Deutsche Bank AG reissued their buy rating on shares of Foot Locker, Inc. (NYSE:FL) in a research note released on Sunday, April 23rd. They currently have a $88.00 target price on the textile maker’s stock, down from their previous target price of $89.00.
A number of other research firms have also recently commented on FL. Zacks Investment Research upgraded Foot Locker from a hold rating to a buy rating and set a $85.00 price objective for the company in a research report on Wednesday, March 1st. Piper Jaffray Companies set a $76.00 price objective on Foot Locker and gave the stock a hold rating in a research report on Monday, March 20th. Canaccord Genuity raised their price target on Foot Locker from $83.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, February 22nd. B. Riley reissued a buy rating and issued a $79.00 price target on shares of Foot Locker in a research note on Tuesday, February 21st. Finally, Jefferies Group LLC set a $90.00 price target on Foot Locker and gave the stock a buy rating in a research note on Monday, March 27th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $77.11.
Shares of Foot Locker (NYSE:FL) traded up 2.64% on Friday, hitting $60.27. 7,048,711 shares of the stock traded hands. The company has a market cap of $7.99 billion, a PE ratio of 12.37 and a beta of 0.57. Foot Locker has a 12 month low of $50.90 and a 12 month high of $79.43. The firm’s 50 day moving average is $74.01 and its 200-day moving average is $72.76.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, May 19th. The textile maker reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by $0.02. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.39 EPS. Equities analysts predict that Foot Locker will post $5.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.06%. Foot Locker’s dividend payout ratio (DPR) is 23.71%.
In related news, CFO Lauren B. Peters sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $77.51, for a total transaction of $1,937,750.00. Following the completion of the transaction, the chief financial officer now owns 144,597 shares in the company, valued at approximately $11,207,713.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl N. Turpin sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $76.17, for a total value of $152,340.00. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock valued at $2,686,090 over the last quarter. Company insiders own 2.92% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FL. YorkBridge Wealth Partners LLC raised its position in Foot Locker by 18.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,360 shares of the textile maker’s stock worth $104,000 after buying an additional 213 shares in the last quarter. Acrospire Investment Management LLC raised its position in Foot Locker by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 1,500 shares of the textile maker’s stock worth $112,000 after buying an additional 500 shares in the last quarter. Van ECK Associates Corp raised its position in Foot Locker by 7.3% in the fourth quarter. Van ECK Associates Corp now owns 1,938 shares of the textile maker’s stock worth $137,000 after buying an additional 132 shares in the last quarter. Pacer Advisors Inc. raised its position in Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the textile maker’s stock worth $197,000 after buying an additional 88 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new position in Foot Locker during the first quarter worth about $204,000. Institutional investors and hedge funds own 95.30% of the company’s stock.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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