Municipal Employees Retirement System of Michigan cut its stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 18.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 64,560 shares of the apparel retailer’s stock after selling 14,670 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in American Eagle Outfitters were worth $778,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Glen Harbor Capital Management LLC boosted its stake in shares of American Eagle Outfitters by 2.2% in the first quarter. Glen Harbor Capital Management LLC now owns 7,238 shares of the apparel retailer’s stock valued at $102,000 after buying an additional 154 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of American Eagle Outfitters by 58.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,804 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 2,877 shares during the period. Elkfork Partners LLC boosted its stake in shares of American Eagle Outfitters by 2.2% in the first quarter. Elkfork Partners LLC now owns 9,212 shares of the apparel retailer’s stock valued at $129,000 after buying an additional 196 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of American Eagle Outfitters during the first quarter valued at $147,000. Finally, Verity Asset Management Inc. purchased a new stake in shares of American Eagle Outfitters during the first quarter valued at $152,000. 89.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Eagle Outfitters, Inc. (NYSE:AEO) opened at 10.96 on Tuesday. The firm has a 50-day moving average price of $11.74 and a 200-day moving average price of $13.09. The firm has a market cap of $1.94 billion, a P/E ratio of 10.14 and a beta of 1.09. American Eagle Outfitters, Inc. has a 12-month low of $10.56 and a 12-month high of $19.22.

American Eagle Outfitters (NYSE:AEO) last issued its quarterly earnings data on Wednesday, May 17th. The apparel retailer reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $761.80 million for the quarter, compared to the consensus estimate of $741.76 million. American Eagle Outfitters had a return on equity of 18.95% and a net margin of 5.44%. American Eagle Outfitters’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. On average, equities research analysts expect that American Eagle Outfitters, Inc. will post $1.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.50 dividend on an annualized basis and a yield of 4.56%. American Eagle Outfitters’s payout ratio is currently 46.30%.

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Several analysts recently weighed in on the stock. B. Riley cut shares of American Eagle Outfitters from a “buy” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Tuesday, April 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $14.00 target price (down previously from $17.00) on shares of American Eagle Outfitters in a report on Thursday, May 18th. Jefferies Group LLC set a $19.00 target price on shares of American Eagle Outfitters and gave the company a “buy” rating in a report on Wednesday, May 10th. Deutsche Bank AG cut shares of American Eagle Outfitters from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Finally, FBR & Co reduced their target price on shares of American Eagle Outfitters from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, May 18th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.40.

About American Eagle Outfitters

American Eagle Outfitters, Inc (AEO Inc) is a multi-brand specialty retailer. The Company offers a range of apparel and accessories for men and women under the American Eagle Outfitters Brand (AEO Brand), and intimates, apparel and personal care products for women under the Aerie brand. AEO Inc operates stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom.

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Institutional Ownership by Quarter for American Eagle Outfitters (NYSE:AEO)

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