Northpointe Capital LLC purchased a new position in shares of Foot Locker, Inc. (NYSE:FL) in the first quarter, HoldingsChannel.com reports. The firm purchased 53,263 shares of the athletic footwear retailer’s stock, valued at approximately $3,228,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bremer Trust National Association acquired a new position in shares of Foot Locker during the 4th quarter valued at about $26,000. Lindbrook Capital LLC acquired a new position in shares of Foot Locker during the 4th quarter valued at about $38,000. Executive Wealth Management LLC acquired a new position in shares of Foot Locker during the 4th quarter valued at about $56,000. Financial Gravity Companies Inc. acquired a new position in shares of Foot Locker during the 4th quarter valued at about $74,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Foot Locker during the 4th quarter valued at about $79,000. 97.88% of the stock is owned by institutional investors.
Foot Locker stock traded down $1.09 during trading hours on Wednesday, reaching $62.48. 364,299 shares of the company’s stock were exchanged, compared to its average volume of 2,727,467. The company has a current ratio of 3.30, a quick ratio of 1.63 and a debt-to-equity ratio of 0.05. Foot Locker, Inc. has a twelve month low of $40.02 and a twelve month high of $68.00. The company has a market cap of $7.14 billion, a P/E ratio of 13.27, a PEG ratio of 1.28 and a beta of 0.76.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Thursday, April 18th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, April 17th. This is an increase from Foot Locker’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 2.43%. Foot Locker’s dividend payout ratio (DPR) is currently 29.30%.
Foot Locker announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 20th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the athletic footwear retailer to repurchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently commented on FL shares. Guggenheim reissued a “buy” rating and set a $66.00 price objective on shares of Foot Locker in a report on Thursday, February 21st. Jefferies Financial Group set a $62.00 target price on Foot Locker and gave the company a “buy” rating in a report on Friday, December 21st. Zacks Investment Research raised Foot Locker from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, December 19th. Canaccord Genuity set a $64.00 target price on Foot Locker and gave the company a “buy” rating in a report on Tuesday, February 26th. Finally, ValuEngine raised Foot Locker from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $65.85.
In other news, CEO Richard A. Johnson sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $60.01, for a total value of $4,800,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.
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About Foot Locker
Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.
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