Candriam Luxembourg S.C.A. raised its position in Foot Locker, Inc. (NYSE:FL) by 1,222.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,313 shares of the athletic footwear retailer’s stock after buying an additional 57,601 shares during the quarter. Candriam Luxembourg S.C.A. owned about 0.06% of Foot Locker worth $3,315,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. MML Investors Services LLC grew its holdings in Foot Locker by 56.2% during the 4th quarter. MML Investors Services LLC now owns 8,541 shares of the athletic footwear retailer’s stock worth $454,000 after acquiring an additional 3,072 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Foot Locker by 8.7% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 183,100 shares of the athletic footwear retailer’s stock worth $9,741,000 after purchasing an additional 14,700 shares during the period. Zacks Investment Management lifted its position in shares of Foot Locker by 1.9% in the 4th quarter. Zacks Investment Management now owns 33,468 shares of the athletic footwear retailer’s stock worth $1,780,000 after purchasing an additional 620 shares during the period. Two Sigma Advisers LP lifted its position in shares of Foot Locker by 9.2% in the 4th quarter. Two Sigma Advisers LP now owns 255,000 shares of the athletic footwear retailer’s stock worth $13,566,000 after purchasing an additional 21,379 shares during the period. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Foot Locker in the 4th quarter worth approximately $1,761,000. 99.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Jefferies Financial Group set a $80.00 price target on shares of Foot Locker and gave the stock a “buy” rating in a research report on Friday. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Foot Locker in a research report on Thursday. Citigroup downgraded shares of Foot Locker from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $68.00 in a research report on Wednesday, April 10th. Wedbush restated a “buy” rating and issued a $73.00 price target on shares of Foot Locker in a research report on Monday, April 1st. Finally, Credit Suisse Group boosted their price target on shares of Foot Locker from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $65.85.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.17. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Foot Locker had a net margin of 6.81% and a return on equity of 21.92%. Foot Locker’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. Sell-side analysts expect that Foot Locker, Inc. will post 5.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, April 17th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.35. Foot Locker’s payout ratio is 29.30%.
Foot Locker announced that its Board of Directors has approved a share buyback plan on Wednesday, February 20th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the athletic footwear retailer to reacquire up to 17.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Foot Locker news, CEO Richard A. Johnson sold 80,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $60.01, for a total transaction of $4,800,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.
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Foot Locker 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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