Polaris Greystone Financial Group LLC Acquires New Position in Foot Locker, Inc. (FL)
Polaris Greystone Financial Group LLC acquired a new position in Foot Locker, Inc. (NYSE:FL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,030 shares of the athletic footwear retailer’s stock, valued at approximately $256,000.
Other institutional investors have also bought and sold shares of the company. Stephens Inc. AR acquired a new position in Foot Locker in the second quarter worth $203,000. Fiera Capital Corp bought a new stake in shares of Foot Locker during the second quarter worth $208,000. Advisors Asset Management Inc. raised its position in shares of Foot Locker by 61.6% during the second quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock worth $220,000 after acquiring an additional 1,592 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Foot Locker during the second quarter worth $221,000. Finally, Point72 Hong Kong Ltd raised its position in shares of Foot Locker by 131.7% during the second quarter. Point72 Hong Kong Ltd now owns 4,241 shares of the athletic footwear retailer’s stock worth $223,000 after acquiring an additional 2,411 shares during the last quarter. 96.84% of the stock is currently owned by institutional investors.
FL has been the subject of a number of recent research reports. ValuEngine downgraded Foot Locker from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Zacks Investment Research downgraded Foot Locker from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Canaccord Genuity set a $66.00 target price on Foot Locker and gave the stock a “buy” rating in a research report on Friday, August 17th. OTR Global upgraded Foot Locker to a “positive” rating in a research report on Thursday, August 16th. Finally, Credit Suisse Group dropped their target price on Foot Locker from $62.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, August 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $56.13.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 24th. The athletic footwear retailer reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.76 billion. Foot Locker had a return on equity of 20.67% and a net margin of 3.88%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, equities research analysts predict that Foot Locker, Inc. will post 4.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.38 dividend on an annualized basis and a yield of 2.91%. Foot Locker’s dividend payout ratio is presently 33.58%.
About Foot Locker
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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