State Board of Administration of Florida Retirement System lifted its stake in shares of Foot Locker, Inc. (NYSE:FL) by 0.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,413 shares of the athletic footwear retailer’s stock after purchasing an additional 851 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Foot Locker worth $6,599,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in FL. LSV Asset Management boosted its stake in shares of Foot Locker by 23.5% during the 1st quarter. LSV Asset Management now owns 4,199,887 shares of the athletic footwear retailer’s stock worth $254,513,000 after acquiring an additional 798,850 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Foot Locker during the 1st quarter worth approximately $40,444,000. Boston Partners grew its position in Foot Locker by 4,890.3% during the 1st quarter. Boston Partners now owns 613,310 shares of the athletic footwear retailer’s stock worth $37,167,000 after acquiring an additional 601,020 shares during the last quarter. Bank of Montreal Can grew its position in Foot Locker by 159.2% during the 1st quarter. Bank of Montreal Can now owns 926,025 shares of the athletic footwear retailer’s stock worth $56,116,000 after acquiring an additional 568,741 shares during the last quarter. Finally, Clark Capital Management Group Inc. grew its position in Foot Locker by 103.8% during the 1st quarter. Clark Capital Management Group Inc. now owns 939,864 shares of the athletic footwear retailer’s stock worth $56,956,000 after acquiring an additional 478,666 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.
In other Foot Locker news, Director Matthew M. Mckenna sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $40.53, for a total transaction of $283,710.00. Following the completion of the sale, the director now directly owns 26,862 shares of the company’s stock, valued at $1,088,716.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by insiders.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, August 23rd. The athletic footwear retailer reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.83 billion. Foot Locker had a net margin of 6.51% and a return on equity of 21.05%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. Research analysts predict that Foot Locker, Inc. will post 4.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, October 17th. This represents a $1.52 annualized dividend and a dividend yield of 4.23%. Foot Locker’s payout ratio is 32.27%.
FL has been the topic of several recent research reports. Citigroup reduced their price target on Foot Locker from $50.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday. Robert W. Baird downgraded Foot Locker from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $54.00 to $37.00 in a research note on Monday. Pivotal Research restated a “buy” rating and issued a $53.00 price objective on shares of Foot Locker in a report on Tuesday, August 20th. ValuEngine cut Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, B. Riley reduced their price target on Foot Locker from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $55.75.
About Foot Locker
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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