Cornercap Investment Counsel Inc. Sells 33,646 Shares of American Eagle Outfitters, Inc. (NYSE:AEO)

Cornercap Investment Counsel Inc. lessened its holdings in American Eagle Outfitters, Inc. (NYSE:AEO - Free Report) by 60.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,936 shares of the apparel retailer's stock after selling 33,646 shares during the period. Cornercap Investment Counsel Inc.'s holdings in American Eagle Outfitters were worth $491,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Congress Asset Management Co. bought a new stake in American Eagle Outfitters during the third quarter valued at about $119,691,000. Victory Capital Management Inc. grew its stake in shares of American Eagle Outfitters by 165.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,107,933 shares of the apparel retailer's stock valued at $62,034,000 after acquiring an additional 1,936,938 shares during the period. Principal Financial Group Inc. increased its holdings in American Eagle Outfitters by 179.1% in the 2nd quarter. Principal Financial Group Inc. now owns 2,691,474 shares of the apparel retailer's stock worth $53,722,000 after acquiring an additional 1,726,982 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in American Eagle Outfitters by 36.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,242,838 shares of the apparel retailer's stock worth $64,727,000 after acquiring an additional 865,355 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in American Eagle Outfitters during the 2nd quarter worth approximately $16,861,000. 97.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group dropped their price target on shares of American Eagle Outfitters from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, November 12th. Barclays dropped their target price on shares of American Eagle Outfitters from $32.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, August 30th. TD Cowen decreased their price target on American Eagle Outfitters from $25.00 to $23.00 and set a "hold" rating on the stock in a report on Friday, August 30th. UBS Group dropped their price objective on American Eagle Outfitters from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $23.00 target price on shares of American Eagle Outfitters in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $25.00.

American Eagle Outfitters Trading Up 1.3 %

Shares of AEO stock opened at $18.44 on Friday. The stock's 50-day moving average price is $20.09 and its 200-day moving average price is $21.01. American Eagle Outfitters, Inc. has a 12-month low of $15.92 and a 12-month high of $26.44. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52.

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

American Eagle Outfitters Dividend Announcement

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

Insider Transactions at American Eagle Outfitters

In related news, CEO Jay L. Schottenstein sold 999,999 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.04, for a total transaction of $20,039,979.96. Following the sale, the chief executive officer now owns 1,771,851 shares in the company, valued at approximately $35,507,894.04. This represents a 36.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cary D. Mcmillan sold 2,283 shares of American Eagle Outfitters stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $21.49, for a total transaction of $49,061.67. The disclosure for this sale can be found here. Insiders have sold a total of 1,050,702 shares of company stock worth $21,148,718 in the last three months. Insiders own 7.30% of the company's stock.

About American Eagle Outfitters

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.