Franklin Resources Inc. Purchases 6,651 Shares of Foot Locker, Inc. (FL)
Franklin Resources Inc. lifted its position in shares of Foot Locker, Inc. (NYSE:FL) by 53.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,035 shares of the athletic footwear retailer’s stock after acquiring an additional 6,651 shares during the period. Franklin Resources Inc.’s holdings in Foot Locker were worth $938,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in FL. Commonwealth Bank of Australia raised its holdings in shares of Foot Locker by 8.1% during the second quarter. Commonwealth Bank of Australia now owns 16,085 shares of the athletic footwear retailer’s stock valued at $791,000 after buying an additional 1,200 shares during the last quarter. Tredje AP fonden boosted its position in shares of Foot Locker by 175.0% during the second quarter. Tredje AP fonden now owns 32,390 shares of the athletic footwear retailer’s stock worth $1,596,000 after buying an additional 20,610 shares during the period. AGF Investments Inc. boosted its position in shares of Foot Locker by 50.6% during the second quarter. AGF Investments Inc. now owns 98,130 shares of the athletic footwear retailer’s stock worth $4,838,000 after buying an additional 32,950 shares during the period. AMG National Trust Bank boosted its position in shares of Foot Locker by 71.2% during the second quarter. AMG National Trust Bank now owns 9,843 shares of the athletic footwear retailer’s stock worth $485,000 after buying an additional 4,092 shares during the period. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in shares of Foot Locker during the second quarter worth approximately $645,000. Institutional investors and hedge funds own 96.77% of the company’s stock.
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A number of research analysts have issued reports on the company. Bank of America Corporation lowered Foot Locker from a “neutral” rating to an “underperform” rating in a research report on Friday, August 18th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target (down previously from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. BidaskClub raised Foot Locker from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. UBS AG reissued a “neutral” rating on shares of Foot Locker in a report on Monday, August 21st. Finally, Robert W. Baird reissued a “neutral” rating on shares of Foot Locker in a report on Sunday, August 20th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $65.21.
Foot Locker, Inc. (NYSE FL) opened at 34.75 on Tuesday. The stock has a 50 day moving average of $36.68 and a 200-day moving average of $54.95. Foot Locker, Inc. has a 52-week low of $31.56 and a 52-week high of $79.43. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 8.03 and a beta of 0.72.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.28). Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts forecast that Foot Locker, Inc. will post $3.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Thursday, October 12th. Foot Locker’s dividend payout ratio is currently 28.57%.
Foot Locker 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 is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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