The Manufacturers Life Insurance Company Makes New $1.35 Million Investment in American Eagle Outfitters, Inc. $AEO

Key Points

• The Manufacturers Life Insurance Company acquired 78,251 shares of American Eagle Outfitters worth approximately $1.35 million in the second quarter.
• Institutional investors and hedge funds hold 97.33% of AEO’s outstanding shares, with major positions added or expanded by BlackRock, Marshall Wace, and Arrowstreet Capital.
• AEO shares opened at $17.36, while analysts maintain a consensus “Hold” rating and a $20.40 target price. The company pays a quarterly dividend of $0.125, equivalent to a 2.9% annual yield.

The Manufacturers Life Insurance Company acquired a new position in American Eagle Outfitters, Inc. (NYSE:AEO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,251 shares of the apparel retailer's stock, valued at approximately $1,346,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in American Eagle Outfitters in the second quarter valued at approximately $458,632,000. Marshall Wace LLP raised its position in American Eagle Outfitters by 920.6% during the 3rd quarter. Marshall Wace LLP now owns 5,497,720 shares of the apparel retailer's stock worth $94,066,000 after buying an additional 4,959,039 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in American Eagle Outfitters by 162.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,336,392 shares of the apparel retailer's stock valued at $105,818,000 after acquiring an additional 3,926,230 shares during the period. Bank of New York Mellon Corp acquired a new stake in American Eagle Outfitters during the 2nd quarter valued at approximately $27,637,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of American Eagle Outfitters in the 4th quarter valued at $40,954,000. Institutional investors and hedge funds own 97.33% of the company's stock.

American Eagle Outfitters Price Performance

Shares of NYSE AEO opened at $17.36 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.53. The firm's 50 day simple moving average is $17.01 and its 200-day simple moving average is $17.84. American Eagle Outfitters, Inc. has a 12 month low of $14.06 and a 12 month high of $28.46. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 3.71 and a beta of 1.33.

American Eagle Outfitters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $0.50 dividend on an annualized basis and a yield of 2.9%. American Eagle Outfitters's payout ratio is presently 30.86%.

Insider Buying and Selling at American Eagle Outfitters

In other news, Director Cary McMillan sold 2,892 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $16.77, for a total transaction of $48,498.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Sable sold 5,779 shares of American Eagle Outfitters 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 completion of the transaction, the director owned 53,481 shares of the company's stock, valued at approximately $921,477.63. This represents a 9.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,563 shares of company stock valued at $196,599. Corporate insiders own 8.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AEO shares. Wall Street Zen raised shares of American Eagle Outfitters from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of American Eagle Outfitters in a report on Thursday, August 27th. Barclays cut their price target on American Eagle Outfitters from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Friday, May 29th. William Blair reiterated a "buy" rating on shares of American Eagle Outfitters in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted 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 analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, American Eagle Outfitters has an average rating of "Hold" and a consensus target price of $20.40.

American Eagle Outfitters Company 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.

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