Rafferty Asset Management LLC lifted its holdings in Foot Locker, Inc. (NYSE:FL) by 27.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,156 shares of the athletic footwear retailer’s stock after acquiring an additional 3,490 shares during the quarter. Rafferty Asset Management LLC’s holdings in Foot Locker were worth $996,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Foot Locker by 2.4% in the first quarter. BlackRock Inc. now owns 8,954,321 shares of the athletic footwear retailer’s stock worth $503,681,000 after acquiring an additional 205,795 shares during the period. Boston Partners boosted its holdings in Foot Locker by 6.4% during the first quarter. Boston Partners now owns 5,802,398 shares of the athletic footwear retailer’s stock worth $326,717,000 after buying an additional 351,167 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Foot Locker by 3.3% during the first quarter. Geode Capital Management LLC now owns 1,369,107 shares of the athletic footwear retailer’s stock worth $77,021,000 after buying an additional 43,649 shares in the last quarter. Ceredex Value Advisors LLC boosted its holdings in Foot Locker by 6.7% during the second quarter. Ceredex Value Advisors LLC now owns 1,308,650 shares of the athletic footwear retailer’s stock worth $80,652,000 after buying an additional 81,850 shares in the last quarter. Finally, Atreides Management LP purchased a new stake in Foot Locker during the first quarter worth $46,778,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.
In other news, major shareholder Vesa Equity Investment S.A R.L sold 115,954 shares of the firm’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $63.71, for a total value of $7,387,429.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Giovanna Cipriano sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $62.40, for a total transaction of $624,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,697 shares of company stock valued at $12,436,587. Company insiders own 3.00% of the company’s stock.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Thursday, August 19th. The athletic footwear retailer reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $1.20. Foot Locker had a net margin of 11.69% and a return on equity of 24.92%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts forecast that Foot Locker, Inc. will post 7.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, October 14th. This is a boost from Foot Locker’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.40%. Foot Locker’s dividend payout ratio (DPR) is currently 28.47%.
Several equities analysts have issued reports on FL shares. Credit Suisse Group increased their price objective on shares of Foot Locker from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, May 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Foot Locker from $72.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 23rd. Pivotal Research increased their price objective on shares of Foot Locker from $82.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 18th. The Goldman Sachs Group started coverage on shares of Foot Locker in a report on Thursday, July 22nd. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Telsey Advisory Group increased their price objective on shares of Foot Locker from $64.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $61.59.
Foot Locker Company Profile
Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.
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