State Board of Administration of Florida Retirement System Sells 92,364 Shares of Foot Locker, Inc. (NYSE:FL)

State Board of Administration of Florida Retirement System trimmed its holdings in shares of Foot Locker, Inc. (NYSE:FLGet Rating) by 75.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,170 shares of the athletic footwear retailer’s stock after selling 92,364 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Foot Locker were worth $762,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FL. Meeder Asset Management Inc. bought a new stake in shares of Foot Locker in the 1st quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Foot Locker by 173.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 849 shares of the athletic footwear retailer’s stock valued at $25,000 after purchasing an additional 539 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Foot Locker by 68.3% in the 1st quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 542 shares during the last quarter. CX Institutional bought a new stake in shares of Foot Locker in the 2nd quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC bought a new position in Foot Locker during the second quarter worth $47,000. 98.06% of the stock is owned by institutional investors.

Foot Locker Stock Performance

Shares of FL stock opened at $35.88 on Friday. Foot Locker, Inc. has a one year low of $23.85 and a one year high of $53.87. The firm has a 50-day moving average of $33.28 and a 200-day moving average of $31.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.46 and a quick ratio of 0.42. The company has a market cap of $3.35 billion, a P/E ratio of 7.32, a P/E/G ratio of 0.23 and a beta of 1.24.

Foot Locker (NYSE:FLGet Rating) last posted its quarterly earnings data on Friday, August 19th. The athletic footwear retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.35. Foot Locker had a net margin of 5.56% and a return on equity of 19.33%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company posted $2.21 earnings per share. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities research analysts forecast that Foot Locker, Inc. will post 4.28 EPS for the current fiscal year.

Foot Locker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $1.60 dividend on an annualized basis and a yield of 4.46%. Foot Locker’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FL shares. Barclays raised shares of Foot Locker from an “underweight” rating to an “equal weight” rating in a research note on Monday, August 22nd. StockNews.com raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Thursday. Telsey Advisory Group cut their target price on shares of Foot Locker from $42.00 to $37.00 and set a “market perform” rating on the stock in a research note on Thursday, October 13th. Robert W. Baird increased their target price on shares of Foot Locker from $32.00 to $40.00 in a research note on Monday, August 22nd. Finally, B. Riley upped their price objective on shares of Foot Locker from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Twenty research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.00.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 167,019 shares of the firm’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $32.37, for a total transaction of $5,406,405.03. Following the completion of the sale, the insider now owns 12,183,697 shares in the company, valued at $394,386,271.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Foot Locker news, SVP Todd Greener sold 2,500 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $30.99, for a total transaction of $77,475.00. Following the completion of the transaction, the senior vice president now owns 8,421 shares in the company, valued at $260,966.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vesa Equity Investment S.A R.L sold 167,019 shares of the stock in a transaction dated Wednesday, October 12th. The stock was sold at an average price of $32.37, for a total transaction of $5,406,405.03. Following the transaction, the insider now owns 12,183,697 shares of the company’s stock, valued at approximately $394,386,271.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 557,380 shares of company stock worth $18,395,121. Insiders own 3.00% of the company’s stock.

About Foot Locker

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Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep brand names.

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Institutional Ownership by Quarter for Foot Locker (NYSE:FL)

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