OppenheimerFunds Inc. reduced its position in Foot Locker, Inc. (NYSE:FL) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,905 shares of the athletic footwear retailer’s stock after selling 3,791 shares during the quarter. OppenheimerFunds Inc.’s holdings in Foot Locker were worth $1,214,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings 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 last quarter. CenterStar Asset Management LLC purchased a new position in Foot Locker in the fourth quarter worth $138,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Foot Locker in the fourth quarter worth $188,000. Cigna Investments Inc. New purchased a new position in Foot Locker in the fourth quarter worth $217,000. Finally, Oakbrook Investments LLC purchased a new position in Foot Locker in the fourth quarter worth $218,000. 96.38% of the stock is currently owned by institutional investors and hedge funds.
FL has been the subject of several research reports. Pivotal Research initiated coverage on shares of Foot Locker in a research note on Thursday, January 25th. They set a “buy” rating and a $65.00 price objective for the company. Canaccord Genuity set a $67.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a research note on Friday, January 19th. Zacks Investment Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, December 26th. Citigroup reiterated a “buy” rating and set a $54.00 price objective on shares of Foot Locker in a research note on Tuesday, December 19th. Finally, Buckingham Research upgraded shares of Foot Locker from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $54.75.
FL traded down $1.45 on Friday, reaching $46.46. The stock had a trading volume of 1,954,234 shares, compared to its average volume of 3,086,363. Foot Locker, Inc. has a 12-month low of $28.42 and a 12-month high of $77.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.07 and a current ratio of 4.14. The stock has a market capitalization of $5,806.93, a price-to-earnings ratio of 11.30, a PEG ratio of 1.68 and a beta of 0.85.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, March 2nd. The athletic footwear retailer reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Foot Locker had a net margin of 3.65% and a return on equity of 19.32%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts forecast that Foot Locker, Inc. will post 4.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 4th. Shareholders of record on Friday, April 20th will be issued a $0.345 dividend. This is a boost from Foot Locker’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $1.38 dividend on an annualized basis and a yield of 2.97%. Foot Locker’s payout ratio is presently 30.17%.
In other news, SVP Giovanna Cipriano sold 21,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $50.05, for a total transaction of $1,051,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew M. Mckenna sold 10,899 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total transaction of $499,392.18. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,603,700. The disclosure for this sale can be found here. Insiders sold 69,442 shares of company stock valued at $3,338,499 in the last ninety days. 2.90% of the stock is owned by corporate insiders.
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Foot Locker Company 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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