Suntrust Banks Inc. Reduces Position in Foot Locker, Inc. (FL)
Suntrust Banks Inc. cut its position in shares of Foot Locker, Inc. (NYSE:FL) by 28.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,469 shares of the athletic footwear retailer’s stock after selling 5,801 shares during the quarter. Suntrust Banks Inc.’s holdings in Foot Locker were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tobam boosted its position in shares of Foot Locker by 47.1% during the second quarter. Tobam now owns 428,449 shares of the athletic footwear retailer’s stock valued at $21,114,000 after purchasing an additional 137,206 shares in the last quarter. Omega Advisors Inc. bought a new stake in shares of Foot Locker during the first quarter valued at approximately $11,222,000. Bridgewater Associates LP boosted its position in shares of Foot Locker by 158.1% during the second quarter. Bridgewater Associates LP now owns 228,939 shares of the athletic footwear retailer’s stock valued at $11,282,000 after purchasing an additional 140,253 shares in the last quarter. BlackRock Inc. boosted its position in shares of Foot Locker by 2,189.3% during the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock valued at $685,553,000 after purchasing an additional 8,763,641 shares in the last quarter. Finally, Deltec Asset Management LLC bought a new stake in shares of Foot Locker during the second quarter valued at approximately $2,710,000. Institutional investors own 96.77% of the company’s stock.
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Foot Locker, Inc. (NYSE:FL) opened at 34.41 on Friday. Foot Locker, Inc. has a 52 week low of $31.56 and a 52 week high of $79.43. The company has a market capitalization of $4.27 billion, a price-to-earnings 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 posted its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Foot Locker’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts forecast that Foot Locker, Inc. will post $3.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 annualized dividend and a yield of 3.60%. Foot Locker’s dividend payout ratio (DPR) is currently 28.57%.
FL has been the topic of several research reports. ValuEngine lowered Foot Locker from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Standpoint Research assumed coverage on Foot Locker in a report on Monday, June 12th. They issued a “buy” rating and a $66.00 target price on the stock. Argus downgraded Foot Locker from a “buy” rating to a “hold” rating and set a $54.85 target price on the stock. in a report on Tuesday, June 13th. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Foot Locker in a report on Sunday, June 18th. Finally, Jefferies Group LLC set a $80.00 target price on Foot Locker and gave the stock a “buy” rating in a report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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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