JPMorgan Chase & Co. Trims Position in American Eagle Outfitters, Inc. $AEO

JPMorgan Chase & Co. cut its stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 826,448 shares of the apparel retailer’s stock after selling 258,348 shares during the period. JPMorgan Chase & Co. owned 0.49% of American Eagle Outfitters worth $14,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL boosted its position in shares of American Eagle Outfitters by 50.0% in the third quarter. Strategic Investment Solutions Inc. IL now owns 1,500 shares of the apparel retailer’s stock valued at $26,000 after acquiring an additional 500 shares during the period. Strs Ohio bought a new stake in American Eagle Outfitters during the 3rd quarter worth approximately $36,000. McIlrath & Eck LLC purchased a new stake in American Eagle Outfitters in the 3rd quarter worth approximately $39,000. Larson Financial Group LLC boosted its holdings in American Eagle Outfitters by 8,432.1% in the 3rd quarter. Larson Financial Group LLC now owns 2,389 shares of the apparel retailer’s stock valued at $41,000 after purchasing an additional 2,361 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in American Eagle Outfitters by 1,655.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,475 shares of the apparel retailer’s stock valued at $42,000 after purchasing an additional 2,334 shares during the period. 97.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank Of Canada set a $23.00 price target on shares of American Eagle Outfitters in a research report on Wednesday, December 3rd. The Goldman Sachs Group assumed coverage on American Eagle Outfitters in a research report on Thursday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. TD Cowen decreased their target price on American Eagle Outfitters from $27.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. raised American Eagle Outfitters from an “underweight” rating to a “neutral” rating and raised their price target for the company from $14.00 to $20.00 in a report on Wednesday, December 3rd. Finally, Needham & Company LLC started coverage on American Eagle Outfitters in a research report on Thursday. They set a “hold” rating for the company. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $21.75.

American Eagle Outfitters Stock Performance

NYSE AEO opened at $16.09 on Friday. American Eagle Outfitters, Inc. has a 52-week low of $9.27 and a 52-week high of $28.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.71 and a current ratio of 1.52. The company has a market capitalization of $2.73 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.17 and a beta of 1.39. The company has a fifty day moving average of $22.09 and a 200-day moving average of $21.01.

American Eagle Outfitters (NYSE:AEO) last announced its earnings results on Wednesday, March 4th. The apparel retailer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. American Eagle Outfitters had a net margin of 3.49% and a return on equity of 16.76%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts predict that American Eagle Outfitters, Inc. will post 1.7 EPS for the current fiscal year.

American Eagle Outfitters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, April 10th. American Eagle Outfitters’s dividend payout ratio is presently 44.64%.

Insider Activity

In related news, Director Noel Joseph Spiegel sold 1,896 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $25.66, for a total value of $48,651.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cary D. Mcmillan sold 1,896 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $26.21, for a total value of $49,694.16. The disclosure for this sale is available in the SEC filing. 8.70% of the stock is currently owned by corporate insiders.

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.