Formidable Asset Management LLC Has $265,000 Holdings in Foot Locker, Inc. (NYSE:FL)

Formidable Asset Management LLC decreased its position in Foot Locker, Inc. (NYSE:FL) by 8.4% during the 3rd quarter, Holdings reports. The firm owned 5,806 shares of the athletic footwear retailer’s stock after selling 532 shares during the period. Formidable Asset Management LLC’s holdings in Foot Locker were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Foot Locker during the second quarter worth approximately $42,000. IFP Advisors Inc lifted its stake in Foot Locker by 728.2% during the third quarter. IFP Advisors Inc now owns 2,170 shares of the athletic footwear retailer’s stock worth $106,000 after purchasing an additional 1,908 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Foot Locker in the 2nd quarter valued at $174,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Foot Locker in the 3rd quarter valued at $142,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of Foot Locker in the 2nd quarter valued at $210,000. 94.44% of the stock is currently owned by institutional investors.

In related news, Director Matthew M. Mckenna sold 10,214 shares of Foot Locker stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $52.97, for a total value of $541,035.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

FL has been the subject of several analyst reports. Telsey Advisory Group lowered their target price on Foot Locker from $67.00 to $64.00 and set a “market perform” rating for the company in a research report on Tuesday, November 16th. Berenberg Bank restated a “buy” rating and issued a $72.00 target price on shares of Foot Locker in a research note on Wednesday, December 1st. JPMorgan Chase & Co. cut shares of Foot Locker from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $60.00 to $42.00 in a research report on Tuesday, January 4th. Bank of America initiated coverage on shares of Foot Locker in a research report on Thursday, September 30th. They issued an “underperform” rating and a $45.00 price target on the stock. Finally, Robert W. Baird dropped their price target on shares of Foot Locker from $66.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, November 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Foot Locker currently has a consensus rating of “Buy” and an average price target of $63.85.

NYSE:FL opened at $43.38 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.35 billion, a PE ratio of 4.98, a price-to-earnings-growth ratio of 0.18 and a beta of 1.40. The firm’s 50 day moving average is $46.22 and its 200 day moving average is $51.10. Foot Locker, Inc. has a 12 month low of $39.76 and a 12 month high of $66.71.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, November 19th. The athletic footwear retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.56. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Foot Locker had a net margin of 10.37% and a return on equity of 25.89%. Foot Locker’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Research analysts predict that Foot Locker, Inc. will post 7.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. Foot Locker’s dividend payout ratio (DPR) is presently 13.78%.

About Foot Locker

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

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