Comerica Bank Sells 5,973 Shares of Foot Locker, Inc. (FL)

Comerica Bank decreased its position in shares of Foot Locker, Inc. (NYSE:FL) by 19.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,374 shares of the athletic footwear retailer’s stock after selling 5,973 shares during the quarter. Comerica Bank’s holdings in Foot Locker were worth $1,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in Foot Locker by 27.2% during the second quarter. Commonwealth Equity Services LLC now owns 19,556 shares of the athletic footwear retailer’s stock worth $1,030,000 after buying an additional 4,184 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Foot Locker by 21.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,932 shares of the athletic footwear retailer’s stock worth $576,000 after buying an additional 1,912 shares during the period. Fiera Capital Corp acquired a new position in Foot Locker during the second quarter worth about $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Foot Locker during the second quarter worth about $651,000. Finally, Sei Investments Co. grew its position in Foot Locker by 163.8% during the second quarter. Sei Investments Co. now owns 94,089 shares of the athletic footwear retailer’s stock worth $4,954,000 after buying an additional 58,416 shares during the period. Hedge funds and other institutional investors own 99.96% of the company’s stock.

Shares of NYSE FL opened at $53.05 on Friday. Foot Locker, Inc. has a 12-month low of $38.17 and a 12-month high of $59.40. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85. The company has a current ratio of 3.42, a quick ratio of 1.54 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.03. Foot Locker had a net margin of 4.24% and a return on equity of 21.01%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts predict that Foot Locker, Inc. will post 4.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Friday, January 18th will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, January 17th. Foot Locker’s dividend payout ratio (DPR) is presently 33.58%.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Wednesday. TheStreet upgraded shares of Foot Locker from a “c” rating to a “b-” rating in a research report on Tuesday, November 20th. Cowen set a $56.00 target price on shares of Foot Locker and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Morgan Stanley set a $44.00 target price on shares of Foot Locker and gave the stock a “sell” rating in a research report on Wednesday, November 21st. Finally, Citigroup upped their target price on shares of Foot Locker from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $59.09.

In related news, Director Matthew M. Mckenna sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.81, for a total transaction of $355,670.00. Following the transaction, the director now owns 30,459 shares of the company’s stock, valued at $1,547,621.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John A. Maurer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the vice president now directly owns 25,581 shares in the company, valued at approximately $1,355,793. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

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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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Institutional Ownership by Quarter for Foot Locker (NYSE:FL)

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