Comerica Bank Reduces Stake in Foot Locker, Inc. (FL)
Comerica Bank lessened its holdings in shares of Foot Locker, Inc. (NYSE:FL) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,518 shares of the athletic footwear retailer’s stock after selling 12,968 shares during the period. Comerica Bank’s holdings in Foot Locker were worth $1,392,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Foot Locker by 1,291.0% in the 2nd quarter. Janus Henderson Group PLC now owns 203,991 shares of the athletic footwear retailer’s stock worth $10,053,000 after purchasing an additional 189,326 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Foot Locker by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 971,685 shares of the athletic footwear retailer’s stock worth $47,882,000 after purchasing an additional 91,716 shares in the last quarter. Tobam boosted its stake in Foot Locker by 47.1% in the 2nd quarter. Tobam now owns 428,449 shares of the athletic footwear retailer’s stock worth $21,114,000 after purchasing an additional 137,206 shares in the last quarter. Bridgewater Associates LP boosted its stake in Foot Locker by 158.1% in the 2nd quarter. Bridgewater Associates LP now owns 228,939 shares of the athletic footwear retailer’s stock worth $11,282,000 after purchasing an additional 140,253 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its stake in Foot Locker by 131.7% in the 2nd quarter. Sentry Investment Management LLC now owns 10,579 shares of the athletic footwear retailer’s stock worth $521,000 after purchasing an additional 6,014 shares in the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research note on Tuesday, August 8th. Canaccord Genuity cut shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. B. Riley reiterated a “neutral” rating on shares of Foot Locker in a research note on Wednesday, November 1st. FBR & Co reiterated a “hold” rating on shares of Foot Locker in a research note on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.26.
Foot Locker, Inc. (FL) traded up $0.47 during midday trading on Friday, hitting $43.31. 5,990,000 shares of the stock traded hands, compared to its average volume of 6,250,967. Foot Locker, Inc. has a 12-month low of $28.42 and a 12-month high of $79.43. The stock has a market cap of $5,370.35, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.13 and a beta of 0.81. The company has a quick ratio of 2.08, a current ratio of 4.39 and a debt-to-equity ratio of 0.05.
Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. analysts forecast that Foot Locker, Inc. will post 4.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, January 19th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, January 18th. Foot Locker’s payout ratio is currently 31.16%.
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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