Comerica Bank lowered its holdings in Foot Locker, Inc. (NYSE:FL) by 19.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 24,374 shares of the athletic footwear retailer’s stock after selling 5,973 shares during the quarter. Comerica Bank’s holdings in Foot Locker were worth $1,146,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR acquired a new stake in Foot Locker during the 2nd quarter valued at $203,000. Fiera Capital Corp acquired a new stake in Foot Locker during the 2nd quarter valued at $208,000. Advisors Asset Management Inc. grew its holdings in Foot Locker by 24,267.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 629,642 shares of the athletic footwear retailer’s stock valued at $220,000 after purchasing an additional 627,058 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Foot Locker during the 2nd quarter valued at $221,000. Finally, Point72 Hong Kong Ltd grew its holdings in Foot Locker by 131.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 4,241 shares of the athletic footwear retailer’s stock valued at $223,000 after purchasing an additional 2,411 shares in the last quarter. 99.96% of the stock is owned by institutional investors.
Foot Locker stock opened at $53.05 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.42. Foot Locker, Inc. has a 1 year low of $38.17 and a 1 year high of $59.40. The stock has a market capitalization of $6.31 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.03. Foot Locker had a net margin of 4.24% and a return on equity of 21.01%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.87 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that Foot Locker, Inc. will post 4.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 18th will be given a $0.345 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.60%. Foot Locker’s payout ratio is currently 33.58%.
In other news, Director Matthew M. Mckenna sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $50.81, for a total value of $355,670.00. Following the transaction, the director now directly owns 30,459 shares in the company, valued at approximately $1,547,621.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John A. Maurer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the transaction, the vice president now owns 25,581 shares in the company, valued at $1,355,793. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. OTR Global upgraded shares of Foot Locker to a “positive” rating in a research note on Thursday, August 16th. Canaccord Genuity set a $66.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research note on Friday, August 17th. Pivotal Research reiterated a “buy” rating and set a $64.00 price objective on shares of Foot Locker in a research note on Monday, August 20th. Finally, ValuEngine upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $59.09.
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.
Further Reading: Cash Flow
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