First Mercantile Trust Co. Lowers Stock Holdings in Foot Locker, Inc. (NYSE:FL)

First Mercantile Trust Co. lessened its position in Foot Locker, Inc. (NYSE:FL) by 24.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,747 shares of the athletic footwear retailer’s stock after selling 1,828 shares during the quarter. First Mercantile Trust Co.’s holdings in Foot Locker were worth $354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FL. Duality Advisers LP acquired a new stake in shares of Foot Locker in the second quarter valued at $489,000. ClariVest Asset Management LLC boosted its holdings in Foot Locker by 1,263.1% in the second quarter. ClariVest Asset Management LLC now owns 107,167 shares of the athletic footwear retailer’s stock valued at $6,605,000 after purchasing an additional 99,305 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in Foot Locker by 46.0% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 298,937 shares of the athletic footwear retailer’s stock valued at $18,423,000 after purchasing an additional 94,137 shares during the period. Meeder Asset Management Inc. boosted its holdings in Foot Locker by 55.9% in the second quarter. Meeder Asset Management Inc. now owns 14,940 shares of the athletic footwear retailer’s stock valued at $921,000 after purchasing an additional 5,354 shares during the period. Finally, Deseret Mutual Benefit Administrators purchased a new position in Foot Locker in the second quarter valued at $123,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

FL stock opened at $52.20 on Monday. The company’s 50-day moving average price is $57.14 and its two-hundred day moving average price is $58.38. Foot Locker, Inc. has a 12 month low of $31.41 and a 12 month high of $66.71. The firm has a market cap of $5.40 billion, a P/E ratio of 5.38, a P/E/G ratio of 1.84 and a beta of 1.37.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Thursday, August 19th. The athletic footwear retailer reported $2.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $1.20. Foot Locker had a net margin of 11.69% and a return on equity of 24.92%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Foot Locker, Inc. will post 7.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.30%. This is a boost from Foot Locker’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, October 14th. Foot Locker’s dividend payout ratio is 28.47%.

A number of brokerages have issued reports on FL. Telsey Advisory Group lifted their price target on Foot Locker from $64.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, August 23rd. Cowen boosted their target price on Foot Locker from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, August 23rd. JPMorgan Chase & Co. boosted their target price on Foot Locker from $58.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 16th. Credit Suisse Group boosted their target price on Foot Locker from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, May 24th. Finally, Morgan Stanley boosted their price target on Foot Locker from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $61.59.

In related news, major shareholder Vesa Equity Investment S.A R.L sold 115,954 shares of the firm’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $63.71, for a total value of $7,387,429.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John A. Maurer sold 3,650 shares of the firm’s stock in a transaction on Friday, July 9th. The shares were sold at an average price of $63.00, for a total value of $229,950.00. Following the transaction, the vice president now directly owns 26,104 shares of the company’s stock, valued at approximately $1,644,552. The disclosure for this sale can be found here. Insiders have sold 195,697 shares of company stock worth $12,436,587 over the last quarter. Company insiders own 3.00% of the company’s stock.

Foot Locker Company Profile

Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.

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Institutional Ownership by Quarter for Foot Locker (NYSE:FL)

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