Teacher Retirement System of Texas Decreases Stake in Foot Locker, Inc. (FL)
Teacher Retirement System of Texas decreased its stake in Foot Locker, Inc. (NYSE:FL) by 5.5% during the first quarter, Holdings Channel reports. The institutional investor owned 337,144 shares of the athletic footwear retailer’s stock after selling 19,682 shares during the period. Teacher Retirement System of Texas owned approximately 0.26% of Foot Locker worth $25,222,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Foot Locker during the fourth quarter valued at $9,219,000. Aberdeen Asset Management PLC UK raised its stake in Foot Locker by 2.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 39,275 shares of the athletic footwear retailer’s stock valued at $2,784,000 after buying an additional 862 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Foot Locker by 30.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 5,531 shares of the athletic footwear retailer’s stock valued at $392,000 after buying an additional 1,285 shares in the last quarter. Cipher Capital LP bought a new stake in Foot Locker during the fourth quarter valued at $318,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Foot Locker during the fourth quarter valued at $309,000. 96.45% of the stock is owned by institutional investors and hedge funds.
Foot Locker, Inc. (FL) traded down 1.50% during trading on Friday, reaching $52.04. The company’s stock had a trading volume of 6,714,121 shares. The company’s 50 day moving average price is $64.78 and its 200 day moving average price is $70.92. Foot Locker, Inc. has a 52 week low of $50.59 and a 52 week high of $79.43. The company has a market cap of $6.83 billion, a P/E ratio of 10.68 and a beta of 0.63.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.38%. Foot Locker’s dividend payout ratio is 25.36%.
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Several equities research analysts have recently weighed in on FL shares. B. Riley reissued a “buy” rating and set a $79.00 price objective on shares of Foot Locker in a research note on Tuesday, February 21st. Brean Capital reissued a “buy” rating and set a $78.00 price objective (up from $77.00) on shares of Foot Locker in a research note on Wednesday, February 22nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $81.00 target price (up previously from $76.00) on shares of Foot Locker in a research report on Wednesday, February 22nd. Canaccord Genuity raised their target price on Foot Locker from $83.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Finally, Piper Jaffray Companies set a $76.00 target price on Foot Locker and gave the stock a “hold” rating in a research report on Friday, February 24th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Foot Locker currently has an average rating of “Buy” and an average target price of $74.62.
In other news, SVP Paulette Alviti sold 8,000 shares of the stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $74.50, for a total transaction of $596,000.00. Following the completion of the transaction, the senior vice president now directly owns 36,641 shares in the company, valued at approximately $2,729,754.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jarobin Gilbert, Jr. sold 5,600 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total transaction of $332,640.00. Following the transaction, the director now owns 8,964 shares of the company’s stock, valued at $532,461.60. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
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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