American Eagle Outfitters, Inc. $AEO Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in American Eagle Outfitters, Inc. (NYSE:AEO) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,026,972 shares of the apparel retailer’s stock after selling 165,668 shares during the quarter. Bank of New York Mellon Corp’s holdings in American Eagle Outfitters were worth $19,499,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AEO. Bank of Montreal Can lifted its stake in American Eagle Outfitters by 18.7% in the 2nd quarter. Bank of Montreal Can now owns 36,687 shares of the apparel retailer’s stock valued at $353,000 after buying an additional 5,786 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of American Eagle Outfitters in the second quarter valued at $468,000. Atria Investments Inc lifted its position in shares of American Eagle Outfitters by 38.2% in the second quarter. Atria Investments Inc now owns 25,473 shares of the apparel retailer’s stock valued at $245,000 after acquiring an additional 7,040 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of American Eagle Outfitters by 124.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 401,468 shares of the apparel retailer’s stock valued at $3,862,000 after acquiring an additional 222,942 shares during the last quarter. Finally, Delta Investment Management LLC purchased a new stake in American Eagle Outfitters during the 2nd quarter worth about $144,000. 97.33% of the stock is owned by hedge funds and other institutional investors.

American Eagle Outfitters Stock Performance

NYSE:AEO opened at $17.57 on Monday. The company has a market cap of $2.97 billion, a P/E ratio of 16.89 and a beta of 1.58. The firm’s 50 day moving average is $17.09 and its two-hundred day moving average is $13.35. American Eagle Outfitters, Inc. has a fifty-two week low of $9.27 and a fifty-two week high of $20.55. The company has a quick ratio of 0.71, a current ratio of 1.62 and a debt-to-equity ratio of 0.13.

American Eagle Outfitters (NYSE:AEO) last announced its quarterly earnings data on Wednesday, September 3rd. The apparel retailer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. American Eagle Outfitters had a net margin of 3.74% and a return on equity of 13.67%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts expect that American Eagle Outfitters, Inc. will post 1.7 EPS for the current year.

American Eagle Outfitters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 29th. Stockholders of record on Friday, October 10th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, October 10th. American Eagle Outfitters’s dividend payout ratio (DPR) is 48.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BTIG Research started coverage on shares of American Eagle Outfitters in a research note on Thursday, September 18th. They set a “neutral” rating on the stock. Jefferies Financial Group raised their target price on shares of American Eagle Outfitters from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, September 4th. Morgan Stanley lifted their target price on shares of American Eagle Outfitters from $10.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 18th. Bank of America reissued an “underperform” rating and set a $10.00 price target (down previously from $11.00) on shares of American Eagle Outfitters in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $9.00 price objective on shares of American Eagle Outfitters in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.06.

Insiders Place Their Bets

In other news, Director David M. Sable sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $19.22, for a total transaction of $96,100.00. Following the completion of the sale, the director owned 48,640 shares in the company, valued at approximately $934,860.80. The trade was a 9.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer M. Foyle sold 54,950 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $18.14, for a total transaction of $996,793.00. Following the completion of the transaction, the insider owned 221,107 shares in the company, valued at $4,010,880.98. The trade was a 19.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 138,766 shares of company stock worth $2,515,354. 8.70% of the stock is owned by insiders.

American Eagle Outfitters Company 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.