Korea Investment CORP Has $8.37 Million Position in Foot Locker, Inc. (FL)
Korea Investment CORP reduced its position in shares of Foot Locker, Inc. (NYSE:FL) by 60.1% during the second quarter, Holdings Channel reports. The firm owned 169,820 shares of the athletic footwear retailer’s stock after selling 255,400 shares during the period. Korea Investment CORP’s holdings in Foot Locker were worth $8,369,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in FL. Somerset Trust Co increased its stake in Foot Locker by 0.3% in the first quarter. Somerset Trust Co now owns 6,059 shares of the athletic footwear retailer’s stock worth $453,000 after buying an additional 20 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in Foot Locker by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 14,090 shares of the athletic footwear retailer’s stock worth $694,000 after buying an additional 61 shares in the last quarter. Commerce Bank increased its stake in Foot Locker by 1.3% in the first quarter. Commerce Bank now owns 6,200 shares of the athletic footwear retailer’s stock worth $464,000 after buying an additional 77 shares in the last quarter. IFP Advisors Inc increased its stake in Foot Locker by 1.9% in the first quarter. IFP Advisors Inc now owns 4,580 shares of the athletic footwear retailer’s stock worth $343,000 after buying an additional 86 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock worth $197,000 after buying an additional 88 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
Foot Locker, Inc. (NYSE:FL) opened at 49.80 on Thursday. The firm has a market cap of $6.54 billion, a P/E ratio of 10.22 and a beta of 0.68. The firm’s 50-day moving average is $48.26 and its 200 day moving average is $64.34. Foot Locker, Inc. has a 12-month low of $44.59 and a 12-month high of $79.43. Foot Locker also saw unusually large options trading activity on Tuesday. Investors purchased 11,770 put options on the company. This represents an increase of approximately 447% compared to the average volume of 2,150 put options.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Wednesday, July 12th. Foot Locker’s payout ratio is 25.36%.
A number of analysts have issued reports on FL shares. Canaccord Genuity set a $75.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a report on Saturday, May 20th. Jefferies Group LLC restated a “buy” rating and issued a $88.00 target price on shares of Foot Locker in a research report on Friday, April 21st. B. Riley restated a “buy” rating and issued a $79.00 target price on shares of Foot Locker in a research report on Thursday, April 20th. Buckingham Research upgraded shares of Foot Locker from a “neutral” rating to a “buy” rating and boosted their target price for the company from $77.00 to $89.00 in a research report on Thursday, April 20th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $88.00 target price (down from $89.00) on shares of Foot Locker in a research report on Sunday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.92.
In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.40, for a total value of $332,640.00. Following the transaction, the director now owns 8,964 shares in the company, valued at approximately $532,461.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.
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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