Quadrant Capital Group LLC boosted its holdings in Foot Locker, Inc. (NYSE:FL) by 75.1% in the 1st quarter, Holdings Channel reports. The firm owned 655 shares of the athletic footwear retailer’s stock after purchasing an additional 281 shares during the period. Quadrant Capital Group LLC’s holdings in Foot Locker were worth $37,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Foot Locker during the fourth quarter valued at about $82,441,000. Neuberger Berman Group LLC bought a new position in shares of Foot Locker during the third quarter valued at about $37,272,000. Bank of Montreal Can raised its stake in shares of Foot Locker by 159.2% during the first quarter. Bank of Montreal Can now owns 926,025 shares of the athletic footwear retailer’s stock valued at $56,116,000 after acquiring an additional 568,741 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Foot Locker by 58.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,502,246 shares of the athletic footwear retailer’s stock valued at $79,919,000 after acquiring an additional 556,469 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Foot Locker by 16.9% during the fourth quarter. LSV Asset Management now owns 3,401,037 shares of the athletic footwear retailer’s stock valued at $180,935,000 after acquiring an additional 491,986 shares during the last quarter. 99.82% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on FL. Barclays increased their price target on shares of Foot Locker to $85.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Wedbush reissued a “buy” rating and issued a $73.00 price target on shares of Foot Locker in a research note on Monday, April 1st. Robert W. Baird increased their price target on shares of Foot Locker from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. B. Riley increased their price target on shares of Foot Locker from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group set a $80.00 price target on shares of Foot Locker and gave the stock a “buy” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.85.
Foot Locker (NYSE:FL) last announced its quarterly earnings data on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.17. The business 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%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. As a group, equities analysts predict that Foot Locker, Inc. will post 5.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, April 17th. This is a boost from Foot Locker’s previous quarterly dividend of $0.35. Foot Locker’s dividend payout ratio is 32.27%.
Foot Locker announced that its Board of Directors has authorized a share buyback program on Wednesday, February 20th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the athletic footwear retailer to buy up to 17.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In other Foot Locker news, CEO Richard A. Johnson sold 80,000 shares of the company’s stock in a transaction dated 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 the SEC website. 2.40% of the stock is currently owned by corporate insiders.
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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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