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

Convergence Investment Partners LLC cut its holdings in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 18.5% during the first quarter, HoldingsChannel.com reports. The fund owned 184,222 shares of the apparel retailer’s stock after selling 41,741 shares during the period. Convergence Investment Partners LLC’s holdings in American Eagle Outfitters were worth $3,077,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AEO. Vanguard Group Inc. lifted its stake in American Eagle Outfitters by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 18,398,401 shares of the apparel retailer’s stock worth $485,166,000 after purchasing an additional 249,158 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of American Eagle Outfitters by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,261,614 shares of the apparel retailer’s stock valued at $154,663,000 after purchasing an additional 509,326 shares during the last quarter. State Street Corp increased its holdings in shares of American Eagle Outfitters by 0.6% in the fourth quarter. State Street Corp now owns 6,606,362 shares of the apparel retailer’s stock valued at $174,210,000 after purchasing an additional 39,334 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in American Eagle Outfitters by 12.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,000,419 shares of the apparel retailer’s stock worth $158,231,000 after buying an additional 680,332 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in American Eagle Outfitters by 920.6% in the 3rd quarter. Marshall Wace LLP now owns 5,497,720 shares of the apparel retailer’s stock valued at $94,066,000 after buying an additional 4,959,039 shares in the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.

Insider Transactions at American Eagle Outfitters

In other news, Director Noel Joseph Spiegel sold 2,892 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.78, for a total value of $48,527.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cary D. Mcmillan sold 2,892 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.77, for a total transaction of $48,498.84. The SEC filing for this sale provides additional information. 8.95% of the stock is owned by corporate insiders.

American Eagle Outfitters Price Performance

American Eagle Outfitters 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 market capitalization of $2.94 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 3.72 and a beta of 1.31. American Eagle Outfitters, Inc. has a 1 year low of $9.86 and a 1 year high of $28.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.53 and a current ratio of 1.55.

American Eagle Outfitters (NYSE:AEO) last posted its 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 the consensus estimate of $1.18 billion. American Eagle Outfitters had a net margin of 5.01% and a return on equity of 20.95%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. As a group, equities research analysts expect that American Eagle Outfitters, Inc. will post 1.76 earnings per share for the current year.

American Eagle Outfitters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, July 10th. American Eagle Outfitters’s payout ratio is currently 30.86%.

Wall Street Analyst Weigh In

AEO has been the topic of several recent research reports. Needham & Company LLC initiated coverage on shares of American Eagle Outfitters in a research report on Thursday, March 26th. They set a “hold” rating on the stock. William Blair restated a “buy” rating on shares of American Eagle Outfitters in a research report on Wednesday, July 15th. Bank of America reduced their target price on shares of American Eagle Outfitters from $20.00 to $16.00 and set an “underperform” rating on the stock in a research note on Friday, May 29th. TD Cowen decreased their target price on shares of American Eagle Outfitters from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen cut shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.91.

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.