Geode Capital Management LLC Sells 19,955 Shares of American Eagle Outfitters, Inc. (NYSE:AEO)

Geode Capital Management LLC trimmed its position in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,125,840 shares of the apparel retailer’s stock after selling 19,955 shares during the quarter. Geode Capital Management LLC’s holdings in American Eagle Outfitters were worth $92,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new position in American Eagle Outfitters in the third quarter valued at about $32,000. Advisors Asset Management Inc. boosted its holdings in shares of American Eagle Outfitters by 171.1% in the third quarter. Advisors Asset Management Inc. now owns 2,548 shares of the apparel retailer’s stock worth $57,000 after buying an additional 1,608 shares during the last quarter. Innealta Capital LLC bought a new stake in American Eagle Outfitters during the second quarter valued at approximately $78,000. nVerses Capital LLC purchased a new stake in American Eagle Outfitters during the second quarter valued at approximately $108,000. Finally, Picton Mahoney Asset Management purchased a new stake in American Eagle Outfitters during the second quarter valued at approximately $140,000. 97.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, August 30th. BMO Capital Markets cut their price target on American Eagle Outfitters from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, December 5th. StockNews.com cut American Eagle Outfitters from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Telsey Advisory Group lowered their price objective on American Eagle Outfitters from $23.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $23.00 target price (down from $27.00) on shares of American Eagle Outfitters in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.40.

American Eagle Outfitters Price Performance

AEO stock opened at $16.36 on Friday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.12 and a beta of 1.51. American Eagle Outfitters, Inc. has a 1-year low of $16.20 and a 1-year high of $26.44. The business has a 50 day simple moving average of $18.85 and a two-hundred day simple moving average of $20.07.

American Eagle Outfitters (NYSE:AEO) last posted its earnings results on Wednesday, December 4th. The apparel retailer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. American Eagle Outfitters had a net margin of 4.28% and a return on equity of 20.75%. American Eagle Outfitters’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share. Sell-side analysts anticipate that American Eagle Outfitters, Inc. will post 1.69 EPS for the current fiscal year.

American Eagle Outfitters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.50 annualized dividend and a dividend yield of 3.06%. American Eagle Outfitters’s dividend payout ratio (DPR) is 42.74%.

Insider Buying and Selling

In other news, insider Jennifer M. Foyle sold 30,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,367,304.33. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cary D. Mcmillan sold 2,283 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $21.49, for a total transaction of $49,061.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,703 shares of company stock worth $1,108,738. Corporate insiders own 7.30% of the company’s stock.

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.