Freestone Grove Partners LP Invests $23.70 Million in American Eagle Outfitters, Inc. $AEO

Freestone Grove Partners LP acquired a new position in shares of American Eagle Outfitters, Inc. (NYSE:AEO) in the second quarter, Holdings Channel reports. The firm acquired 1,377,788 shares of the apparel retailer’s stock, valued at approximately $23,698,000.

Other institutional investors also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new position in American Eagle Outfitters in the second quarter valued at about $25,000. Kemnay Advisory Services Inc. acquired a new stake in American Eagle Outfitters in the fourth quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in American Eagle Outfitters in the fourth quarter valued at approximately $32,000. Raymond James Financial Inc. purchased a new position in American Eagle Outfitters in the second quarter worth $35,000. Finally, Allworth Financial LP purchased a new position in American Eagle Outfitters in the second quarter worth $36,000. Institutional investors own 97.33% of the company’s stock.

American Eagle Outfitters Trading Down 5.5%

Shares of NYSE AEO opened at $16.63 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.53 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.79 billion, a PE ratio of 10.26, a PEG ratio of 3.84 and a beta of 1.32. American Eagle Outfitters, Inc. has a twelve month low of $12.60 and a twelve month high of $28.46. The stock has a fifty day simple moving average of $17.14 and a 200-day simple moving average of $18.11.

American Eagle Outfitters (NYSE:AEO) last posted its earnings results on Thursday, May 28th. The apparel retailer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. American Eagle Outfitters had a return on equity of 20.95% and a net margin of 5.01%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the company earned ($0.29) EPS. American Eagle Outfitters’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that American Eagle Outfitters, Inc. will post 1.76 earnings per share for the current year.

American Eagle Outfitters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $0.50 annualized dividend and a dividend yield of 3.0%. American Eagle Outfitters’s dividend payout ratio (DPR) is presently 30.86%.

Insider Activity at American Eagle Outfitters

In related news, Director Cary D. Mcmillan sold 2,892 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.77, for a total transaction of $48,498.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Noel Joseph Spiegel sold 2,892 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $16.78, for a total transaction of $48,527.76. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,563 shares of company stock worth $196,599. Corporate insiders own 8.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AEO. The Goldman Sachs Group set a $22.00 price objective on American Eagle Outfitters in a report on Monday, June 1st. Telsey Advisory Group decreased their price target on American Eagle Outfitters from $25.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, May 29th. Weiss Ratings downgraded American Eagle Outfitters from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 1st. Citigroup reduced their price objective on shares of American Eagle Outfitters from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Finally, William Blair reaffirmed a “buy” rating on shares of American Eagle Outfitters in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.09.

About American Eagle Outfitters

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.