Terra Nova Asset Management LLC Sells 19,635 Shares of Foot Locker Inc. (FL)
Terra Nova Asset Management LLC decreased its stake in Foot Locker Inc. (NYSE:FL) by 84.1% during the second quarter, Holdings Channel reports. The institutional investor owned 3,700 shares of the company’s stock after selling 19,635 shares during the period. Terra Nova Asset Management LLC’s holdings in Foot Locker were worth $203,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of FL. Strs Ohio boosted its stake in Foot Locker by 31.7% in the second quarter. Strs Ohio now owns 13,830 shares of the company’s stock valued at $758,000 after buying an additional 3,326 shares during the last quarter. HL Financial Services LLC boosted its stake in Foot Locker by 9.8% in the second quarter. HL Financial Services LLC now owns 3,659 shares of the company’s stock valued at $201,000 after buying an additional 328 shares during the last quarter. Seven Bridges Advisors LLC boosted its stake in Foot Locker by 32.5% in the second quarter. Seven Bridges Advisors LLC now owns 20,141 shares of the company’s stock valued at $1,105,000 after buying an additional 4,942 shares during the last quarter. Bank of Montreal Can purchased a new stake in Foot Locker during the second quarter valued at $74,928,000. Finally, Sanders Morris Harris Inc. boosted its stake in Foot Locker by 42.9% in the second quarter. Sanders Morris Harris Inc. now owns 10,000 shares of the company’s stock valued at $549,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.
Shares of Foot Locker Inc. (NYSE:FL) traded up 1.09% on Wednesday, hitting $66.52. The stock had a trading volume of 1,156,728 shares. Foot Locker Inc. has a 1-year low of $50.90 and a 1-year high of $77.25. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 16.55 and a beta of 0.63. The firm has a 50 day moving average of $64.06 and a 200-day moving average of $60.35.
Foot Locker (NYSE:FL) last posted its earnings results on Friday, August 19th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Foot Locker had a return on equity of 23.99% and a net margin of 7.35%. Foot Locker’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. Equities analysts predict that Foot Locker Inc. will post $4.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.10 annualized dividend and a dividend yield of 1.65%. Foot Locker’s payout ratio is presently 27.23%.
Several analysts recently weighed in on FL shares. Zacks Investment Research raised Foot Locker from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Canaccord Genuity set a $75.00 price target on Foot Locker and gave the stock a “buy” rating in a report on Monday, August 15th. Brean Capital lifted their price target on Foot Locker from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Citigroup Inc. reissued a “buy” rating on shares of Foot Locker in a report on Tuesday, May 24th. Finally, Telsey Advisory Group lifted their price target on Foot Locker from $72.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $73.62.
In other Foot Locker news, Director Jarobin Gilbert, Jr. sold 1,000 shares of Foot Locker stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $57.36, for a total transaction of $57,360.00. Following the sale, the director now directly owns 12,876 shares of the company’s stock, valued at approximately $738,567.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lewis Phillip Kimble sold 43,479 shares of Foot Locker stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $65.40, for a total value of $2,843,526.60. Following the sale, the chief executive officer now directly owns 26,131 shares in the company, valued at $1,708,967.40. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
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’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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