Allianz Asset Management GmbH lessened its stake in shares of Foot Locker, Inc. (NYSE:FL) by 71.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 210,438 shares of the athletic footwear retailer’s stock after selling 538,715 shares during the quarter. Allianz Asset Management GmbH owned about 0.17% of Foot Locker worth $9,865,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of Foot Locker by 205.0% during the 3rd quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after buying an additional 2,577 shares during the last quarter. CenterStar Asset Management LLC acquired a new stake in shares of Foot Locker during the 4th quarter worth about $138,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Foot Locker during the 4th quarter worth about $188,000. Cigna Investments Inc. New acquired a new stake in shares of Foot Locker during the 4th quarter worth about $217,000. Finally, Court Place Advisors LLC acquired a new stake in shares of Foot Locker during the 3rd quarter worth about $218,000. Institutional investors own 96.49% of the company’s stock.
In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total transaction of $499,392.18. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,603,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Giovanna Cipriano sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $50.05, for a total transaction of $1,051,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,899 shares of company stock worth $2,801,692 over the last ninety days. 1.73% of the stock is currently owned by insiders.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, March 2nd. The athletic footwear retailer reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.23 billion. Foot Locker had a net margin of 3.65% and a return on equity of 19.32%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 EPS. research analysts anticipate that Foot Locker, Inc. will post 4.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 4th. Investors of record on Friday, April 20th will be issued a dividend of $0.345 per share. The ex-dividend date is Thursday, April 19th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.31. This represents a $1.38 annualized dividend and a dividend yield of 3.19%. Foot Locker’s payout ratio is 41.75%.
Several analysts have weighed in on FL shares. Buckingham Research dropped their price objective on shares of Foot Locker from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Pivotal Research reiterated a “buy” rating and issued a $57.00 price objective (down previously from $65.00) on shares of Foot Locker in a research note on Monday, March 5th. Zacks Investment Research cut shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup dropped their price objective on shares of Foot Locker from $54.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Finally, Guggenheim reiterated a “buy” rating and issued a $51.00 price objective on shares of Foot Locker in a research note on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.23.
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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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