Victory Capital Management Inc. Reduces Stock Holdings in American Eagle Outfitters, Inc. (NYSE:AEO)

Victory Capital Management Inc. lowered its position in shares of American Eagle Outfitters, Inc. (NYSE:AEO – Get Rating) by 24.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 540,886 shares of the apparel retailer’s stock after selling 173,885 shares during the quarter. Victory Capital Management Inc.’s holdings in American Eagle Outfitters were worth $8,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new stake in American Eagle Outfitters during the 4th quarter worth about $29,000. Canada Pension Plan Investment Board acquired a new stake in American Eagle Outfitters during the 1st quarter worth about $37,000. Eisler Capital UK Ltd. acquired a new stake in American Eagle Outfitters during the 3rd quarter worth about $34,000. Harvest Fund Management Co. Ltd acquired a new stake in American Eagle Outfitters during the 4th quarter worth about $51,000. Finally, QVIDTVM Management LLC acquired a new stake in American Eagle Outfitters during the 3rd quarter worth about $58,000. Institutional investors and hedge funds own 93.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AEO. Jefferies Financial Group lowered their price target on American Eagle Outfitters from $16.00 to $14.00 in a research report on Tuesday, May 9th. UBS Group decreased their price objective on American Eagle Outfitters from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 29th. Citigroup decreased their price objective on American Eagle Outfitters from $17.00 to $14.00 in a report on Thursday, May 18th. BMO Capital Markets decreased their price objective on American Eagle Outfitters from $14.00 to $10.00 in a report on Thursday. Finally, StockNews.com initiated coverage on American Eagle Outfitters in a report on Thursday, May 18th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.38.

American Eagle Outfitters Price Performance

NYSE:AEO opened at $10.63 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $13.10 and a two-hundred day moving average of $14.17. The firm has a market cap of $2.10 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.52. American Eagle Outfitters, Inc. has a 12 month low of $9.46 and a 12 month high of $17.09.

American Eagle Outfitters (NYSE:AEO – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The apparel retailer reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. American Eagle Outfitters had a return on equity of 13.27% and a net margin of 2.51%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. On average, analysts expect that American Eagle Outfitters, Inc. will post 1.12 earnings per share for the current fiscal year.

American Eagle Outfitters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Thursday, April 6th were given a $0.10 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $0.40 annualized dividend and a yield of 3.76%. American Eagle Outfitters’s payout ratio is 64.52%.

Insider Buying and Selling

In related news, EVP Michael R. Rempell sold 12,510 shares of the stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $13.13, for a total value of $164,256.30. Following the completion of the transaction, the executive vice president now directly owns 172,003 shares in the company, valued at $2,258,399.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other American Eagle Outfitters news, EVP Michael R. Rempell sold 12,510 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $13.13, for a total transaction of $164,256.30. Following the transaction, the executive vice president now directly owns 172,003 shares in the company, valued at $2,258,399.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael R. Rempell sold 5,761 shares of the stock in a transaction on Friday, March 31st. The shares were sold at an average price of $13.33, for a total value of $76,794.13. Following the completion of the sale, the executive vice president now owns 172,003 shares in the company, valued at $2,292,799.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,202 shares of company stock worth $599,822. Company insiders own 7.50% of the company’s stock.

About American Eagle Outfitters

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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.