Corebridge Financial Inc. Cuts Stake in American Eagle Outfitters, Inc. $AEO

Corebridge Financial Inc. cut its stake in American Eagle Outfitters, Inc. (NYSE:AEO) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,681 shares of the apparel retailer’s stock after selling 1,809 shares during the quarter. Corebridge Financial Inc.’s holdings in American Eagle Outfitters were worth $1,077,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in American Eagle Outfitters by 380.4% in the first quarter. GAMMA Investing LLC now owns 2,325 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 1,841 shares during the period. State of Wyoming purchased a new position in American Eagle Outfitters in the fourth quarter valued at about $49,000. Asset Management One Co. Ltd. raised its position in American Eagle Outfitters by 38.7% in the first quarter. Asset Management One Co. Ltd. now owns 4,173 shares of the apparel retailer’s stock valued at $48,000 after purchasing an additional 1,165 shares during the period. AlphaQuest LLC grew its stake in shares of American Eagle Outfitters by 654,400.0% during the first quarter. AlphaQuest LLC now owns 6,545 shares of the apparel retailer’s stock valued at $76,000 after acquiring an additional 6,544 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of American Eagle Outfitters during the fourth quarter valued at about $156,000. 97.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America restated an “underperform” rating and set a $10.00 target price (down from $11.00) on shares of American Eagle Outfitters in a research note on Monday, August 25th. Zacks Research upgraded American Eagle Outfitters to a “hold” rating in a research note on Monday, August 11th. Cfra Research downgraded American Eagle Outfitters from a “moderate buy” rating to a “hold” rating in a research note on Friday, June 6th. Citigroup raised their target price on American Eagle Outfitters from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets lowered their target price on American Eagle Outfitters from $15.00 to $11.00 and set a “market perform” rating for the company in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, American Eagle Outfitters currently has a consensus rating of “Reduce” and an average target price of $13.94.

American Eagle Outfitters Stock Up 38.0%

NYSE:AEO opened at $18.80 on Friday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 18.08 and a beta of 1.45. American Eagle Outfitters, Inc. has a one year low of $9.27 and a one year high of $22.63. The stock has a 50-day simple moving average of $11.69 and a 200 day simple moving average of $11.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.56 and a current ratio of 1.38.

American Eagle Outfitters (NYSE:AEO) last posted its quarterly earnings results on Wednesday, September 3rd. The apparel retailer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.23 billion. American Eagle Outfitters had a return on equity of 13.43% and a net margin of 3.74%.The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. Sell-side analysts predict that American Eagle Outfitters, Inc. will post 1.7 EPS for the current fiscal year.

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.