Fmr LLC Sells 5,012,995 Shares of American Eagle Outfitters, Inc. (NYSE:AEO)

Fmr LLC reduced its holdings in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,394,706 shares of the apparel retailer’s stock after selling 5,012,995 shares during the period. Fmr LLC owned 8.02% of American Eagle Outfitters worth $344,687,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AEO. Congress Asset Management Co. purchased a new stake in shares of American Eagle Outfitters in the 3rd quarter worth approximately $119,691,000. Victory Capital Management Inc. grew its stake in shares of American Eagle Outfitters by 165.4% in the second 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. Principal Financial Group Inc. increased its holdings in shares of American Eagle Outfitters by 179.1% during the second quarter. Principal Financial Group Inc. now owns 2,691,474 shares of the apparel retailer’s stock valued at $53,722,000 after acquiring an additional 1,726,982 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of American Eagle Outfitters by 36.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,242,838 shares of the apparel retailer’s stock worth $64,727,000 after purchasing an additional 865,355 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in American Eagle Outfitters in the 2nd quarter worth about $16,861,000. Institutional investors own 97.33% of the company’s stock.

American Eagle Outfitters Trading Up 3.6 %

Shares of AEO stock opened at $19.24 on Friday. American Eagle Outfitters, Inc. has a 12 month low of $16.88 and a 12 month high of $26.44. The stock has a market cap of $3.70 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.93 and a beta of 1.52. The company has a 50 day simple moving average of $19.79 and a two-hundred day simple moving average of $20.60.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.31 billion. American Eagle Outfitters had a return on equity of 20.98% and a net margin of 4.58%. American Eagle Outfitters’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Friday, October 11th were given a dividend of $0.125 per share. The ex-dividend date was Friday, October 11th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.60%. American Eagle Outfitters’s payout ratio is currently 40.00%.

Insider Buying and Selling

In related news, CEO Jay L. Schottenstein sold 999,999 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 1,771,851 shares of the company’s stock, valued at approximately $35,507,894.04. This represents a 36.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cary D. Mcmillan sold 2,283 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $21.49, for a total value of $49,061.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,050,702 shares of company stock valued at $21,148,718. 7.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AEO has been the topic of a number of recent analyst reports. StockNews.com cut shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group reduced their target price on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $23.00 price objective on shares of American Eagle Outfitters in a research report on Wednesday. UBS Group decreased their target price on 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. Finally, Barclays dropped their price target on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.00.

American Eagle Outfitters Profile

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.