Truist Financial Corp has acquired a new stake in American Eagle Outfitters, Inc. during the 1st quarter. The fund acquired 58,706 shares of the apparel retailer’s stock, valued at approximately $789,000. This comes as several other hedge funds and institutional investors have also recently bought and sold shares of the stock.
Vanguard Group Inc. lifted its position in American Eagle Outfitters by 15.6% during the 3rd quarter, while Dimensional Fund Advisors LP lifted its position by 15.7% during the 4th quarter. State Street Corp and Morgan Stanley also increased their holdings in the apparel retailer during the same time period. Furthermore, Geode Capital Management LLC raised its position in the 4th quarter. It’s important to note that a significant portion of the company’s stock is owned by institutional investors and hedge funds.
American Eagle Outfitters, Inc. operates as a specialty retailer that provides clothing, accessories, and personal care products under the American Eagle and Aerie brands in the United States and internationally. The company offers a wide range of products for women and men, including jeans, apparel, accessories, and personal care items. They also provide intimates, activewear, and swimwear collections.
In terms of financial performance, American Eagle Outfitters had a return on equity of 12.89% and a net margin of 2.23%. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Analysts expect the company to post 1.05 EPS for the current year.
American Eagle Outfitters recently announced a quarterly dividend, which was paid to shareholders on July 21st. The company has a dividend yield of 2.59% and a dividend payout ratio of 72.73%.
Several brokerages have issued reports on American Eagle Outfitters, with a consensus rating of “Hold” and an average target price of $13.92. While the stock currently has a “Hold” rating, there are five other stocks that top analysts are recommending as better buys.
In conclusion, Truist Financial’s acquisition of a stake in American Eagle Outfitters highlights increased interest from institutional investors in the apparel retailer. With a strong product range and positive financial performance, the company has the potential for future growth.
Sources:
– SEC filing by Truist Financial Corp
– Company profile by MarketBeat
Source: claytoncountyregister.com
