Systematic Financial Management LP Cuts Stake in Foot Locker, Inc. (FL)

Systematic Financial Management LP decreased its stake in shares of Foot Locker, Inc. (NYSE:FL) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,111 shares of the athletic footwear retailer’s stock after selling 20,579 shares during the period. Systematic Financial Management LP owned approximately 0.08% of Foot Locker worth $5,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FL. BlackRock Inc. boosted its stake in shares of Foot Locker by 2,189.3% during the 1st quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock valued at $685,553,000 after purchasing an additional 8,763,641 shares in the last quarter. Morgan Stanley boosted its stake in shares of Foot Locker by 151.3% during the 1st quarter. Morgan Stanley now owns 1,439,075 shares of the athletic footwear retailer’s stock valued at $107,656,000 after purchasing an additional 866,525 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Foot Locker by 65.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,819,210 shares of the athletic footwear retailer’s stock valued at $89,651,000 after purchasing an additional 718,800 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in shares of Foot Locker by 6,648.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 729,398 shares of the athletic footwear retailer’s stock valued at $35,741,000 after purchasing an additional 718,590 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Foot Locker by 23.4% during the 2nd quarter. APG Asset Management N.V. now owns 2,497,431 shares of the athletic footwear retailer’s stock valued at $123,073,000 after purchasing an additional 473,289 shares in the last quarter. 91.36% of the stock is currently owned by hedge funds and other institutional investors.

FL has been the topic of a number of research reports. Bank of America Corporation lowered shares of Foot Locker from a “neutral” rating to an “underperform” rating in a research note on Friday, August 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price (down previously from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. Cowen and Company cut their target price on shares of Foot Locker from $77.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, May 22nd. BidaskClub raised shares of Foot Locker from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, UBS AG reaffirmed a “neutral” rating on shares of Foot Locker in a research note on Monday, August 21st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.81.

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Foot Locker, Inc. (FL) opened at 34.99 on Tuesday. The stock’s 50 day moving average is $42.27 and its 200 day moving average is $59.57. The stock has a market capitalization of $4.62 billion, a PE ratio of 8.09 and a beta of 0.73. Foot Locker, Inc. has a 12-month low of $31.56 and a 12-month high of $79.43.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by $0.28. Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Foot Locker, Inc. will post $3.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Thursday, October 12th. Foot Locker’s dividend payout ratio is presently 28.57%.

About Foot Locker

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.

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Institutional Ownership by Quarter for Foot Locker (NYSE:FL)

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