Northpointe Capital LLC Invests $3.23 Million in Foot Locker, Inc. (FL)

Northpointe Capital LLC bought a new stake in Foot Locker, Inc. (NYSE:FL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 53,263 shares of the athletic footwear retailer’s stock, valued at approximately $3,228,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bremer Trust National Association bought a new position in Foot Locker during the 4th quarter worth $26,000. Lindbrook Capital LLC bought a new position in Foot Locker during the 4th quarter worth $38,000. Executive Wealth Management LLC bought a new position in Foot Locker during the 4th quarter worth $56,000. Financial Gravity Companies Inc. bought a new position in Foot Locker during the 4th quarter worth $74,000. Finally, Quantamental Technologies LLC bought a new position in Foot Locker during the 4th quarter worth $79,000. 97.88% of the stock is currently owned by institutional investors.

In related 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 transaction of $4,800,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

A number of brokerages recently commented on FL. Jefferies Financial Group set a $80.00 price objective on Foot Locker and gave the stock a “buy” rating in a research note on Friday, April 12th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Foot Locker in a research note on Thursday, April 11th. Citigroup downgraded Foot Locker from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $72.00 to $68.00 in a research note on Wednesday, April 10th. Wedbush reissued a “buy” rating and issued a $73.00 price target on shares of Foot Locker in a research note on Monday, April 1st. Finally, Credit Suisse Group increased their price target on Foot Locker from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, March 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Foot Locker has an average rating of “Buy” and an average target price of $65.85.

FL stock traded down $1.09 during trading hours on Wednesday, hitting $62.48. 364,299 shares of the stock traded hands, compared to its average volume of 2,727,467. Foot Locker, Inc. has a one year low of $40.02 and a one year high of $68.00. The stock has a market capitalization of $7.14 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.28 and a beta of 0.76. The company has a quick ratio of 1.63, a current ratio of 3.30 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last announced its earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.17. Foot Locker had a return on equity of 21.92% and a net margin of 6.81%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Foot Locker, Inc. will post 5.2 earnings per share for the current year.

Foot Locker declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 20th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the athletic footwear retailer to reacquire up to 17.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Thursday, April 18th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, April 17th. This represents a $1.52 annualized dividend and a yield of 2.43%. This is a boost from Foot Locker’s previous quarterly dividend of $0.35. Foot Locker’s dividend payout ratio (DPR) is currently 29.30%.

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

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