State Board of Administration of Florida Retirement System Decreases Stock Position in Foot Locker, Inc. (NYSE:FL)

Defense World · Feb 12, 2023 20:52

State Board of Administration of Florida Retirement System reduced its position in Foot Locker, Inc. (NYSE:FL – Get Rating) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,460 shares of the athletic footwear retailer's stock after selling 4,710 shares during the period. State Board of Administration of Florida Retirement System's holdings in Foot Locker were worth $793,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Foot Locker by 5.0% in the 1st quarter. BlackRock Inc. now owns 8,129,401 shares of the athletic footwear retailer's stock worth $241,118,000 after purchasing an additional 386,775 shares during the period. LSV Asset Management grew its position in Foot Locker by 1.6% in the 3rd quarter. LSV Asset Management now owns 4,492,965 shares of the athletic footwear retailer's stock worth $139,866,000 after purchasing an additional 70,700 shares during the period. State Street Corp grew its position in Foot Locker by 9.4% in the 2nd quarter. State Street Corp now owns 2,895,754 shares of the athletic footwear retailer's stock worth $73,118,000 after purchasing an additional 248,611 shares during the period. Northern Trust Corp grew its position in Foot Locker by 56.5% in the 2nd quarter. Northern Trust Corp now owns 1,103,775 shares of the athletic footwear retailer's stock worth $27,871,000 after purchasing an additional 398,312 shares during the period. Finally, AQR Capital Management LLC grew its position in Foot Locker by 35.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,042,887 shares of the athletic footwear retailer's stock worth $26,333,000 after purchasing an additional 270,263 shares during the period. 95.06% of the stock is currently owned by hedge funds and other institutional investors.

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Foot Locker Stock Up 0.5 %

Shares of FL stock opened at $44.82 on Friday. The stock has a market cap of $4.18 billion, a P/E ratio of 10.21 and a beta of 1.26. Foot Locker, Inc. has a 52 week low of $23.85 and a 52 week high of $47.22. The company has a quick ratio of 0.43, a current ratio of 1.54 and a debt-to-equity ratio of 0.14. The company's fifty day simple moving average is $39.32 and its two-hundred day simple moving average is $35.73.

Foot Locker (NYSE:FL – Get Rating) last announced its quarterly earnings results on Friday, November 18th. The athletic footwear retailer reported $1.27 EPS for the quarter, topping the consensus estimate of $1.09 by $0.18. The business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.12 billion. Foot Locker had a net margin of 4.87% and a return on equity of 16.98%. Analysts predict that Foot Locker, Inc. will post 4.49 EPS for the current fiscal year.

Foot Locker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Friday, January 13th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.57%. The ex-dividend date was Thursday, January 12th. Foot Locker's payout ratio is currently 36.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TheStreet raised shares of Foot Locker from a "c" rating to a "b-" rating in a research report on Monday, November 21st. Morgan Stanley cut their price objective on shares of Foot Locker from $36.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Foot Locker from $40.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, January 26th. BTIG Research started coverage on shares of Foot Locker in a research report on Monday, February 6th. They set a "buy" rating and a $55.00 price objective for the company. Finally, Cowen boosted their price objective on shares of Foot Locker from $35.00 to $39.00 in a research report on Monday, November 21st. Nineteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $40.78.

Insiders Place Their Bets

In other news, VP John A. Maurer sold 3,500 shares of the company's stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $42.01, for a total transaction of $147,035.00. Following the sale, the vice president now directly owns 23,221 shares in the company, valued at approximately $975,514.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP John A. Maurer sold 3,500 shares of the company's stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $42.01, for a total transaction of $147,035.00. Following the sale, the vice president now directly owns 23,221 shares in the company, valued at approximately $975,514.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Todd Greener sold 2,500 shares of the company's stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $37.63, for a total transaction of $94,075.00. Following the sale, the senior vice president now owns 5,921 shares in the company, valued at $222,807.23. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

About Foot Locker

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Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.

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