Outfitters were worth $701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AEO. Marshall Wace LLP bought a new position in shares of American Eagle Outfitters during the 1st quarter worth approximately $198,000. FMR LLC grew its stake in shares of American Eagle Outfitters by 80.5% during the 1st quarter. FMR LLC now owns 2,152,703 shares of the apparel retailer’s stock worth $47,726,000 after acquiring an additional 960,273 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of American Eagle Outfitters by 2.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 94,990 shares of the apparel retailer’s stock worth $2,106,000 after acquiring an additional 2,374 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of American Eagle Outfitters during the 1st quarter worth approximately $29,000. Finally, Natixis Advisors L.P. acquired a new stake in shares of American Eagle Outfitters in the 1st quarter valued at approximately $424,000.

In other news, insider Jennifer M. Foyle sold 5,920 shares of American Eagle Outfitters stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $35.00, for a total transaction of $207,200.00. Following the sale, the insider now directly owns 115,711 shares of the company’s stock, valued at $4,049,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew J. Mclean sold 15,431 shares of American Eagle Outfitters stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $35.00, for a total value of $540,085.00. Following the sale, the executive vice president now directly owns 38,198 shares in the company, valued at $1,336,930. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,633 shares of company stock worth $1,305,920. Company insiders own 8.20% of the company’s stock.

Several equities research analysts have recently commented on AEO shares. Jefferies Financial Group increased their price objective on American Eagle Outfitters from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 27th. Morgan Stanley reissued a “hold” rating and issued a $29.00 price objective on shares of American Eagle Outfitters in a report on Friday, September 3rd. Telsey Advisory Group cut their price objective on American Eagle Outfitters from $38.00 to $31.00 and set a “market perform” rating for the company in a report on Friday, September 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on American Eagle Outfitters from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, September 3rd. Finally, Zacks Investment Research downgraded American Eagle Outfitters from a “strong-buy” rating to a “hold” rating and set a $37.00 price target for the company. in a report on Tuesday, June 15th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $33.65.

Shares of NYSE AEO opened at $26.14 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 2.08. American Eagle Outfitters, Inc. has a 52 week low of $13.36 and a 52 week high of $38.99. The stock has a market capitalization of $4.41 billion, a P/E ratio of 18.94 and a beta of 1.43. The stock’s fifty day moving average is $32.50 and its 200 day moving average is $32.95.

American Eagle Outfitters (NYSE:AEO) last issued its quarterly earnings results on Wednesday, September 1st. The apparel retailer reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. American Eagle Outfitters had a return on equity of 31.70% and a net margin of 6.12%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business earned ($0.03) earnings per share. American Eagle Outfitters’s revenue was up 35.1% on a year-over-year basis. Equities research analysts forecast that American Eagle Outfitters, Inc. will post 2.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 22nd. Investors of record on Friday, October 8th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, October 7th. American Eagle Outfitters’s payout ratio is currently 360.00%.

American Eagle Outfitters Profile

American Eagle Outfitters, Inc is a multi-brand specialty retailer, which offers an assortment of apparel and accessories for men and women under the American Eagle Outfitters brand, and intimates, apparel and personal care products for women under the Aerie brand. The firm operates stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom.

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Institutional Ownership by Quarter for American Eagle Outfitters (NYSE:AEO)

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