Texas Permanent School Fund cut its stake in shares of Foot Locker, Inc. (NYSE:FL) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,245 shares of the athletic footwear retailer’s stock after selling 2,579 shares during the quarter. Texas Permanent School Fund’s holdings in Foot Locker were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in FL. Investec Asset Management LTD boosted its stake in shares of Foot Locker by 2.1% in the 2nd quarter. Investec Asset Management LTD now owns 3,287,156 shares of the athletic footwear retailer’s stock valued at $173,069,000 after purchasing an additional 67,060 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Foot Locker by 26.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock valued at $113,606,000 after purchasing an additional 453,209 shares during the last quarter. LSV Asset Management boosted its stake in shares of Foot Locker by 55.6% in the 2nd quarter. LSV Asset Management now owns 1,883,833 shares of the athletic footwear retailer’s stock valued at $99,183,000 after purchasing an additional 673,155 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Foot Locker by 2.1% in the 2nd quarter. Northern Trust Corp now owns 1,762,660 shares of the athletic footwear retailer’s stock valued at $92,804,000 after purchasing an additional 36,981 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Foot Locker in the 2nd quarter valued at $82,034,000. 97.84% of the stock is currently owned by institutional investors.
Foot Locker stock opened at $50.24 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 3.50. Foot Locker, Inc. has a 12-month low of $28.68 and a 12-month high of $59.40. The firm has a market cap of $5.79 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.76 and a beta of 0.84.
Foot Locker (NYSE:FL) last released 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company earned $0.62 EPS. Foot Locker’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Foot Locker, Inc. will post 4.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were given a dividend of $0.345 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.75%. Foot Locker’s payout ratio is presently 33.58%.
A number of equities research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Foot Locker in a research note on Wednesday, August 1st. They issued an “underweight” rating and a $44.00 price objective on the stock. Zacks Investment Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, July 17th. Wells Fargo & Co reduced their price objective on shares of Foot Locker from $57.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, August 27th. Jefferies Financial Group set a $60.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research note on Thursday, September 27th. Finally, TheStreet lowered shares of Foot Locker from a “b-” rating to a “c” rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Foot Locker currently has an average rating of “Buy” and a consensus target price of $56.13.
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.
Further Reading: Rule of 72
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