M&T Bank Corp cut its stake in Foot Locker, Inc. (NYSE:FL) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,039 shares of the athletic footwear retailer’s stock after selling 5,086 shares during the quarter. M&T Bank Corp’s holdings in Foot Locker were worth $330,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of FL. Smithfield Trust Co. lifted its position in Foot Locker by 276.2% in the third quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after buying an additional 2,348 shares during the last quarter. Assetmark Inc. increased its stake in Foot Locker by 205.0% in the third quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after purchasing an additional 2,577 shares during the period. CenterStar Asset Management LLC purchased a new stake in Foot Locker in the fourth quarter worth $138,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Foot Locker in the fourth quarter worth $188,000. Finally, Cigna Investments Inc. New purchased a new stake in Foot Locker in the fourth quarter worth $217,000. Institutional investors own 92.35% of the company’s stock.
In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of Foot Locker stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total value of $499,392.18. Following the transaction, the director now owns 35,000 shares in the company, valued at $1,603,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Giovanna Cipriano sold 21,000 shares of Foot Locker stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $50.05, for a total value of $1,051,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,899 shares of company stock worth $2,801,692. Insiders own 2.90% of the company’s stock.
Foot Locker, Inc. (NYSE FL) opened at $48.25 on Friday. The company has a market capitalization of $5,850.00, a price-to-earnings ratio of 12.15, a PEG ratio of 2.25 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.09 and a current ratio of 4.41. Foot Locker, Inc. has a 52 week low of $28.42 and a 52 week high of $77.86.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 4th. Stockholders of record on Friday, April 20th will be paid a dividend of $0.345 per share. The ex-dividend date is Thursday, April 19th. This represents a $1.38 annualized dividend and a dividend yield of 2.86%. This is a positive change from Foot Locker’s previous quarterly dividend of $0.31. Foot Locker’s dividend payout ratio (DPR) is currently 31.23%.
A number of research firms have weighed in on FL. OTR Global upgraded Foot Locker to a “positive” rating in a research note on Friday, February 9th. Wedbush reiterated an “outperform” rating on shares of Foot Locker in a research note on Monday, February 5th. Zacks Investment Research upgraded Foot Locker from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a research note on Friday, February 2nd. ValuEngine lowered Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, CIBC upgraded Foot Locker from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.24.
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Foot Locker Profile
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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