Palladium Partners LLC reduced its position in shares of Foot Locker, Inc. (NYSE:FL) by 88.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,760 shares of the athletic footwear retailer’s stock after selling 125,825 shares during the period. Palladium Partners LLC’s holdings in Foot Locker were worth $777,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Foot Locker by 130.0% in the first quarter. JPMorgan Chase & Co. now owns 698,340 shares of the athletic footwear retailer’s stock worth $52,244,000 after buying an additional 394,688 shares in the last quarter. Todd Asset Management LLC raised its position in shares of Foot Locker by 34.3% in the first quarter. Todd Asset Management LLC now owns 582,371 shares of the athletic footwear retailer’s stock worth $43,567,000 after buying an additional 148,889 shares during the period. Omega Advisors Inc. acquired a new position in shares of Foot Locker during the first quarter worth approximately $11,222,000. Russell Investments Group Ltd. raised its position in shares of Foot Locker by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 138,739 shares of the athletic footwear retailer’s stock worth $10,382,000 after buying an additional 8,617 shares during the period. Finally, BlackRock Inc. raised its position in shares of Foot Locker by 2,189.3% in the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock worth $685,553,000 after buying an additional 8,763,641 shares during the period. 93.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Foot Locker, Inc. (NYSE FL) traded down 0.31% during trading on Thursday, hitting $48.42. 2,606,214 shares of the stock were exchanged. The firm has a 50 day moving average of $48.35 and a 200-day moving average of $63.62. Foot Locker, Inc. has a 52-week low of $44.59 and a 52-week high of $79.43. The stock has a market cap of $6.36 billion, a PE ratio of 9.93 and a beta of 0.68.
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 issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.55%. Foot Locker’s payout ratio is currently 25.36%.
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A number of equities analysts recently weighed in on FL shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Foot Locker in a research note on Tuesday. FBR & Co set a $58.00 price target on shares of Foot Locker and gave the company a “hold” rating in a research note on Tuesday. BidaskClub raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Morgan Stanley raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $70.00 to $65.00 in a research report on Tuesday, August 8th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Foot Locker has a consensus rating of “Buy” and a consensus target price of $72.17.
In other Foot Locker news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total value of $332,640.00. Following the transaction, the director now owns 8,964 shares in the company, valued at approximately $532,461.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.
Foot Locker Company 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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