Sentry Investment Management LLC trimmed its position in shares of Foot Locker, Inc. (NYSE:FL) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,945 shares of the athletic footwear retailer’s stock after selling 437 shares during the quarter. Sentry Investment Management LLC’s holdings in Foot Locker were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of FL. Private Advisor Group LLC bought a new stake in shares of Foot Locker during the 4th quarter worth $529,000. Canada Pension Plan Investment Board raised its stake in Foot Locker by 39.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 558,510 shares of the athletic footwear retailer’s stock valued at $29,710,000 after acquiring an additional 156,800 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Foot Locker by 106.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,068 shares of the athletic footwear retailer’s stock valued at $270,000 after acquiring an additional 2,612 shares during the period. Natixis Advisors L.P. raised its stake in Foot Locker by 71.6% in the 4th quarter. Natixis Advisors L.P. now owns 25,880 shares of the athletic footwear retailer’s stock valued at $1,376,000 after acquiring an additional 10,802 shares during the period. Finally, Premier Fund Managers Ltd raised its stake in Foot Locker by 49.3% in the 4th quarter. Premier Fund Managers Ltd now owns 69,150 shares of the athletic footwear retailer’s stock valued at $3,615,000 after acquiring an additional 22,828 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price target on shares of Foot Locker in a research report on Thursday, April 11th. Zacks Investment Research upgraded Foot Locker from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Monday, February 4th. Pivotal Research reiterated a “buy” rating and set a $66.00 price target (down from $73.00) on shares of Foot Locker in a research report on Tuesday, May 21st. ValuEngine lowered Foot Locker from a “hold” rating to a “sell” rating in a report on Friday. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Foot Locker in a report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.75.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.08). The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Foot Locker had a return on equity of 21.74% and a net margin of 6.86%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. Sell-side analysts anticipate that Foot Locker, Inc. will post 5.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.42%. The ex-dividend date is Thursday, July 18th. Foot Locker’s dividend payout ratio is currently 32.27%.
Foot Locker announced that its board has authorized a share repurchase plan on Wednesday, February 20th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the athletic footwear retailer to reacquire up to 17.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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Foot Locker Company Profile
Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.
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