Granite Investment Partners LLC Sells 10,012 Shares of American Eagle Outfitters, Inc. (NYSE:AEO)

Granite Investment Partners LLC reduced its stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO – Get Rating) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 756,440 shares of the apparel retailer’s stock after selling 10,012 shares during the quarter. Granite Investment Partners LLC’s holdings in American Eagle Outfitters were worth $10,560,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new stake in American Eagle Outfitters in the fourth quarter worth $29,000. Eisler Capital UK Ltd. bought a new position in shares of American Eagle Outfitters during the third quarter valued at approximately $34,000. Canada Pension Plan Investment Board bought a new position in shares of American Eagle Outfitters during the first quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd bought a new position in shares of American Eagle Outfitters during the fourth quarter valued at approximately $51,000. Finally, QVIDTVM Management LLC bought a new position in shares of American Eagle Outfitters during the third quarter valued at approximately $58,000. 93.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other American Eagle Outfitters news, EVP Michael R. Rempell sold 12,510 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $13.13, for a total transaction of $164,256.30. Following the transaction, the executive vice president now owns 172,003 shares in the company, valued at approximately $2,258,399.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael R. Rempell sold 18,997 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $14.65, for a total value of $278,306.05. Following the sale, the executive vice president now directly owns 172,003 shares of the company’s stock, valued at approximately $2,519,843.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael R. Rempell sold 12,510 shares of the 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 sale, the executive vice president now directly owns 172,003 shares in the company, valued at $2,258,399.39. The disclosure for this sale can be found here. Insiders sold a total of 43,202 shares of company stock worth $599,822 in the last 90 days. 7.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEO. UBS Group decreased their target price on shares of American Eagle Outfitters from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 29th. JPMorgan Chase & Co. lifted their price target on shares of American Eagle Outfitters from $14.00 to $15.00 in a research note on Monday, May 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of American Eagle Outfitters from $17.00 to $14.00 in a research note on Thursday. Bank of America decreased their price objective on shares of American Eagle Outfitters from $14.00 to $9.00 in a research report on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of American Eagle Outfitters in a report on Thursday, March 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.38.

American Eagle Outfitters Trading Up 0.7 %

American Eagle Outfitters stock traded up $0.07 during trading hours on Friday, hitting $10.70. The company had a trading volume of 3,977,512 shares, compared to its average volume of 4,083,970. The firm has a market cap of $2.11 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.85 and a beta of 1.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.43. American Eagle Outfitters, Inc. has a 1 year low of $9.46 and a 1 year high of $17.09. The company has a 50-day moving average price of $13.10 and a two-hundred day moving average price of $14.17.

American Eagle Outfitters (NYSE:AEO – Get Rating) last released its quarterly earnings data on Wednesday, May 24th. The apparel retailer reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. American Eagle Outfitters had a net margin of 2.23% and a return on equity of 13.20%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.16 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that American Eagle Outfitters, Inc. will post 1.12 earnings per share for the current year.

American Eagle Outfitters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 21st. Stockholders of record on Thursday, April 6th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.40 annualized dividend and a dividend yield of 3.74%. American Eagle Outfitters’s payout ratio is presently 72.73%.

American Eagle Outfitters Company Profile

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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.