Texas Permanent School Fund Corp Purchases 17,819 Shares of Foot Locker, Inc. (NYSE:FL)

Posted by on Jul 28th, 2023

Texas Permanent School Fund Corp grew its position in shares of Foot Locker, Inc. (NYSE:FL – Free Report) by 33.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,136 shares of the athletic footwear retailer’s stock after buying an additional 17,819 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Foot Locker worth $2,823,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Belpointe Asset Management LLC bought a new position in Foot Locker in the fourth quarter valued at about $39,000. Advisors Asset Management Inc. lifted its stake in shares of Foot Locker by 68.3% in the first quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock worth $40,000 after acquiring an additional 542 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Foot Locker by 659.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,600 shares of the athletic footwear retailer’s stock worth $107,000 after acquiring an additional 3,126 shares during the period. Covestor Ltd lifted its stake in shares of Foot Locker by 184.8% in the first quarter. Covestor Ltd now owns 3,976 shares of the athletic footwear retailer’s stock worth $118,000 after acquiring an additional 2,580 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Foot Locker in the first quarter worth approximately $160,000. Institutional investors own 99.05% of the company’s stock.

Foot Locker Stock Performance

Shares of NYSE FL opened at $25.34 on Friday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 9.82 and a beta of 1.23. Foot Locker, Inc. has a 12-month low of $24.44 and a 12-month high of $47.22. The firm has a 50 day moving average of $26.90 and a 200 day moving average of $36.39. The company has a current ratio of 1.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.14.

Foot Locker (NYSE:FL – Get Free Report) last posted its quarterly earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.99 billion. Foot Locker had a return on equity of 11.77% and a net margin of 2.88%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 earnings per share. On average, research analysts anticipate that Foot Locker, Inc. will post 2.09 earnings per share for the current year.

Foot Locker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Thursday, July 13th. Foot Locker’s dividend payout ratio (DPR) is presently 62.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Evercore ISI cut their price objective on Foot Locker from $60.00 to $45.00 in a research note on Monday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on Foot Locker from $42.00 to $28.00 in a research note on Monday, May 22nd. Robert W. Baird dropped their price target on Foot Locker from $32.00 to $25.00 in a research note on Wednesday, July 12th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. Finally, Barclays decreased their price objective on Foot Locker from $42.00 to $31.00 in a report on Sunday, May 21st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Foot Locker presently has an average rating of “Hold” and an average price target of $38.45.

Foot Locker Profile

(Free Report)

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a youth culture brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.

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

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