Martingale Asset Management L P lowered its position in Foot Locker, Inc. (NYSE:FL) by 81.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,208 shares of the athletic footwear retailer’s stock after selling 65,810 shares during the quarter. Martingale Asset Management L P’s holdings in Foot Locker were worth $923,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc raised its holdings in Foot Locker by 0.7% during the third quarter. Vanguard Group Inc now owns 12,178,329 shares of the athletic footwear retailer’s stock worth $620,851,000 after purchasing an additional 85,314 shares in the last quarter. BlackRock Inc. grew its stake in Foot Locker by 2.1% in the fourth quarter. BlackRock Inc. now owns 7,046,767 shares of the athletic footwear retailer’s stock valued at $374,890,000 after acquiring an additional 146,138 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Foot Locker by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 5,361,255 shares of the athletic footwear retailer’s stock worth $285,219,000 after buying an additional 112,778 shares during the period. LSV Asset Management boosted its position in shares of Foot Locker by 23.5% during the first quarter. LSV Asset Management now owns 4,199,887 shares of the athletic footwear retailer’s stock worth $254,513,000 after buying an additional 798,850 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Foot Locker by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,685,329 shares of the athletic footwear retailer’s stock worth $142,856,000 after buying an additional 263,890 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on FL shares. TheStreet cut Foot Locker from a “b-” rating to a “c+” rating in a research report on Monday, June 17th. Pivotal Research reiterated a “buy” rating and set a $60.00 target price on shares of Foot Locker in a report on Tuesday, May 28th. ValuEngine lowered Foot Locker from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Credit Suisse Group upped their target price on Foot Locker from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, March 29th. Finally, Imperial Capital reiterated an “outperform” rating and set a $70.00 target price (up previously from $66.00) on shares of Foot Locker in a report on Monday, March 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. Foot Locker has an average rating of “Buy” and an average target price of $67.72.
Foot Locker (NYSE:FL) last released its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.08). The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Foot Locker had a return on equity of 21.75% and a net margin of 6.86%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 EPS. Equities research analysts expect that Foot Locker, Inc. will post 5.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, July 18th. Foot Locker’s dividend payout ratio is presently 32.27%.
Foot Locker 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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