Foot Locker, Inc. (FL) Shares Sold by Belpointe Asset Management LLC
Belpointe Asset Management LLC cut its stake in Foot Locker, Inc. (NYSE:FL) by 17.3% in the second quarter, Holdings Channel reports. The fund owned 9,191 shares of the athletic footwear retailer’s stock after selling 1,917 shares during the period. Belpointe Asset Management LLC’s holdings in Foot Locker were worth $484,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC bought a new position in shares of Foot Locker in the second quarter worth about $30,558,000. NewFocus Financial Group LLC grew its position in shares of Foot Locker by 4.6% during the 2nd quarter. NewFocus Financial Group LLC now owns 34,755 shares of the athletic footwear retailer’s stock worth $1,830,000 after buying an additional 1,516 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Foot Locker during the 2nd quarter worth approximately $588,000. Wedbush Securities Inc. acquired a new stake in shares of Foot Locker during the 2nd quarter worth approximately $257,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas grew its position in shares of Foot Locker by 21.7% during the 2nd quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 12,996 shares of the athletic footwear retailer’s stock worth $684,000 after buying an additional 2,321 shares during the period. 92.45% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on FL shares. ValuEngine cut shares of Foot Locker from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Buckingham Research reiterated a “buy” rating and set a $54.00 price target on shares of Foot Locker in a research report on Wednesday, April 18th. JPMorgan Chase & Co. lifted their price target on shares of Foot Locker from $42.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 29th. Morgan Stanley started coverage on shares of Foot Locker in a research report on Wednesday, August 1st. They set an “underweight” rating and a $44.00 price target for the company. Finally, Pivotal Research reiterated a “buy” rating and set a $57.00 price target on shares of Foot Locker in a research report on Tuesday, May 22nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $56.08.
Shares of NYSE FL opened at $47.97 on Friday. The company has a market cap of $5.56 billion, a P/E ratio of 11.67, a PEG ratio of 1.60 and a beta of 0.91. The company has a quick ratio of 2.04, a current ratio of 3.89 and a debt-to-equity ratio of 0.05. Foot Locker, Inc. has a 52-week low of $28.42 and a 52-week high of $59.40.
Foot Locker (NYSE:FL) last issued its quarterly earnings data on Friday, May 25th. The athletic footwear retailer reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.20. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Foot Locker had a net margin of 3.45% and a return on equity of 19.60%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. equities research analysts predict that Foot Locker, Inc. will post 4.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 3rd. Stockholders of record on Friday, July 20th were issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, July 19th. Foot Locker’s dividend payout ratio (DPR) is presently 33.58%.
Foot Locker Company Profile
Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.
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