Commonwealth Equity Services LLC reduced its stake in shares of Foot Locker, Inc. (NYSE:FL) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,374 shares of the athletic footwear retailer’s stock after selling 4,766 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Foot Locker were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Foot Locker by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,178,329 shares of the athletic footwear retailer’s stock valued at $620,851,000 after purchasing an additional 85,314 shares in the last quarter. Vanguard Group Inc grew its holdings in Foot Locker by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 12,178,329 shares of the athletic footwear retailer’s stock valued at $620,851,000 after purchasing an additional 85,314 shares in the last quarter. BlackRock Inc. grew its holdings in Foot Locker by 2.1% during the 4th quarter. BlackRock Inc. now owns 7,046,767 shares of the athletic footwear retailer’s stock valued at $374,890,000 after purchasing an additional 146,138 shares in the last quarter. AQR Capital Management LLC grew its holdings in Foot Locker by 140.8% during the 3rd quarter. AQR Capital Management LLC now owns 5,694,180 shares of the athletic footwear retailer’s stock valued at $290,289,000 after purchasing an additional 3,329,150 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Foot Locker by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 5,361,255 shares of the athletic footwear retailer’s stock valued at $285,219,000 after purchasing an additional 112,778 shares in the last quarter. Institutional investors own 99.63% of the company’s stock.
Several brokerages have weighed in on FL. Guggenheim reissued a “buy” rating and set a $66.00 price objective on shares of Foot Locker in a report on Thursday, February 21st. Jefferies Financial Group set a $62.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a report on Friday, December 21st. Zacks Investment Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, December 19th. Canaccord Genuity set a $64.00 price target on shares of Foot Locker and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Foot Locker from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $65.85.
Foot Locker (NYSE:FL) last released its earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.17. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.26 EPS. Research analysts expect that Foot Locker, Inc. will post 5.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Thursday, April 18th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.41%. This is a boost from Foot Locker’s previous quarterly dividend of $0.35. Foot Locker’s payout ratio is currently 29.30%.
Foot Locker declared that its board has authorized a stock repurchase program on Wednesday, February 20th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the athletic footwear retailer to purchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Richard A. Johnson sold 80,000 shares of Foot Locker stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $60.01, for a total value of $4,800,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.
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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