Engineers Gate Manager LP purchased a new position in Foot Locker, Inc. (NYSE:FL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 53,794 shares of the textile maker’s stock, valued at approximately $4,024,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Foot Locker during the fourth quarter worth $8,577,000. Alyeska Investment Group L.P. increased its stake in Foot Locker by 128.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 379,390 shares of the textile maker’s stock worth $26,895,000 after buying an additional 213,424 shares during the last quarter. Tyvor Capital LLC purchased a new stake in Foot Locker during the fourth quarter worth approximately $9,316,000. Prudential PLC increased its stake in Foot Locker by 20.8% in the fourth quarter. Prudential PLC now owns 350,600 shares of the textile maker’s stock worth $24,854,000 after buying an additional 60,400 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in Foot Locker by 2.9% in the fourth quarter. Systematic Financial Management LP now owns 139,627 shares of the textile maker’s stock worth $9,898,000 after buying an additional 3,984 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.
Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, May 19th. The textile maker reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by $0.02. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.02 billion. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.39 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. Foot Locker’s dividend payout ratio is currently 23.71%.
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A number of analysts have recently commented on FL shares. Wedbush restated an “outperform” rating and set a $80.00 price objective on shares of Foot Locker in a report on Tuesday, January 24th. Deutsche Bank AG dropped their price objective on Foot Locker from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, March 24th. Zacks Investment Research downgraded Foot Locker from a “hold” rating to a “sell” rating in a report on Wednesday, February 15th. Jefferies Group LLC set a $90.00 price objective on Foot Locker and gave the stock a “buy” rating in a report on Monday, March 27th. Finally, Canaccord Genuity upped their price objective on Foot Locker from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $80.91.
In related news, SVP Paulette Alviti sold 8,000 shares of Foot Locker stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $74.50, for a total value of $596,000.00. Following the transaction, the senior vice president now owns 36,641 shares in the company, valued at approximately $2,729,754.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lauren B. Peters sold 25,000 shares of Foot Locker stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $77.51, for a total transaction of $1,937,750.00. Following the completion of the transaction, the chief financial officer now owns 144,597 shares in the company, valued at approximately $11,207,713.47. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock worth $2,686,090 in the last 90 days. 2.92% of the stock is owned by insiders.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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