Royal Bank of Canada Raises Position in Foot Locker, Inc. (FL)
Royal Bank of Canada increased its stake in shares of Foot Locker, Inc. (NYSE:FL) by 42.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 786,259 shares of the athletic footwear retailer’s stock after buying an additional 234,947 shares during the period. Royal Bank of Canada owned 0.60% of Foot Locker worth $38,746,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of FL. D.A. Davidson & CO. lifted its position in Foot Locker by 50.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock worth $105,000 after buying an additional 714 shares in the last quarter. Penserra Capital Management LLC lifted its position in Foot Locker by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock worth $148,000 after buying an additional 348 shares in the last quarter. Van ECK Associates Corp lifted its position in Foot Locker by 5.6% during the 1st quarter. Van ECK Associates Corp now owns 2,047 shares of the athletic footwear retailer’s stock worth $153,000 after buying an additional 109 shares in the last quarter. Pacer Advisors Inc. lifted its position in Foot Locker by 49.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock worth $194,000 after buying an additional 1,305 shares in the last quarter. Finally, Ffcm LLC lifted its position in Foot Locker by 9.3% during the 2nd quarter. Ffcm LLC now owns 4,072 shares of the athletic footwear retailer’s stock worth $201,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.
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Shares of Foot Locker, Inc. (NYSE FL) opened at 34.41 on Friday. Foot Locker, Inc. has a 1-year low of $31.56 and a 1-year high of $79.43. The company has a market capitalization of $4.27 billion, a PE ratio of 7.95 and a beta of 0.72. The company’s 50-day moving average price is $35.09 and its 200-day moving average price is $54.07.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.28). The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts expect that Foot Locker, Inc. will post $3.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 dividend on an annualized basis and a yield of 3.60%. Foot Locker’s payout ratio is currently 28.57%.
FL has been the subject of several recent research reports. Morgan Stanley raised Foot Locker from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $70.00 to $65.00 in a report on Tuesday, August 8th. Canaccord Genuity cut Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, August 18th. TheStreet cut Foot Locker from a “b-” rating to a “c+” rating in a report on Friday, June 30th. Argus cut Foot Locker from a “buy” rating to a “hold” rating and set a $54.85 price objective for the company. in a report on Tuesday, June 13th. Finally, FBR & Co reissued a “hold” rating on shares of Foot Locker in a report on Monday, August 21st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. Foot Locker currently has a consensus rating of “Hold” and a consensus price target of $64.38.
About Foot Locker
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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