Millennium Management LLC Has $40.16 Million Stock Holdings in American Eagle Outfitters, Inc. $AEO

Key Points

• Millennium Management LLC increased its holdings in American Eagle Outfitters by 37.7% during the first quarter, owning approximately 3.46 million shares worth about $40.16 million.
• Analysts have mixed ratings on American Eagle Outfitters, with one analyst rating it as a "Buy" and several others issuing "Hold" and "Sell" ratings, resulting in a consensus price target of $13.94.
• American Eagle Outfitters reported a quarterly earnings per share of $0.45, beating estimates of $0.20, along with a revenue of $1.28 billion that surpassed expectations of $1.23 billion.

Millennium Management LLC lifted its position in shares of American Eagle Outfitters, Inc. (NYSE:AEO - Free Report) by 37.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,455,961 shares of the apparel retailer's stock after purchasing an additional 946,904 shares during the period. Millennium Management LLC owned about 2.00% of American Eagle Outfitters worth $40,158,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEO. Bank of America Corp DE increased its stake in shares of American Eagle Outfitters by 24.1% in the fourth quarter. Bank of America Corp DE now owns 441,323 shares of the apparel retailer's stock worth $7,357,000 after buying an additional 85,775 shares during the last quarter. Deutsche Bank AG increased its stake in American Eagle Outfitters by 58.4% during the fourth quarter. Deutsche Bank AG now owns 172,981 shares of the apparel retailer's stock valued at $2,884,000 after purchasing an additional 63,794 shares during the last quarter. Gotham Asset Management LLC bought a new stake in American Eagle Outfitters during the fourth quarter valued at $777,000. Lighthouse Investment Partners LLC bought a new stake in American Eagle Outfitters during the fourth quarter valued at $4,168,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in American Eagle Outfitters by 1.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 101,127 shares of the apparel retailer's stock valued at $1,686,000 after purchasing an additional 1,282 shares during the last quarter. Institutional investors own 97.33% of the company's stock.

Analyst Upgrades and Downgrades

AEO has been the subject of several recent research reports. Bank of America reiterated an "underperform" rating and set a $10.00 target price (down previously from $11.00) on shares of American Eagle Outfitters in a research note on Monday, August 25th. Citigroup boosted their target price on shares of American Eagle Outfitters from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. Telsey Advisory Group upped their price target on shares of American Eagle Outfitters from $12.00 to $18.00 and gave the company a "market perform" rating in a report on Thursday, September 4th. Morgan Stanley set a $10.00 price target on shares of American Eagle Outfitters and gave the company an "equal weight" rating in a report on Monday, June 2nd. Finally, Cfra Research downgraded shares of American Eagle Outfitters from a "moderate buy" rating to a "hold" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $13.94.

American Eagle Outfitters Trading Down 6.3%

AEO stock traded down $1.24 during mid-day trading on Friday, reaching $18.37. 9,933,549 shares of the stock traded hands, compared to its average volume of 17,510,228. The company has a current ratio of 1.62, a quick ratio of 0.71 and a debt-to-equity ratio of 0.13. American Eagle Outfitters, Inc. has a 52-week low of $9.27 and a 52-week high of $22.63. The company has a market cap of $3.11 billion, a P/E ratio of 17.67 and a beta of 1.45. The stock's fifty day moving average is $12.72 and its 200-day moving average is $11.61.

American Eagle Outfitters (NYSE:AEO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The apparel retailer reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.25. American Eagle Outfitters had a net margin of 3.74% and a return on equity of 13.67%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that American Eagle Outfitters, Inc. will post 1.7 earnings per share for the current year.

Insider Activity at American Eagle Outfitters

In related news, Director David M. Sable sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $19.22, for a total transaction of $96,100.00. Following the transaction, the director owned 48,640 shares of the company's stock, valued at approximately $934,860.80. This trade represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer M. Foyle sold 54,950 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $18.14, for a total transaction of $996,793.00. Following the transaction, the insider directly owned 221,107 shares in the company, valued at approximately $4,010,880.98. The trade was a 19.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,821 shares of company stock valued at $2,465,436. Corporate insiders own 8.70% of the company's stock.

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.