Renaissance Technologies LLC Acquires New Holdings in American Eagle Outfitters, Inc. $AEO

Renaissance Technologies LLC bought a new stake in shares of American Eagle Outfitters, Inc. (NYSE:AEO) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 971,463 shares of the apparel retailer’s stock, valued at approximately $16,223,000.

Several other large investors also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in shares of American Eagle Outfitters during the fourth quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new stake in American Eagle Outfitters during the 4th quarter valued at $32,000. Raymond James Financial Inc. acquired a new position in American Eagle Outfitters during the 2nd quarter worth $35,000. Federated Hermes Inc. boosted its position in American Eagle Outfitters by 151.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,848 shares of the apparel retailer’s stock worth $37,000 after acquiring an additional 2,315 shares during the period. Finally, Larson Financial Group LLC boosted its position in American Eagle Outfitters by 8,432.1% during the 3rd quarter. Larson Financial Group LLC now owns 2,389 shares of the apparel retailer’s stock worth $41,000 after acquiring an additional 2,361 shares during the period. Institutional investors and hedge funds own 97.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AEO shares. TD Cowen lowered their price target on American Eagle Outfitters from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, May 18th. The Goldman Sachs Group set a $22.00 price objective on shares of American Eagle Outfitters in a research note on Monday, June 1st. William Blair reaffirmed a “buy” rating on shares of American Eagle Outfitters in a report on Wednesday, July 15th. Wall Street Zen upgraded shares of American Eagle Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group reissued a “buy” rating on shares of American Eagle Outfitters in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, American Eagle Outfitters has an average rating of “Hold” and a consensus price target of $19.91.

American Eagle Outfitters Stock Performance

Shares of NYSE AEO opened at $17.14 on Friday. The stock has a fifty day moving average price of $17.22 and a two-hundred day moving average price of $19.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.53 and a current ratio of 1.55. The firm has a market cap of $2.87 billion, a P/E ratio of 10.58, a PEG ratio of 3.78 and a beta of 1.31. American Eagle Outfitters, Inc. has a 1 year low of $10.29 and a 1 year high of $28.46.

American Eagle Outfitters (NYSE:AEO) last issued its quarterly earnings results on Thursday, May 28th. The apparel retailer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm earned ($0.29) EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts forecast that American Eagle Outfitters, Inc. will post 1.76 EPS for the current fiscal year.

American Eagle Outfitters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $0.50 annualized dividend and a yield of 2.9%. American Eagle Outfitters’s dividend payout ratio (DPR) is currently 30.86%.

Insider Buying and Selling

In related news, Director Noel Joseph Spiegel sold 2,892 shares of American Eagle Outfitters stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.78, for a total transaction of $48,527.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David M. Sable sold 5,779 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $17.23, for a total transaction of $99,572.17. Following the completion of the sale, the director owned 53,481 shares in the company, valued at approximately $921,477.63. This trade represents a 9.75% decrease in their ownership of the stock. 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 three months. Company insiders own 8.95% of the company’s stock.

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.