Arizona State Retirement System cut its holdings in Foot Locker, Inc. (NYSE:FL) by 19.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 94,106 shares of the athletic footwear retailer’s stock after selling 22,204 shares during the quarter. Arizona State Retirement System’s holdings in Foot Locker were worth $4,412,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Smithfield Trust Co. raised its stake in shares of Foot Locker by 276.2% in the third quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after purchasing an additional 2,348 shares during the last quarter. Assetmark Inc. raised its stake in shares of Foot Locker by 205.0% in the third quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after purchasing an additional 2,577 shares during the last quarter. CenterStar Asset Management LLC purchased a new position in shares of Foot Locker in the fourth quarter worth about $138,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Foot Locker in the fourth quarter worth about $188,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Foot Locker in the fourth quarter worth about $217,000. Institutional investors own 92.35% of the company’s stock.
Shares of Foot Locker, Inc. (NYSE:FL) opened at $49.32 on Tuesday. The company has a market capitalization of $5,980.00, a PE ratio of 12.42, a P/E/G ratio of 2.23 and a beta of 0.80. Foot Locker, Inc. has a 1-year low of $28.42 and a 1-year high of $77.86. The company has a current ratio of 4.41, a quick ratio of 2.09 and a debt-to-equity ratio of 0.05.
In related news, CEO Richard A. Johnson sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $50.05, for a total transaction of $1,251,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew M. Mckenna sold 10,899 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total value of $499,392.18. Following the sale, the director now directly owns 35,000 shares in the company, valued at $1,603,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,899 shares of company stock worth $2,801,692. 1.73% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on FL shares. Zacks Investment Research upgraded Foot Locker from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, December 26th. Deutsche Bank upgraded Foot Locker from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $45.00 in a research note on Friday, November 17th. Citigroup restated a “buy” rating and issued a $54.00 price objective on shares of Foot Locker in a research note on Tuesday, December 19th. Cowen set a $40.00 price objective on Foot Locker and gave the stock a “hold” rating in a research note on Saturday, November 18th. Finally, Buckingham Research upgraded Foot Locker from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.24.
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Foot Locker Profile
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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