Wellington Management Group LLP Sells 3,718,418 Shares of American Eagle Outfitters, Inc. $AEO

Key Points

• Wellington Management Group LLP reduced its stake in American Eagle Outfitters by 37.4%, selling over 3.7 million shares, leaving it with a total of 6.2 million shares valued at approximately $72.2 million.
• Several analysts have set varying target prices for American Eagle Outfitters, with Telsey Advisory Group raising its target to $12.00 while others, like JPMorgan Chase, set it at $9.00 and reiterated an "underweight" rating.
• American Eagle Outfitters reported a quarterly loss of ($0.29) per share, missing expectations and seeing a 4.7% decline in revenue year-over-year, despite exceeding revenue forecasts.

Wellington Management Group LLP decreased its stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO - Free Report) by 37.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,215,210 shares of the apparel retailer's stock after selling 3,718,418 shares during the period. Wellington Management Group LLP owned 3.60% of American Eagle Outfitters worth $72,221,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in American Eagle Outfitters by 380.4% during the 1st quarter. GAMMA Investing LLC now owns 2,325 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 1,841 shares in the last quarter. State of Wyoming purchased a new stake in American Eagle Outfitters during the 4th quarter worth about $49,000. Asset Management One Co. Ltd. lifted its holdings in American Eagle Outfitters by 38.7% during the 1st 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. University of Texas Texas AM Investment Management Co. purchased a new stake in American Eagle Outfitters during the 4th quarter worth about $156,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in American Eagle Outfitters during the 4th quarter worth about $175,000. Hedge funds and other institutional investors own 97.33% of the company's stock.

American Eagle Outfitters Trading Down 1.7%

AEO traded down $0.23 on Thursday, hitting $13.00. 3,810,403 shares of the company were exchanged, compared to its average volume of 8,523,590. The firm has a fifty day simple moving average of $11.15 and a two-hundred day simple moving average of $11.44. 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 12 month low of $9.27 and a 12 month high of $22.63. The stock has a market capitalization of $2.25 billion, a PE ratio of 13.25 and a beta of 1.51.

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

American Eagle Outfitters Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, July 11th. American Eagle Outfitters's dividend payout ratio (DPR) is presently 51.02%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AEO. BMO Capital Markets dropped their price objective on American Eagle Outfitters from $15.00 to $11.00 and set a "market perform" rating on the stock in a report on Wednesday, May 14th. Citigroup reaffirmed a "neutral" rating on shares of American Eagle Outfitters in a report on Friday, May 23rd. Zacks Research raised American Eagle Outfitters to a "hold" rating in a report on Monday, August 11th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $9.00 price target on shares of American Eagle Outfitters in a report on Monday, July 28th. Finally, Cfra Research cut 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, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $14.40.

American Eagle Outfitters Company Profile

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.