Nordea Investment Management AB raised its holdings in Foot Locker, Inc. (NYSE:FL) by 53.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,566 shares of the athletic footwear retailer’s stock after acquiring an additional 66,347 shares during the quarter. Nordea Investment Management AB owned 0.17% of Foot Locker worth $11,550,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Bremer Bank National Association acquired a new position in shares of Foot Locker during the 1st quarter worth $26,000. CWM LLC raised its stake in Foot Locker by 264.1% in the 1st quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Bremer Trust National Association acquired a new position in Foot Locker in the 4th quarter valued at about $26,000. Investors Research Corp acquired a new position in Foot Locker in the 1st quarter valued at about $30,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Foot Locker in the 1st quarter valued at about $33,000. 99.53% of the stock is owned by institutional investors.
FL traded up $0.60 during midday trading on Friday, hitting $41.87. The company’s stock had a trading volume of 2,027,103 shares, compared to its average volume of 2,671,169. The company has a current ratio of 2.01, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 0.83 and a beta of 0.99. The firm has a 50-day simple moving average of $41.96. Foot Locker, Inc. has a 52-week low of $39.06 and a 52-week high of $68.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, July 18th. Foot Locker’s payout ratio is currently 32.27%.
Several research analysts recently weighed in on FL shares. Morgan Stanley cut their target price on shares of Foot Locker from $44.00 to $40.00 and set an “underweight” rating for the company in a research note on Tuesday, May 28th. TheStreet downgraded shares of Timkensteel from a “c-” rating to a “d+” rating in a research note on Monday, June 17th. Canaccord Genuity cut their target price on shares of Foot Locker from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Credit Suisse Group set a GBX 6,350 ($82.97) target price on shares of AstraZeneca and gave the company a “buy” rating in a research note on Friday, March 29th. Finally, Citigroup started coverage on shares of Dicks Sporting Goods in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $67.72.
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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