Cornercap Investment Counsel Inc. Cuts Stake in American Eagle Outfitters, Inc. (NYSE:AEO)

Cornercap Investment Counsel Inc. lowered its position in American Eagle Outfitters, Inc. (NYSE:AEO) by 60.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,936 shares of the apparel retailer’s stock after selling 33,646 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in American Eagle Outfitters were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bayesian Capital Management LP purchased a new stake in shares of American Eagle Outfitters during the first quarter valued at approximately $598,000. Seven Eight Capital LP purchased a new stake in shares of American Eagle Outfitters during the first quarter valued at $1,445,000. UniSuper Management Pty Ltd purchased a new position in American Eagle Outfitters in the first quarter worth about $941,000. SG Americas Securities LLC boosted its position in American Eagle Outfitters by 417.2% in the second quarter. SG Americas Securities LLC now owns 175,576 shares of the apparel retailer’s stock worth $3,504,000 after purchasing an additional 141,628 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in American Eagle Outfitters by 1.5% in the first quarter. Vanguard Group Inc. now owns 20,788,750 shares of the apparel retailer’s stock worth $536,142,000 after purchasing an additional 310,808 shares during the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.

Analysts Set New Price Targets

AEO has been the topic of several research reports. UBS Group dropped their target price on American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. TD Cowen reduced their price objective on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price objective on shares of American Eagle Outfitters in a research note on Wednesday, October 2nd. Jefferies Financial Group reduced their price objective on American Eagle Outfitters from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com downgraded American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.00.

American Eagle Outfitters Trading Up 1.3 %

Shares of AEO stock opened at $18.44 on Friday. American Eagle Outfitters, Inc. has a twelve month low of $15.92 and a twelve month high of $26.44. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.91 and a beta of 1.52. The stock has a fifty day simple moving average of $20.09 and a two-hundred day simple moving average of $21.01.

American Eagle Outfitters (NYSE:AEO) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.31 billion. American Eagle Outfitters had a return on equity of 20.98% and a net margin of 4.58%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. Research analysts predict that American Eagle Outfitters, Inc. will post 1.77 EPS for the current fiscal year.

American Eagle Outfitters Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Friday, October 11th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, October 11th. American Eagle Outfitters’s dividend payout ratio is currently 40.00%.

Insider Activity at American Eagle Outfitters

In other news, CEO Jay L. Schottenstein sold 999,999 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.04, for a total value of $20,039,979.96. Following the sale, the chief executive officer now owns 1,771,851 shares in the company, valued at $35,507,894.04. This represents a 36.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Sable sold 18,420 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $22.04, for a total value of $405,976.80. Following the completion of the sale, the director now owns 39,356 shares in the company, valued at $867,406.24. The trade was a 31.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,050,702 shares of company stock valued at $21,148,718 in the last ninety days. Corporate insiders own 7.30% of the company’s stock.

American Eagle Outfitters 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.