Assenagon Asset Management S.A. bought a new position in Foot Locker, Inc. (NYSE:FL) during the third quarter, HoldingsChannel reports. The firm bought 413,769 shares of the athletic footwear retailer’s stock, valued at approximately $21,094,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Stifel Financial Corp purchased a new stake in Foot Locker in the 1st quarter valued at about $224,000. CIBC World Markets Inc. increased its stake in Foot Locker by 67.6% in the 1st quarter. CIBC World Markets Inc. now owns 19,513 shares of the athletic footwear retailer’s stock valued at $889,000 after buying an additional 7,867 shares during the last quarter. Clinton Group Inc. purchased a new stake in Foot Locker in the 2nd quarter valued at about $2,869,000. Fulton Bank N.A. purchased a new stake in Foot Locker in the 2nd quarter valued at about $229,000. Finally, Handelsbanken Fonder AB purchased a new stake in Foot Locker in the 2nd quarter valued at about $337,000. Institutional investors own 96.95% of the company’s stock.
Several research firms have commented on FL. 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. Canaccord Genuity set a $63.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research note on Monday, September 24th. Wells Fargo & Co upgraded shares of Foot Locker from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $58.00 in a research note on Monday, September 10th. B. Riley decreased their price objective on shares of Foot Locker from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, August 28th. Finally, TheStreet lowered shares of 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 issued a buy rating to the company. Foot Locker currently has an average rating of “Buy” and an average price target of $56.13.
Foot Locker (NYSE:FL) last released its earnings results on Friday, August 24th. The athletic footwear retailer reported $0.75 earnings per share 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 firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm earned $0.62 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities 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 will be paid on Friday, November 2nd. Stockholders of record on Friday, October 19th will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, October 18th. Foot Locker’s dividend 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.
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