American Eagle Outfitters (AEO) Shares Gap Up After Dividend Announcement
American Eagle Outfitters (NYSE:AEO) gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $15.31, but opened at $15.66. American Eagle Outfitters shares last traded at $16.30, with a volume of 5921300 shares trading hands.
The newly announced dividend which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.10%. American Eagle Outfitters’s dividend payout ratio (DPR) is currently 52.08%.
A number of brokerages recently weighed in on AEO. Royal Bank Of Canada set a $14.00 price target on shares of American Eagle Outfitters and gave the stock a “buy” rating in a report on Tuesday, August 29th. Buckingham Research reissued a “neutral” rating on shares of American Eagle Outfitters in a report on Thursday, August 24th. Deutsche Bank restated a “hold” rating and issued a $12.00 price objective (down from $13.00) on shares of American Eagle Outfitters in a research note on Friday, August 11th. Oppenheimer set a $13.00 price objective on American Eagle Outfitters and gave the company a “hold” rating in a research note on Wednesday, August 23rd. Finally, Wolfe Research upgraded American Eagle Outfitters from an “underperform” rating to a “market perform” rating in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.31.
The stock has a market cap of $2,870.00, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.58 and a beta of 1.19.
In other news, insider Jennifer M. Foyle sold 13,500 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $14.22, for a total transaction of $191,970.00. Following the sale, the insider now directly owns 27,531 shares in the company, valued at $391,490.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System increased its position in shares of American Eagle Outfitters by 10.2% in the third quarter. California Public Employees Retirement System now owns 666,250 shares of the apparel retailer’s stock worth $9,527,000 after purchasing an additional 61,504 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of American Eagle Outfitters in the third quarter worth approximately $160,000. Point72 Asset Management L.P. bought a new position in shares of American Eagle Outfitters in the third quarter worth approximately $1,122,000. Highbridge Capital Management LLC bought a new position in shares of American Eagle Outfitters in the third quarter worth approximately $257,000. Finally, Vident Investment Advisory LLC increased its position in shares of American Eagle Outfitters by 65.6% in the third quarter. Vident Investment Advisory LLC now owns 235,467 shares of the apparel retailer’s stock worth $3,367,000 after purchasing an additional 93,239 shares during the last quarter. Institutional investors own 83.15% of the company’s stock.
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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