State of Alaska Department of Revenue grew its stake in shares of Foot Locker, Inc. (NYSE:FL) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,668 shares of the athletic footwear retailer’s stock after acquiring an additional 4,857 shares during the quarter. State of Alaska Department of Revenue’s holdings in Foot Locker were worth $2,225,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of FL. Trilogy Capital Inc. acquired a new position in shares of Foot Locker during the first quarter valued at about $172,000. Stephens Inc. AR acquired a new position in Foot Locker in the 2nd quarter worth approximately $203,000. Fiera Capital Corp acquired a new position in Foot Locker in the 2nd quarter worth approximately $208,000. Advisors Asset Management Inc. increased its holdings in Foot Locker by 61.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock worth $220,000 after buying an additional 1,592 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Foot Locker in the 2nd quarter worth approximately $221,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.
Several brokerages recently weighed in on FL. Jefferies Financial Group set a $60.00 price target on shares of Foot Locker and gave the stock a “buy” rating in a report on Thursday, September 27th. Canaccord Genuity set a $63.00 price target on shares of Foot Locker and gave the stock a “buy” rating in a report on Monday, September 24th. Wells Fargo & Co upgraded shares of Foot Locker from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $58.00 in a report on Monday, September 10th. B. Riley cut their price target on shares of Foot Locker from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, August 28th. Finally, TheStreet downgraded shares of Foot Locker from a “b-” rating to a “c” rating in a report on Friday, August 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $56.13.
Foot Locker (NYSE:FL) last issued its quarterly earnings data on Friday, August 24th. The athletic footwear retailer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Foot Locker had a net margin of 3.88% and a return on equity of 20.67%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. As a group, analysts forecast that Foot Locker, Inc. will post 4.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Friday, October 19th will be paid a dividend of $0.345 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.80%. Foot Locker’s payout ratio is 33.58%.
About Foot Locker
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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