Baird Cuts Rating On Foot Locker, Inc. (FL) To "Hold"

Marco Green
August 21, 2017

The institutional investor owned 370,910 shares of the athletic footwear retailer's stock after buying an additional 59,691 shares during the period.

COPYRIGHT VIOLATION WARNING: "Foot Locker, Inc". The value of the investment in Foot Locker, Inc. went from $1,425,000 to $967,000 a change of 32.1% since the last quarter. Morgan Stanley boosted its position in Foot Locker by 151.3% in the Q1. Oppenheimer Holdings, Inc. initiated coverage on shares of Foot Locker in a research report on Friday, July 7th. Acrospire Investment Management LLC now owns 1,500 shares of the athletic footwear retailer's stock valued at $112,000 after buying an additional 500 shares during the period. As of the end of the quarter Toronto Dominion Bank had bought a total of 22,461 shares growing its stake by 1,540.5%. Commerce Bank now owns 6,200 shares of the athletic footwear retailer's stock worth $464,000 after buying an additional 77 shares in the last quarter. The value of the total investment in Foot Locker, Inc. increased from $109,000 to $1,178,000 increasing 980.7% quarter over quarter. BlackRock boosted its position in Foot Locker by 2,189.3% in the Q1.

As of quarter end Winton Group Ltd had disposed of a total of 4,458 shares trimming its stake by 3.9%. Honkamp Krueger Financial Services Inc. now owns 14,090 shares of the athletic footwear retailer's stock valued at $694,000 after buying an additional 61 shares during the period. (FL) in the open market.

It is now trading at $34.38 much lower than $47.92, the stock's 50 day moving average and which is much lower than the 200 day moving average of $63.26.

Foot Locker has a 52 week low of $34.29 and a 52 week high of $79.43 with a P/E ratio of 7.95 The company's market cap is now $0.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by $0.28. Foot Locker had a return on equity of 23.87% and a net margin of 8.39%. Next quarter's EPS is forecasted to be $1.41 and the next full year EPS is anticipated to be $4.75. The business's revenue was down 4.4% on a year-over-year basis. On average, equities research analysts expect that Foot Locker will post $5.07 earnings per share for the current fiscal year. The ex-dividend date will be on Wednesday the 12th of July 2017. The dividend yield will be $3.61. Foot Locker's dividend payout ratio (DPR) is presently 28.57%. If you are reading this report on another website, it was stolen and reposted in violation of USA & worldwide copyright and trademark legislation.

These funds have also shifted positions in (FL).

A number of analysts have commented on the stock. Following the completion of the transaction, the director now owns 8,964 shares of the company's stock, valued at $532,461.60. On August 18 the company was rated "Hold" according to a Deutsche Bank report which was a cut from the previous "Buy" rating. The stock has a consensus rating of "Hold" and a consensus target price of $68.81.

In the transaction dated March 02, 2017, the great number of shares disposed came courtesy the Director; Turpin Cheryl N disposed a total of 2,000 shares at an average price of $76.17, amounting to approximately $152,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Overall, volume was up 1,329.21% over the stocks normal daily volume.

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