Bank of New York Mellon Corp decreased its holdings in Foot Locker, Inc. (NYSE:FL) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,104,187 shares of the athletic footwear retailer’s stock after selling 102,690 shares during the period. Bank of New York Mellon Corp owned about 4.37% of Foot Locker worth $268,735,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in FL. Vestpro Financial Partners Inc. dba CPF Texas grew its position in shares of Foot Locker by 21.7% in the second quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 12,996 shares of the athletic footwear retailer’s stock valued at $684,000 after purchasing an additional 2,321 shares during the last quarter. Zacks Investment Management grew its position in shares of Foot Locker by 5.4% in the second quarter. Zacks Investment Management now owns 28,220 shares of the athletic footwear retailer’s stock valued at $1,486,000 after purchasing an additional 1,440 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Foot Locker by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock valued at $113,606,000 after purchasing an additional 453,209 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Foot Locker in the second quarter valued at approximately $82,034,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of Foot Locker by 21.0% in the second quarter. Public Employees Retirement System of Ohio now owns 57,352 shares of the athletic footwear retailer’s stock valued at $3,020,000 after purchasing an additional 9,963 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.
Several equities analysts have recently commented on FL shares. Pivotal Research set a $64.00 target price on Foot Locker and gave the company a “buy” rating in a research report on Monday, August 27th. Canaccord Genuity set a $63.00 target price on Foot Locker and gave the company a “buy” rating in a research report on Monday, September 24th. ValuEngine downgraded Foot Locker from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Zacks Investment Research downgraded Foot Locker from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Finally, B. Riley decreased their target price on Foot Locker from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $56.13.
Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, August 24th. The athletic footwear retailer reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 billion. Foot Locker had a return on equity of 20.67% and a net margin of 3.88%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. On average, analysts anticipate that Foot Locker, Inc. will post 4.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 18th. Foot Locker’s dividend payout ratio is currently 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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