Keeley Teton Advisors LLC decreased its stake in shares of Foot Locker, Inc. (NYSE:FL) by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,229 shares of the athletic footwear retailer’s stock after selling 8,496 shares during the period. Keeley Teton Advisors LLC’s holdings in Foot Locker were worth $2,377,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of FL. Norges Bank bought a new position in shares of Foot Locker during the fourth quarter worth about $82,441,000. Neuberger Berman Group LLC bought a new position in Foot Locker in the third quarter worth about $37,272,000. Bank of Montreal Can lifted its holdings in Foot Locker by 159.2% in the first 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. Lord Abbett & CO. LLC lifted its holdings in Foot Locker by 58.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,502,246 shares of the athletic footwear retailer’s stock worth $79,919,000 after acquiring an additional 556,469 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Foot Locker by 16.9% in the fourth quarter. LSV Asset Management now owns 3,401,037 shares of the athletic footwear retailer’s stock worth $180,935,000 after acquiring an additional 491,986 shares during the last quarter. 97.88% of the stock is currently owned by institutional investors and hedge funds.
In other Foot Locker 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 transaction of $4,800,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.17. The firm had revenue of $2.27 billion for 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%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. Sell-side analysts predict that Foot Locker, Inc. will post 5.2 EPS for the current fiscal year.
Foot Locker declared that its board has authorized a stock repurchase program on Wednesday, February 20th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the athletic footwear retailer to repurchase up to 17.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.75%. This is a boost from Foot Locker’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, April 17th. Foot Locker’s payout ratio is presently 32.27%.
A number of equities analysts have issued reports on the stock. B. Riley raised their target price on shares of Foot Locker from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Citigroup raised their target price on shares of Foot Locker from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Pivotal Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and raised their target price for the stock from $64.00 to $73.00 in a report on Monday, March 4th. ValuEngine raised shares of Foot Locker from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $66.00) on shares of Foot Locker in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. Foot Locker has an average rating of “Buy” and an average target price of $65.85.
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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