James Investment Research Inc. trimmed its stake in shares of Foot Locker, Inc. (NYSE:FL) by 39.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,590 shares of the athletic footwear retailer’s stock after selling 10,955 shares during the period. James Investment Research Inc.’s holdings in Foot Locker were worth $1,005,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Foot Locker by 264.1% in the 1st quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock valued at $29,000 after acquiring an additional 346 shares during the last quarter. Bremer Trust National Association acquired a new stake in shares of Foot Locker in the fourth quarter valued at $26,000. Investors Research Corp acquired a new stake in shares of Foot Locker in the first quarter valued at $30,000. Lindbrook Capital LLC acquired a new stake in shares of Foot Locker in the fourth quarter valued at $38,000. Finally, Executive Wealth Management LLC acquired a new stake in shares of Foot Locker in the fourth quarter valued at $56,000. 97.88% of the stock is owned by institutional investors.
NYSE:FL traded down $1.96 during trading hours on Wednesday, hitting $54.20. 3,541,491 shares of the company’s stock traded hands, compared to its average volume of 2,730,590. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.12 and a beta of 0.71. Foot Locker, Inc. has a twelve month low of $43.84 and a twelve month high of $68.00. The company has a current ratio of 3.30, a quick ratio of 1.63 and a debt-to-equity ratio of 0.05.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share for the quarter, beating the 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 return on equity of 21.92% and a net margin of 6.81%. Foot Locker’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Equities analysts forecast that Foot Locker, Inc. will post 5.19 earnings per share for the current year.
Foot Locker declared that its Board of Directors 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 repurchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 18th. Foot Locker’s payout ratio is currently 32.27%.
Several brokerages have recently commented on FL. B. Riley upped their target price on Foot Locker from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Citigroup upped their target price on Foot Locker from $63.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Imperial Capital reaffirmed an “outperform” rating and set a $70.00 target price (up from $66.00) on shares of Foot Locker in a report on Monday, March 4th. Pivotal Research raised Foot Locker from a “hold” rating to a “buy” rating and upped their target price for the company from $64.00 to $73.00 in a report on Monday, March 4th. Finally, ValuEngine raised Foot Locker from a “hold” rating to a “buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $66.05.
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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