BlackRock Inc. lessened its stake in Foot Locker, Inc. (NYSE:FL) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,882,390 shares of the athletic footwear retailer’s stock after selling 321,422 shares during the period. BlackRock Inc. owned 5.89% of Foot Locker worth $362,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas boosted its stake in shares of Foot Locker by 21.7% during the second 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. BP PLC acquired a new stake in shares of Foot Locker during the second quarter worth about $843,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Foot Locker by 94.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 68,000 shares of the athletic footwear retailer’s stock worth $3,097,000 after buying an additional 33,000 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Foot Locker by 12.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,160,848 shares of the athletic footwear retailer’s stock worth $61,119,000 after buying an additional 131,552 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Foot Locker during the first quarter worth about $224,000. Institutional investors and hedge funds own 95.15% of the company’s stock.
Shares of Foot Locker stock opened at $47.04 on Friday. Foot Locker, Inc. has a 12-month low of $28.42 and a 12-month high of $59.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.50 and a quick ratio of 1.76. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.64 and a beta of 0.82.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, August 24th. The athletic footwear retailer reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. Foot Locker had a net margin of 3.88% and a return on equity of 20.67%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. sell-side analysts predict that Foot Locker, Inc. will post 4.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders 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 2.93%. Foot Locker’s dividend payout ratio (DPR) is presently 33.58%.
Several equities research analysts have recently weighed in on the stock. TheStreet upgraded shares of Foot Locker from a “c+” rating to a “b-” rating in a research note on Monday, June 18th. Pivotal Research set a $64.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research report on Monday, August 27th. Wells Fargo & Co upgraded shares of Foot Locker from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $58.00 in a research report on Monday. B. Riley raised their price objective on shares of Foot Locker to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, May 29th. Finally, UBS Group began coverage on shares of Foot Locker in a research report on Thursday, June 21st. They issued a “neutral” rating and a $59.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $56.33.
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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