Invesco Ltd. Lowers Holdings in American Eagle Outfitters, Inc. $AEO

Key Points

• Invesco Ltd. reduced its holdings in American Eagle Outfitters by 29.1% in the first quarter, owning approximately 1,081,205 shares valued at $12.56 million after selling 444,214 shares.
• Several large investors, including Wealth Enhancement Advisory Services and GAMMA Investing LLC, increased their stakes in the company significantly, indicating changing sentiments among institutional investors.
• Barclays, BMO Capital Markets, and Cfra Research have cut their target prices for American Eagle Outfitters, reflecting a cautious outlook, with the average price target now at $14.70.

Invesco Ltd. cut its stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,081,205 shares of the apparel retailer's stock after selling 444,214 shares during the quarter. Invesco Ltd. owned approximately 0.63% of American Eagle Outfitters worth $12,564,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MetLife Investment Management LLC lifted its holdings in American Eagle Outfitters by 0.7% during the 4th quarter. MetLife Investment Management LLC now owns 105,949 shares of the apparel retailer's stock worth $1,766,000 after buying an additional 724 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its stake in American Eagle Outfitters by 5.2% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 15,740 shares of the apparel retailer's stock valued at $262,000 after purchasing an additional 783 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in American Eagle Outfitters by 38.7% during the first quarter. Asset Management One Co. Ltd. now owns 4,173 shares of the apparel retailer's stock worth $48,000 after purchasing an additional 1,165 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of American Eagle Outfitters by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 101,127 shares of the apparel retailer's stock worth $1,686,000 after buying an additional 1,282 shares during the last quarter. Finally, ABLE Financial Group LLC grew its position in shares of American Eagle Outfitters by 7.0% in the 4th quarter. ABLE Financial Group LLC now owns 24,221 shares of the apparel retailer's stock valued at $404,000 after buying an additional 1,587 shares during the last quarter. 97.33% of the stock is currently owned by hedge funds and other institutional investors.

American Eagle Outfitters Stock Performance

American Eagle Outfitters stock traded down $0.25 during trading hours on Friday, reaching $12.93. 6,262,837 shares of the stock were exchanged, compared to its average volume of 15,788,205. The stock has a market cap of $2.24 billion, a P/E ratio of 13.19 and a beta of 1.51. The firm's 50 day moving average is $11.28 and its 200 day moving average is $11.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.56 and a current ratio of 1.38. American Eagle Outfitters, Inc. has a 52-week low of $9.27 and a 52-week high of $22.63.

American Eagle Outfitters (NYSE:AEO - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The apparel retailer reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.04). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. American Eagle Outfitters had a return on equity of 13.34% and a net margin of 3.73%.The company's revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. Analysts predict that American Eagle Outfitters, Inc. will post 1.7 EPS for the current fiscal year.

American Eagle Outfitters Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.50 annualized dividend and a dividend yield of 3.9%. American Eagle Outfitters's payout ratio is 51.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley set a $10.00 price target on shares of American Eagle Outfitters and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Citigroup reiterated a "neutral" rating on shares of American Eagle Outfitters in a research report on Friday, May 23rd. BMO Capital Markets cut their price target on American Eagle Outfitters from $15.00 to $11.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $9.00 price objective on shares of American Eagle Outfitters in a research note on Monday, July 28th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $12.00 price objective on shares of American Eagle Outfitters in a report on Wednesday. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $14.40.

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.