State of Tennessee Treasury Department trimmed its holdings in Foot Locker, Inc. (NYSE:FL) by 41.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,290 shares of the athletic footwear retailer’s stock after selling 67,139 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.07% of Foot Locker worth $4,696,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Foot Locker by 130.0% in the 1st quarter. JPMorgan Chase & Co. now owns 698,340 shares of the athletic footwear retailer’s stock worth $52,244,000 after purchasing an additional 394,688 shares during the period. Tobam boosted its stake in Foot Locker by 47.1% in the 2nd quarter. Tobam now owns 428,449 shares of the athletic footwear retailer’s stock worth $21,114,000 after purchasing an additional 137,206 shares during the period. Todd Asset Management LLC boosted its stake in Foot Locker by 34.3% in the 1st quarter. Todd Asset Management LLC now owns 582,371 shares of the athletic footwear retailer’s stock worth $43,567,000 after purchasing an additional 148,889 shares during the period. Omega Advisors Inc. bought a new position in Foot Locker in the 1st quarter worth approximately $11,222,000. Finally, Russell Investments Group Ltd. boosted its stake in Foot Locker by 6.6% in the 1st quarter. Russell Investments Group Ltd. now owns 138,739 shares of the athletic footwear retailer’s stock worth $10,382,000 after purchasing an additional 8,617 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.
Several research analysts have weighed in on FL shares. Bank of America Corporation downgraded Foot Locker from a “neutral” rating to an “underperform” rating in a research note on Friday, August 18th. Morgan Stanley restated an “overweight” rating and issued a $50.00 price target (down from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. Cowen and Company dropped their price target on Foot Locker from $77.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, May 22nd. BidaskClub upgraded Foot Locker from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, UBS AG restated a “neutral” rating on shares of Foot Locker in a research note on Monday, August 21st. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.81.
Shares of Foot Locker, Inc. (NYSE:FL) opened at 34.99 on Tuesday. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 8.09 and a beta of 0.73. Foot Locker, Inc. has a 1-year low of $31.56 and a 1-year high of $79.43. The firm has a 50-day moving average price of $42.27 and a 200-day moving average price of $59.57.
Foot Locker (NYSE:FL) last posted its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.28. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. Foot Locker’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts forecast that Foot Locker, Inc. will post $3.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a $0.31 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.24 dividend on an annualized basis and a yield of 3.54%. Foot Locker’s dividend payout ratio is currently 28.57%.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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