Connor Clark & Lunn Investment Management Ltd. Has $7.19 Million Stake in American Eagle Outfitters, Inc. (NYSE:AEO)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,289 shares of the apparel retailer’s stock after selling 39,327 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in American Eagle Outfitters were worth $7,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new stake in American Eagle Outfitters during the third quarter valued at $32,000. Innealta Capital LLC bought a new stake in shares of American Eagle Outfitters during the 2nd quarter valued at about $78,000. nVerses Capital LLC acquired a new stake in American Eagle Outfitters during the second quarter worth approximately $108,000. Picton Mahoney Asset Management bought a new stake in American Eagle Outfitters in the second quarter worth approximately $140,000. Finally, Meeder Asset Management Inc. acquired a new position in American Eagle Outfitters in the third quarter valued at approximately $141,000. Institutional investors own 97.33% of the company’s stock.

Insider Activity at American Eagle Outfitters

In related news, Director Cary D. Mcmillan sold 2,283 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $21.49, for a total transaction of $49,061.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay L. Schottenstein sold 999,999 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.04, for a total value of $20,039,979.96. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold 1,050,702 shares of company stock valued at $21,148,718 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

American Eagle Outfitters Stock Performance

Shares of AEO opened at $17.61 on Friday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.87 and a beta of 1.52. American Eagle Outfitters, Inc. has a 52 week low of $16.34 and a 52 week high of $26.44. The stock has a 50 day moving average price of $19.91 and a two-hundred day moving average price of $20.80.

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, topping the consensus estimate of $0.38 by $0.01. American Eagle Outfitters had a return on equity of 20.98% and a net margin of 4.58%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. American Eagle Outfitters’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast 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. Investors of record on Friday, October 11th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, October 11th. American Eagle Outfitters’s payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

AEO has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group decreased their price target on shares of American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Barclays cut 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 report on Friday, August 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 target price on shares of American Eagle Outfitters in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.00.

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.