Texas Permanent School Fund decreased its position in Foot Locker, Inc. (NYSE:FL) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,245 shares of the athletic footwear retailer’s stock after selling 2,579 shares during the quarter. Texas Permanent School Fund’s holdings in Foot Locker were worth $1,338,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Foot Locker during the second quarter valued at about $82,034,000. LSV Asset Management grew its position in Foot Locker by 55.6% during the second quarter. LSV Asset Management now owns 1,883,833 shares of the athletic footwear retailer’s stock valued at $99,183,000 after buying an additional 673,155 shares during the period. Advisors Asset Management Inc. grew its position in Foot Locker by 24,267.0% during the second quarter. Advisors Asset Management Inc. now owns 629,642 shares of the athletic footwear retailer’s stock valued at $220,000 after buying an additional 627,058 shares during the period. Pzena Investment Management LLC bought a new position in Foot Locker during the second quarter valued at about $30,558,000. Finally, Dimensional Fund Advisors LP grew its position in Foot Locker by 26.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock valued at $113,606,000 after buying an additional 453,209 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.
Several research firms recently weighed in on FL. Canaccord Genuity set a $66.00 price target on shares of Foot Locker and gave the company a “buy” rating in a research report on Friday, August 17th. Telsey Advisory Group reduced their price target on shares of Foot Locker from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday, August 27th. Pivotal Research set a $64.00 price target on shares of Foot Locker and gave the company a “buy” rating in a research report on Monday, August 27th. Zacks Investment Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, July 17th. Finally, TheStreet lowered shares of Foot Locker from a “b-” rating to a “c” rating in a research report on Friday, August 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Foot Locker currently has a consensus rating of “Buy” and a consensus target price of $56.13.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, August 24th. The athletic footwear retailer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.76 billion. Foot Locker had a net margin of 3.88% and a return on equity of 20.67%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Analysts predict that Foot Locker, Inc. will post 4.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, October 19th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Thursday, October 18th. Foot Locker’s payout ratio is 33.58%.
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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.
Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers
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