American Eagle Outfitters, Inc. (NYSE:AEO) Stock Position Cut by Pitcairn Co.

Pitcairn Co. trimmed its stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 15.8% during the third quarter, Holdings Channel reports. The institutional investor owned 22,700 shares of the apparel retailer’s stock after selling 4,262 shares during the period. Pitcairn Co.’s holdings in American Eagle Outfitters were worth $508,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of American Eagle Outfitters by 41.0% during the third quarter. Citigroup Inc. now owns 239,688 shares of the apparel retailer’s stock valued at $5,367,000 after acquiring an additional 69,662 shares during the period. Investors Research Corp increased its position in shares of American Eagle Outfitters by 1.4% during the 3rd quarter. Investors Research Corp now owns 46,239 shares of the apparel retailer’s stock valued at $1,035,000 after purchasing an additional 650 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of American Eagle Outfitters by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,496,916 shares of the apparel retailer’s stock worth $55,906,000 after buying an additional 281,548 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in shares of American Eagle Outfitters by 205.6% in the third quarter. Landscape Capital Management L.L.C. now owns 310,508 shares of the apparel retailer’s stock valued at $6,952,000 after buying an additional 208,895 shares during the period. Finally, Intech Investment Management LLC bought a new position in American Eagle Outfitters during the third quarter valued at about $3,731,000. 97.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Eagle Outfitters

In other 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 transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer M. Foyle sold 30,000 shares of American Eagle Outfitters stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $21.79, for a total value of $653,700.00. Following the sale, the insider now directly owns 200,427 shares of the company’s stock, valued at approximately $4,367,304.33. The trade was a 13.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,050,702 shares of company stock valued at $21,148,718 over the last three months. 7.30% of the stock is owned by corporate insiders.

American Eagle Outfitters Stock Performance

NYSE AEO opened at $18.67 on Tuesday. The firm’s 50 day moving average price is $19.90 and its two-hundred day moving average price is $20.71. American Eagle Outfitters, Inc. has a twelve month low of $16.57 and a twelve month high of $26.44. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.88 and a beta of 1.52.

American Eagle Outfitters (NYSE:AEO) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, research analysts forecast that American Eagle Outfitters, Inc. will post 1.77 EPS for the current fiscal year.

American Eagle Outfitters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Friday, October 11th were issued a $0.125 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.68%. American Eagle Outfitters’s dividend payout ratio is 40.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AEO shares. UBS Group dropped their price target on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. TD Cowen cut their target price on shares of American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Barclays reduced their target price on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price target on shares of American Eagle Outfitters in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group reduced their price objective on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Eagle Outfitters has an average rating of “Hold” and an average target price of $25.00.

About American Eagle Outfitters

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.