Palo Capital Inc. acquired a new position in Foot Locker, Inc. (NYSE:FL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,229 shares of the athletic footwear retailer’s stock, valued at approximately $623,000.
A number of other institutional investors have also modified their holdings of FL. Renaissance Technologies LLC acquired a new position in Foot Locker during the second quarter worth $82,034,000. LSV Asset Management lifted its stake in Foot Locker by 55.6% during the second quarter. LSV Asset Management now owns 1,883,833 shares of the athletic footwear retailer’s stock worth $99,183,000 after purchasing an additional 673,155 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Foot Locker by 24,267.0% during the second quarter. Advisors Asset Management Inc. now owns 629,642 shares of the athletic footwear retailer’s stock worth $220,000 after purchasing an additional 627,058 shares in the last quarter. Pzena Investment Management LLC acquired a new position in Foot Locker during the second quarter worth $30,558,000. Finally, Dimensional Fund Advisors LP lifted its stake in Foot Locker by 26.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock worth $113,606,000 after purchasing an additional 453,209 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.
A number of research firms have commented on FL. Jefferies Financial Group set a $60.00 price target on Foot Locker and gave the stock a “buy” rating in a research note on Thursday, September 27th. Canaccord Genuity set a $63.00 price target on Foot Locker and gave the stock a “buy” rating in a research note on Monday, September 24th. Wells Fargo & Co upgraded Foot Locker from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $58.00 in a research note on Monday, September 10th. B. Riley decreased their price target on Foot Locker from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 28th. Finally, TheStreet cut Foot Locker from a “b-” rating to a “c” rating in a research note on Friday, August 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.13.
Foot Locker (NYSE:FL) last announced its quarterly earnings data on Friday, August 24th. The athletic footwear retailer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Foot Locker had a return on equity of 20.67% and a net margin of 3.88%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. As a group, analysts anticipate that Foot Locker, Inc. will post 4.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Friday, October 19th will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, October 18th. Foot Locker’s payout ratio is currently 33.58%.
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: Market Capitalization – What it Means for Investors
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