FineMark National Bank & Trust acquired a new stake in Foot Locker, Inc. (NYSE:FL) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,640 shares of the athletic footwear retailer’s stock, valued at approximately $221,000.
Several other hedge funds have also made changes to their positions in FL. CWM LLC grew its holdings in Foot Locker by 264.1% during the 1st quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Bremer Trust National Association acquired a new position in Foot Locker during the 4th quarter worth approximately $26,000. Investors Research Corp acquired a new position in Foot Locker during the 1st quarter worth approximately $30,000. Mckinley Capital Management LLC Delaware acquired a new position in Foot Locker during the 1st quarter worth approximately $33,000. Finally, Quadrant Capital Group LLC grew its holdings in Foot Locker by 75.1% during the 1st quarter. Quadrant Capital Group LLC now owns 655 shares of the athletic footwear retailer’s stock worth $37,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 97.88% of the company’s stock.
In related news, CEO Richard A. Johnson sold 80,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by corporate insiders.
FL stock opened at $55.35 on Tuesday. Foot Locker, Inc. has a 12 month low of $43.70 and a 12 month high of $68.00. The firm has a market capitalization of $6.20 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The company has a quick ratio of 1.63, a current ratio of 3.30 and a debt-to-equity ratio of 0.05.
Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. Foot Locker had a net margin of 6.81% and a return on equity of 21.92%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. Foot Locker’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Foot Locker, Inc. will post 5.19 earnings per share for the current fiscal year.
Foot Locker announced that its board has approved a stock repurchase plan on Wednesday, February 20th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the athletic footwear retailer to reacquire up to 17.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Thursday, April 18th were given a $0.38 dividend. This is an increase from Foot Locker’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.52 annualized dividend and a yield of 2.75%. Foot Locker’s dividend payout ratio is 32.27%.
About Foot Locker
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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