Trexquant Investment LP Has $1.24 Million Position in Foot Locker, Inc. (NYSE:FL)
Trexquant Investment LP boosted its stake in shares of Foot Locker, Inc. (NYSE:FL) by 350.0% during the second quarter, Holdings Channel reports. The firm owned 25,200 shares of the athletic footwear retailer’s stock after buying an additional 19,600 shares during the period. Trexquant Investment LP’s holdings in Foot Locker were worth $1,242,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Foot Locker by 2.0% in the first quarter. Vanguard Group Inc. now owns 12,986,214 shares of the athletic footwear retailer’s stock worth $971,499,000 after buying an additional 257,770 shares during the last quarter. BlackRock Inc. boosted its stake in Foot Locker by 2,189.3% in the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock worth $685,553,000 after buying an additional 8,763,641 shares during the last quarter. State Street Corp boosted its stake in Foot Locker by 1.7% in the first quarter. State Street Corp now owns 6,167,116 shares of the athletic footwear retailer’s stock worth $461,353,000 after buying an additional 105,750 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Foot Locker by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 2,936,340 shares of the athletic footwear retailer’s stock worth $219,668,000 after buying an additional 42,736 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in Foot Locker by 23.4% in the second quarter. APG Asset Management N.V. now owns 2,497,431 shares of the athletic footwear retailer’s stock worth $123,073,000 after buying an additional 473,289 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
Foot Locker, Inc. (FL) opened at 50.04 on Wednesday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 10.27 and a beta of 0.68. Foot Locker, Inc. has a 52-week low of $44.59 and a 52-week high of $79.43. The company has a 50-day moving average of $48.41 and a 200-day moving average of $64.80. Foot Locker also saw unusually large options trading on Tuesday. Investors acquired 11,770 put options on the stock. This is an increase of approximately 447% compared to the average volume of 2,150 put options.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Wednesday, July 12th. Foot Locker’s payout ratio is presently 25.36%.
A number of analysts have weighed in on the stock. Morgan Stanley raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and set a $65.00 price objective on the stock in a report on Tuesday. Barclays PLC set a $80.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a report on Saturday. Jefferies Group LLC reissued a “buy” rating and set a $80.00 price objective on shares of Foot Locker in a report on Thursday, August 3rd. Credit Suisse Group reissued a “neutral” rating and set a $52.00 price objective (down previously from $66.00) on shares of Foot Locker in a report on Tuesday, August 1st. Finally, BidaskClub raised shares of Foot Locker from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $72.92.
In other news, Director Jarobin Gilbert, Jr. sold 5,600 shares of Foot Locker stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total transaction of $332,640.00. Following the sale, the director now owns 8,964 shares of the company’s stock, valued at approximately $532,461.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.73% of the stock is currently 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 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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