Shellback Capital LP Grows Position in American Eagle Outfitters, Inc. (NYSE:AEO)

Shellback Capital LP lifted its position in shares of American Eagle Outfitters, Inc. (NYSE:AEO) by 40.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 875,000 shares of the apparel retailer’s stock after purchasing an additional 250,000 shares during the quarter. Shellback Capital LP owned 0.45% of American Eagle Outfitters worth $17,465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of American Eagle Outfitters by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 103,514 shares of the apparel retailer’s stock valued at $2,066,000 after buying an additional 3,925 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in American Eagle Outfitters in the 2nd quarter valued at about $1,039,000. Deerfield Management Company L.P. Series C boosted its holdings in American Eagle Outfitters by 29.2% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 15,316 shares of the apparel retailer’s stock worth $306,000 after buying an additional 3,460 shares during the last quarter. AXA S.A. increased its stake in American Eagle Outfitters by 133.5% during the 2nd quarter. AXA S.A. now owns 85,345 shares of the apparel retailer’s stock worth $1,703,000 after buying an additional 48,799 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of American Eagle Outfitters during the second quarter worth approximately $748,000. 97.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEO has been the topic of a number of recent research reports. Morgan Stanley lowered their price target on shares of American Eagle Outfitters from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, May 30th. StockNews.com downgraded American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $25.00 price target on shares of American Eagle Outfitters in a research report on Thursday, August 29th. Barclays cut their price objective on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, UBS Group decreased their target price on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, American Eagle Outfitters presently has a consensus rating of “Hold” and a consensus price target of $26.00.

American Eagle Outfitters Price Performance

Shares of AEO stock opened at $21.08 on Friday. The company has a 50-day moving average of $20.69 and a two-hundred day moving average of $21.97. The firm has a market cap of $4.05 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.50. American Eagle Outfitters, Inc. has a 1-year low of $15.25 and a 1-year high of $26.44.

American Eagle Outfitters (NYSE:AEO) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. American Eagle Outfitters had a return on equity of 20.98% and a net margin of 4.58%. American Eagle Outfitters’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Sell-side analysts anticipate that American Eagle Outfitters, Inc. will post 1.78 EPS for the current fiscal year.

American Eagle Outfitters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Friday, October 11th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, October 11th. This represents a $0.50 annualized dividend and a yield of 2.37%. American Eagle Outfitters’s payout ratio is 45.05%.

Insiders Place Their Bets

In related news, Director Cary D. Mcmillan sold 2,577 shares of American Eagle Outfitters stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $20.93, for a total value of $53,936.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Cary D. Mcmillan sold 2,577 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $20.93, for a total transaction of $53,936.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay L. Schottenstein sold 999,999 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.04, for a total value of $20,039,979.96. Following the completion of the transaction, the chief executive officer now directly owns 1,771,851 shares of the company’s stock, valued at $35,507,894.04. The disclosure for this sale can be found here. 7.30% of the stock is owned by company insiders.

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.