American Eagle Outfitters, Inc. $AEO Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its holdings in American Eagle Outfitters, Inc. (NYSE:AEO) by 18.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,222 shares of the apparel retailer’s stock after selling 41,741 shares during the period. Convergence Investment Partners LLC owned about 0.11% of American Eagle Outfitters worth $3,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in shares of American Eagle Outfitters during the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd purchased a new stake in American Eagle Outfitters in the fourth quarter valued at $32,000. Raymond James Financial Inc. acquired a new stake in American Eagle Outfitters during the 2nd quarter worth about $35,000. Federated Hermes Inc. grew its position in American Eagle Outfitters by 151.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,848 shares of the apparel retailer’s stock worth $37,000 after purchasing an additional 2,315 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of American Eagle Outfitters by 8,432.1% during the 3rd quarter. Larson Financial Group LLC now owns 2,389 shares of the apparel retailer’s stock valued at $41,000 after buying an additional 2,361 shares during the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AEO shares. TD Cowen decreased their price objective on American Eagle Outfitters from $19.00 to $18.00 and set a “hold” rating for the company in a report on Monday, May 18th. Needham & Company LLC assumed coverage on American Eagle Outfitters in a report on Thursday, March 26th. They set a “hold” rating on the stock. Bank of America reduced their price target on American Eagle Outfitters from $20.00 to $16.00 and set an “underperform” rating for the company in a research report on Friday, May 29th. UBS Group reissued a “buy” rating on shares of American Eagle Outfitters in a report on Wednesday, July 15th. Finally, Barclays lowered their price objective on American Eagle Outfitters from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.91.

Insider Buying and Selling

In other American Eagle Outfitters news, Director Noel Joseph Spiegel sold 2,892 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $16.78, for a total transaction of $48,527.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cary D. Mcmillan sold 2,892 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $16.77, for a total transaction of $48,498.84. The disclosure for this sale is available in the SEC filing. 8.95% of the stock is owned by insiders.

American Eagle Outfitters Trading Up 3.1%

AEO stock opened at $17.56 on Tuesday. The company’s 50-day simple moving average is $16.91 and its 200-day simple moving average is $19.71. The company has a quick ratio of 0.53, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. American Eagle Outfitters, Inc. has a 52-week low of $9.86 and a 52-week high of $28.46. The firm has a market cap of $2.94 billion, a P/E ratio of 10.84, a PEG ratio of 3.72 and a beta of 1.31.

American Eagle Outfitters (NYSE:AEO) last announced its quarterly earnings results on Thursday, May 28th. The apparel retailer reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. American Eagle Outfitters had a return on equity of 20.95% and a net margin of 5.01%.American Eagle Outfitters’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) EPS. As a group, equities analysts forecast that American Eagle Outfitters, Inc. will post 1.76 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, July 24th. Stockholders of record on Friday, July 10th will be given a $0.125 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.8%. American Eagle Outfitters’s payout ratio is 30.86%.

American Eagle Outfitters Profile

American Eagle Outfitters, Inc (NYSE: AEO) is a leading American specialty retailer offering apparel, accessories and personal care products for men and women. The company’s flagship brand, American Eagle, focuses on casualwear including denim, tops, outerwear and accessories targeted primarily at teens and young adults. In addition to its core apparel lines, the company operates the Aerie brand of intimates, loungewear and swimwear, which has gained recognition for its body-positive marketing and inclusive sizing.

American Eagle Outfitters conducts business through a combination of over 900 brick-and-mortar stores in North America and Greater China, complemented by a growing e-commerce platform that serves customers around the globe.