SummerHaven Investment Management LLC Invests $1.43 Million in American Eagle Outfitters, Inc. $AEO

SummerHaven Investment Management LLC bought a new position in shares of American Eagle Outfitters, Inc. (NYSE:AEO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,366 shares of the apparel retailer’s stock, valued at approximately $1,426,000. American Eagle Outfitters comprises 0.8% of SummerHaven Investment Management LLC’s portfolio, making the stock its biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of American Eagle Outfitters by 24.8% in the first quarter. Royal Bank of Canada now owns 162,243 shares of the apparel retailer’s stock valued at $1,885,000 after purchasing an additional 32,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in American Eagle Outfitters by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,726 shares of the apparel retailer’s stock valued at $1,229,000 after buying an additional 4,599 shares during the period. Jones Financial Companies Lllp increased its stake in shares of American Eagle Outfitters by 1,238.2% during the 1st quarter. Jones Financial Companies Lllp now owns 52,551 shares of the apparel retailer’s stock valued at $611,000 after acquiring an additional 48,624 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of American Eagle Outfitters by 9.6% during the 1st quarter. Empowered Funds LLC now owns 15,937 shares of the apparel retailer’s stock worth $185,000 after acquiring an additional 1,398 shares during the period. Finally, Polaris Capital Management LLC grew its holdings in American Eagle Outfitters by 8.7% in the second quarter. Polaris Capital Management LLC now owns 89,600 shares of the apparel retailer’s stock valued at $862,000 after purchasing an additional 7,200 shares during the period. 97.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jennifer M. Foyle sold 243,047 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $24.30, for a total value of $5,906,042.10. Following the completion of the sale, the insider 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. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Noel Joseph Spiegel sold 1,896 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $25.66, for a total transaction of $48,651.36. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 246,839 shares of company stock worth $6,004,388. 8.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AEO shares. Barclays lifted their price target on shares of American Eagle Outfitters from $20.00 to $24.00 and gave the company an “underweight” rating in a report on Tuesday, January 6th. Zacks Research upgraded American Eagle Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Citigroup lifted their price objective on American Eagle Outfitters from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Telsey Advisory Group increased their target price on shares of American Eagle Outfitters from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 13th. Finally, The Goldman Sachs Group started coverage on shares of American Eagle Outfitters in a research note on Thursday, December 11th. They set a “neutral” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.45.

American Eagle Outfitters Stock Performance

American Eagle Outfitters stock opened at $23.43 on Wednesday. American Eagle Outfitters, Inc. has a 12-month low of $9.27 and a 12-month high of $28.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.63 and a quick ratio of 0.59. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 7.77 and a beta of 1.39. The firm’s fifty day moving average price is $24.61 and its 200 day moving average price is $18.40.

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

American Eagle Outfitters Dividend Announcement

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

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.