Clinton Group Inc. bought a new stake in Foot Locker, Inc. (NYSE:FL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,484 shares of the athletic footwear retailer’s stock, valued at approximately $2,869,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of FL. Signaturefd LLC acquired a new position in shares of Foot Locker in the first quarter valued at $103,000. Synovus Financial Corp acquired a new position in Foot Locker during the first quarter worth $158,000. Rampart Investment Management Company LLC raised its stake in Foot Locker by 119.0% during the first quarter. Rampart Investment Management Company LLC now owns 3,626 shares of the athletic footwear retailer’s stock worth $165,000 after acquiring an additional 1,970 shares in the last quarter. Trilogy Capital Inc. acquired a new position in Foot Locker during the first quarter worth $172,000. Finally, Advisor Partners LLC acquired a new position in Foot Locker during the first quarter worth $209,000. Institutional investors and hedge funds own 93.23% of the company’s stock.
FL has been the subject of several recent analyst reports. TheStreet upgraded Foot Locker from a “c+” rating to a “b-” rating in a research note on Monday, June 18th. Jefferies Financial Group increased their price objective on Foot Locker to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Canaccord Genuity reiterated a “buy” rating and set a $66.00 price objective on shares of Foot Locker in a research note on Tuesday, May 22nd. Pivotal Research reiterated a “buy” rating and set a $57.00 price objective on shares of Foot Locker in a research note on Tuesday, May 22nd. Finally, Buckingham Research reiterated a “buy” rating and set a $54.00 price objective on shares of Foot Locker in a research note on Wednesday, April 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. Foot Locker has an average rating of “Hold” and a consensus target price of $56.24.
In related news, CFO Lauren B. Peters sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $51.85, for a total value of $1,296,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.
Shares of FL stock opened at $52.30 on Friday. The company has a current ratio of 3.89, a quick ratio of 2.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.10 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.95. Foot Locker, Inc. has a 52 week low of $28.42 and a 52 week high of $59.40.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, May 25th. The athletic footwear retailer reported $1.45 EPS for the quarter, topping the consensus estimate of $1.25 by $0.20. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Foot Locker had a return on equity of 19.60% and a net margin of 3.45%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. equities analysts predict that Foot Locker, Inc. will post 4.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 3rd. Stockholders of record on Friday, July 20th will be issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, July 19th. Foot Locker’s payout ratio is presently 33.58%.
Foot Locker Company 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.
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