K2 Principal Fund L.P. Invests $724,000 in Foot Locker, Inc. (FL) Stock
K2 Principal Fund L.P. bought a new stake in Foot Locker, Inc. (NYSE:FL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,700 shares of the athletic footwear retailer’s stock, valued at approximately $724,000.
Other hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after acquiring an additional 714 shares during the period. Penserra Capital Management LLC lifted its holdings in Foot Locker by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock valued at $148,000 after acquiring an additional 348 shares during the period. Van ECK Associates Corp lifted its holdings in Foot Locker by 5.6% in the first quarter. Van ECK Associates Corp now owns 2,047 shares of the athletic footwear retailer’s stock valued at $153,000 after acquiring an additional 109 shares during the period. Pacer Advisors Inc. lifted its holdings in Foot Locker by 49.6% in the second quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock valued at $194,000 after acquiring an additional 1,305 shares during the period. Finally, Ffcm LLC lifted its holdings in Foot Locker by 9.3% in the second quarter. Ffcm LLC now owns 4,072 shares of the athletic footwear retailer’s stock valued at $201,000 after acquiring an additional 348 shares during the period. 96.77% of the stock is currently owned by institutional investors.
Foot Locker, Inc. (NYSE FL) traded up 1.34% during trading on Friday, reaching $34.15. The company’s stock had a trading volume of 1,379,134 shares. The stock has a 50-day moving average of $40.33 and a 200 day moving average of $57.66. The firm has a market capitalization of $4.23 billion, a P/E ratio of 7.89 and a beta of 0.73. Foot Locker, Inc. has a one year low of $31.56 and a one year high of $79.43.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.28). Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company earned $0.94 EPS. Foot Locker’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that Foot Locker, Inc. will post $3.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.68%. Foot Locker’s payout ratio is currently 28.57%.
FL has been the topic of a number of recent research reports. BidaskClub downgraded Foot Locker from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. TheStreet downgraded Foot Locker from a “b-” rating to a “c+” rating in a report on Friday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 target price (down previously from $65.00) on shares of Foot Locker in a report on Tuesday, August 29th. Jefferies Group LLC set a $80.00 target price on Foot Locker and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Oppenheimer Holdings, Inc. initiated coverage on Foot Locker in a report on Friday, July 7th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $65.21.
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Foot Locker 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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