Envestnet Asset Management Inc. lifted its stake in Foot Locker, Inc. (NYSE:FL) by 15.4% in the first quarter, HoldingsChannel.com reports. The firm owned 94,531 shares of the athletic footwear retailer’s stock after purchasing an additional 12,592 shares during the period. Envestnet Asset Management Inc.’s holdings in Foot Locker were worth $5,729,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new stake in Foot Locker in the 4th quarter worth about $26,000. Bremer Bank National Association purchased a new stake in Foot Locker in the 1st quarter worth about $26,000. CWM LLC lifted its stake in Foot Locker by 264.1% in the 1st quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Investors Research Corp purchased a new stake in Foot Locker in the 1st quarter worth about $30,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in Foot Locker in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 99.53% of the company’s stock.
FL opened at $43.05 on Friday. Foot Locker, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $68.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.01 and a quick ratio of 1.07. The stock has a market cap of $4.74 billion, a PE ratio of 8.80, a PEG ratio of 0.85 and a beta of 1.00.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.08). Foot Locker had a return on equity of 21.74% and a net margin of 6.86%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the business earned $1.45 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts forecast that Foot Locker, Inc. will post 5.02 EPS for the current fiscal year.
Foot Locker declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 20th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the athletic footwear retailer to purchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Thursday, July 18th. Foot Locker’s payout ratio is 32.27%.
FL has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $66.00 price objective on shares of Foot Locker in a research note on Thursday, February 21st. Canaccord Genuity set a $64.00 price objective on Foot Locker and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Pivotal Research raised Foot Locker from a “hold” rating to a “buy” rating and increased their price objective for the stock from $64.00 to $73.00 in a research note on Monday, March 4th. ValuEngine raised Foot Locker from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Finally, Citigroup raised their price target on Foot Locker from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.26.
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Foot Locker 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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