Today, Jennison Associates LLC Takes Position in Foot Locker Inc. (FL)

Today, Jennison Associates LLC Takes Position in Foot Locker Inc. (FL)

Jennison Associates LLC bought a new position in Foot Locker Inc. (NYSE:FL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 118,462 shares of the company’s stock, valued at approximately $8,022,000. Jennison Associates LLC owned 0.09% of Foot Locker as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FL. Global X Management Co. LLC increased its stake in shares of Foot Locker by 310.6% in the second quarter. Global X Management Co. LLC now owns 1,823 shares of the company’s stock valued at $100,000 after buying an additional 1,379 shares during the last quarter. Euclid Advisors LLC bought a new stake in shares of Foot Locker during the second quarter valued at $127,000. Huntington National Bank increased its stake in shares of Foot Locker by 187.3% in the second quarter. Huntington National Bank now owns 2,396 shares of the company’s stock valued at $131,000 after buying an additional 1,562 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Foot Locker by 10.2% in the second quarter. Pacer Advisors Inc. now owns 2,574 shares of the company’s stock valued at $141,000 after buying an additional 239 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Foot Locker by 27.3% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,800 shares of the company’s stock valued at $154,000 after buying an additional 600 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Foot Locker Inc. (NYSE:FL) traded up 1.17% on Thursday, reaching $74.19. The company’s stock had a trading volume of 1,693,668 shares. The firm’s 50 day moving average price is $68.94 and its 200-day moving average price is $62.26. Foot Locker Inc. has a 1-year low of $50.90 and a 1-year high of $74.71. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 16.02 and a beta of 0.59.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, November 18th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The business had revenue of $1.89 billion for the quarter. During the same quarter in the prior year, the business posted $1.00 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Foot Locker Inc. will post $4.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 13th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.48%. Foot Locker’s dividend payout ratio is presently 23.71%.

Several brokerages have weighed in on FL. B. Riley boosted their price objective on Foot Locker from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Piper Jaffray Cos. set a $67.00 price objective on Foot Locker and gave the company a “buy” rating in a research report on Thursday, August 18th. Canaccord Genuity set a $79.00 price objective on Foot Locker and gave the company a “buy” rating in a research report on Saturday, November 12th. Zacks Investment Research cut Foot Locker from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. Finally, Citigroup Inc. boosted their target price on Foot Locker from $68.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.32.

In related news, CEO Lewis Phillip Kimble sold 43,479 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $65.40, for a total transaction of $2,843,526.60. Following the transaction, the chief executive officer now directly owns 26,131 shares in the company, valued at approximately $1,708,967.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nicholas P. Dipaolo sold 5,424 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $68.75, for a total value of $372,900.00. Following the transaction, the director now owns 68,128 shares in the company, valued at $4,683,800. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

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