Bank of New York Mellon Corp Acquires Shares of 1,606,814 American Eagle Outfitters, Inc. $AEO

Key Points

• Bank of New York Mellon acquired 1.61 million American Eagle Outfitters shares worth approximately $27.6 million, giving it a 0.96% stake. Institutional investors collectively own 97.33% of the company.
• Analysts maintain a generally cautious outlook, with two Buy, twelve Hold and one Sell rating. The consensus rating is Hold, with an average price target of $20.09.
• American Eagle reported quarterly EPS of $0.14, exceeding estimates of $0.11, while revenue rose 9.7% year over year to $1.20 billion. The company also paid a quarterly dividend of $0.125 per share, representing a 3.0% annualized yield.

Bank of New York Mellon Corp acquired a new position in American Eagle Outfitters, Inc. (NYSE:AEO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,606,814 shares of the apparel retailer's stock, valued at approximately $27,637,000. Bank of New York Mellon Corp owned about 0.96% of American Eagle Outfitters as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in American Eagle Outfitters by 12.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,000,419 shares of the apparel retailer's stock worth $158,231,000 after acquiring an additional 680,332 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in American Eagle Outfitters by 151,993.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 65,400 shares of the apparel retailer's stock valued at $1,725,000 after purchasing an additional 65,357 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in American Eagle Outfitters in the first quarter valued at approximately $5,490,000. Broad Peak Investment Advisers Pte Ltd bought a new stake in American Eagle Outfitters during the first quarter valued at approximately $2,973,000. Finally, Vanguard Group Inc. lifted its position in American Eagle Outfitters by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 18,398,401 shares of the apparel retailer's stock valued at $485,166,000 after purchasing an additional 249,158 shares during the last quarter. Institutional investors own 97.33% of the company's stock.

Insider Buying and Selling

In other news, Director David M. Sable sold 5,779 shares of the company's stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $17.23, for a total value of $99,572.17. Following the sale, the director directly owned 53,481 shares of the company's stock, valued at $921,477.63. This represents a 9.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Noel Joseph Spiegel sold 2,892 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.78, for a total transaction of $48,527.76. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,563 shares of company stock valued at $196,599 over the last ninety days. Company insiders own 8.95% of the company's stock.

Wall Street Analyst Weigh In

AEO has been the topic of a number of research analyst reports. Citigroup reduced their target price on American Eagle Outfitters from $24.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, June 1st. Weiss Ratings lowered American Eagle Outfitters from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 1st. The Goldman Sachs Group set a $22.00 price objective on American Eagle Outfitters in a report on Monday, June 1st. UBS Group reiterated a "buy" rating on shares of American Eagle Outfitters in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price objective on American Eagle Outfitters from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Two 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 company currently has an average rating of "Hold" and a consensus target price of $20.09.

American Eagle Outfitters Stock Up 1.3%

Shares of NYSE:AEO opened at $16.90 on Friday. The stock's 50-day moving average is $17.12 and its 200 day moving average is $18.10. The company has a market cap of $2.83 billion, a PE ratio of 10.43, a P/E/G ratio of 3.68 and a beta of 1.32. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.53. American Eagle Outfitters, Inc. has a 1 year low of $12.60 and a 1 year high of $28.46.

American Eagle Outfitters (NYSE:AEO - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The apparel retailer reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates 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 period last year, the company earned ($0.29) EPS. The business's quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that American Eagle Outfitters, Inc. will post 1.76 EPS for the current year.

American Eagle Outfitters Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.125 per share. The ex-dividend date was Friday, July 10th. This represents a $0.50 annualized dividend and a dividend yield of 3.0%. American Eagle Outfitters's payout ratio is currently 30.86%.

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.

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