LSV Asset Management Raises Stake in Foot Locker Inc. (FL)
LSV Asset Management boosted its position in Foot Locker Inc. (NYSE:FL) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 889,900 shares of the company’s stock after buying an additional 24,300 shares during the period. LSV Asset Management’s holdings in Foot Locker were worth $60,264,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FL. Vanguard Group Inc. increased its position in Foot Locker by 15.9% in the second quarter. Vanguard Group Inc. now owns 12,566,107 shares of the company’s stock worth $689,377,000 after buying an additional 1,721,731 shares in the last quarter. Bank of Montreal Can purchased a new position in Foot Locker during the second quarter worth about $74,928,000. Fiera Capital Corp increased its position in Foot Locker by 1,328.7% in the second quarter. Fiera Capital Corp now owns 1,280,095 shares of the company’s stock worth $70,226,000 after buying an additional 1,190,495 shares in the last quarter. Ameriprise Financial Inc. increased its position in Foot Locker by 68.5% in the second quarter. Ameriprise Financial Inc. now owns 2,438,743 shares of the company’s stock worth $133,786,000 after buying an additional 991,321 shares in the last quarter. Finally, CI Investments Inc. purchased a new position in Foot Locker during the second quarter worth about $46,260,000. Hedge funds and other institutional investors own 94.55% of the company’s stock.
Foot Locker Inc. (NYSE:FL) opened at 71.67 on Thursday. Foot Locker Inc. has a one year low of $50.90 and a one year high of $74.74. The company has a 50-day moving average price of $69.25 and a 200-day moving average price of $62.48. The firm has a market cap of $9.60 billion, a PE ratio of 15.47 and a beta of 0.59.
Foot Locker (NYSE:FL) last released its earnings results on Friday, November 18th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm earned $1.89 billion during the quarter. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. Equities analysts predict that Foot Locker Inc. will post $4.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 13th will be given a $0.275 dividend. The ex-dividend date is Wednesday, January 11th. This represents a $1.10 dividend on an annualized basis and a yield of 1.53%. Foot Locker’s dividend payout ratio (DPR) is 23.71%.
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FL has been the topic of a number of research reports. Zacks Investment Research downgraded Foot Locker from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Susquehanna initiated coverage on Foot Locker in a research report on Friday, August 12th. They set a “positive” rating and a $73.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Foot Locker in a research report on Monday, September 26th. OTR Global cut Foot Locker to a “positive” rating in a research report on Friday, August 19th. Finally, Guggenheim initiated coverage on Foot Locker in a research report on Friday, September 30th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Foot Locker has a consensus rating of “Buy” and an average target price of $74.73.
In other news, Director Cheryl N. Turpin sold 10,000 shares of the stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $69.16, for a total transaction of $691,600.00. Following the completion of the sale, the director now owns 40,858 shares in the company, valued at approximately $2,825,739.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas P. Dipaolo sold 5,424 shares of the stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $68.75, for a total value of $372,900.00. Following the sale, the director now owns 68,128 shares of the company’s stock, valued at approximately $4,683,800. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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