PNC Financial Services Group Inc. Trims Holdings in Foot Locker, Inc. (NYSE:FL)

PNC Financial Services Group Inc. cut its holdings in Foot Locker, Inc. (NYSE:FL) by 28.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,048 shares of the athletic footwear retailer’s stock after selling 7,959 shares during the […]

PNC Financial Services Group Inc. cut its holdings in Foot Locker, Inc. (NYSE:FL) by 28.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,048 shares of the athletic footwear retailer’s stock after selling 7,959 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Foot Locker were worth $584,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new stake in Foot Locker during the 2nd quarter valued at about $704,000. Handelsbanken Fonder AB purchased a new stake in Foot Locker during the 2nd quarter valued at about $592,000. Nuveen Asset Management LLC grew its position in Foot Locker by 4.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 256,888 shares of the athletic footwear retailer’s stock valued at $7,492,000 after purchasing an additional 11,325 shares during the last quarter. Stephens Inc. AR grew its position in Foot Locker by 7.7% during the 2nd quarter. Stephens Inc. AR now owns 13,272 shares of the athletic footwear retailer’s stock valued at $387,000 after purchasing an additional 952 shares during the last quarter. Finally, Engine Capital Management LP purchased a new stake in Foot Locker during the 2nd quarter valued at about $2,886,000. 83.78% of the stock is currently owned by hedge funds and other institutional investors.

Foot Locker stock opened at $32.39 on Tuesday. The stock has a market cap of $3.38 billion, a P/E ratio of 16.20, a PEG ratio of 2.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.69 and a quick ratio of 0.98. Foot Locker, Inc. has a 1 year low of $17.46 and a 1 year high of $47.86. The firm’s 50 day moving average price is $31.54 and its 200-day moving average price is $27.69.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 21st. The athletic footwear retailer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Foot Locker had a net margin of 2.88% and a return on equity of 12.40%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. As a group, equities analysts expect that Foot Locker, Inc. will post 1.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.85%.

A number of brokerages have recently issued reports on FL. B. Riley downgraded shares of Foot Locker from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Monday, June 22nd. Morgan Stanley raised their price target on shares of Foot Locker from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $35.00 price target on shares of Foot Locker in a report on Monday, August 10th. Goldman Sachs Group began coverage on shares of Foot Locker in a report on Tuesday, September 8th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Citigroup raised their price target on shares of Foot Locker from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.53.

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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