Millennium Management LLC reduced its stake in Foot Locker, Inc. (NYSE:FL) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 687,123 shares of the athletic footwear retailer’s stock after selling 74,359 shares during the period. Millennium Management LLC owned 0.61% of Foot Locker worth $36,555,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Foot Locker by 0.7% in the third quarter. Vanguard Group Inc. now owns 12,178,329 shares of the athletic footwear retailer’s stock valued at $620,851,000 after buying an additional 85,314 shares in the last quarter. Vanguard Group Inc increased its position 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 worth $620,851,000 after purchasing an additional 85,314 shares in the last quarter. BlackRock Inc. increased its position 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 worth $374,890,000 after purchasing an additional 146,138 shares in the last quarter. AQR Capital Management LLC increased its position 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 worth $290,289,000 after purchasing an additional 3,329,150 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 worth $285,219,000 after purchasing an additional 112,778 shares in the last quarter. Institutional investors own 97.88% of the company’s stock.
A number of analysts recently commented on the company. B. Riley lifted their price objective on Foot Locker from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Citigroup lifted their price target on Foot Locker from $63.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. ValuEngine upgraded Foot Locker from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Pivotal Research upgraded Foot Locker from a “hold” rating to a “buy” rating and lifted their price target for the company from $64.00 to $73.00 in a report on Monday, March 4th. Finally, Imperial Capital restated an “outperform” rating and issued a $70.00 price target (up previously from $66.00) on shares of Foot Locker in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.85.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.17. Foot Locker had a return on equity of 21.92% and a net margin of 6.81%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $1.26 EPS. Foot Locker’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Foot Locker, Inc. will post 5.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This is an increase from Foot Locker’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 2.46%. Foot Locker’s payout ratio is currently 32.27%.
Foot Locker declared that its Board of Directors has approved a share buyback program on Wednesday, February 20th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the athletic footwear retailer to repurchase up to 17.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, CEO Richard A. Johnson sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $60.01, for a total value of $4,800,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.
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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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