SummerHaven Investment Management LLC Acquires New Position in American Eagle Outfitters, Inc. $AEO

SummerHaven Investment Management LLC bought a new position in American Eagle Outfitters, Inc. (NYSE:AEO) in the third quarter, HoldingsChannel reports. The fund bought 83,366 shares of the apparel retailer’s stock, valued at approximately $1,426,000. American Eagle Outfitters makes up approximately 0.8% of SummerHaven Investment Management LLC’s portfolio, making the stock its biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. increased its position in American Eagle Outfitters by 41.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,307,326 shares of the apparel retailer’s stock worth $22,196,000 after purchasing an additional 678,536 shares during the last quarter. XTX Topco Ltd grew its stake in shares of American Eagle Outfitters by 59.6% in the 2nd quarter. XTX Topco Ltd now owns 108,644 shares of the apparel retailer’s stock valued at $1,045,000 after buying an additional 40,563 shares in the last quarter. Savant Capital LLC increased its holdings in American Eagle Outfitters by 170.8% in the second quarter. Savant Capital LLC now owns 41,165 shares of the apparel retailer’s stock worth $396,000 after buying an additional 25,962 shares during the last quarter. Caxton Associates LLP raised its position in American Eagle Outfitters by 212.2% during the second quarter. Caxton Associates LLP now owns 230,312 shares of the apparel retailer’s stock valued at $2,216,000 after acquiring an additional 156,544 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in American Eagle Outfitters in the third quarter valued at approximately $895,000. 97.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Eagle Outfitters

In other news, Director Cary D. Mcmillan sold 1,896 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $26.21, for a total value of $49,694.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer M. Foyle sold 243,047 shares of American Eagle Outfitters stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $24.30, for a total transaction of $5,906,042.10. Following the transaction, the insider directly owned 191,751 shares of the company’s stock, valued at $4,659,549.30. This represents a 55.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 246,839 shares of company stock valued at $6,004,388 in the last 90 days. 8.70% of the stock is owned by corporate insiders.

American Eagle Outfitters Stock Performance

NYSE:AEO opened at $23.43 on Wednesday. The firm’s 50-day moving average is $24.61 and its 200-day moving average is $18.40. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 7.77 and a beta of 1.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.59 and a current ratio of 1.63. American Eagle Outfitters, Inc. has a 52-week low of $9.27 and a 52-week high of $28.46.

American Eagle Outfitters (NYSE:AEO) last announced its quarterly earnings data on Tuesday, December 2nd. The apparel retailer reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.32 billion. American Eagle Outfitters had a return on equity of 13.82% and a net margin of 3.90%.The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. Equities research analysts anticipate that American Eagle Outfitters, Inc. will post 1.7 earnings per share for the current year.

American Eagle Outfitters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 9th were paid a $0.125 dividend. The ex-dividend date was Friday, January 9th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.1%. American Eagle Outfitters’s dividend payout ratio is currently 43.10%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AEO. JPMorgan Chase & Co. upgraded shares of 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. The Goldman Sachs Group initiated coverage on American Eagle Outfitters in a report on Thursday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Royal Bank Of Canada set a $23.00 price target on American Eagle Outfitters in a research note on Wednesday, December 3rd. Morgan Stanley set a $23.00 price objective on American Eagle Outfitters in a report on Wednesday, December 3rd. Finally, Zacks Research upgraded American Eagle Outfitters from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.45.

American Eagle Outfitters Company 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.