Foot Locker (FL) to Release Quarterly Earnings on Monday

Posted by Jared Coughlin on Mar 19th, 2023

Foot Locker (NYSE:FL – Get Rating) will issue its quarterly earnings data before the market opens on Monday, March 20th. Analysts expect the company to announce earnings of $0.51 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Foot Locker Trading Down 1.0 %

FL opened at $42.26 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 9.63 and a beta of 1.25. The firm’s 50 day moving average is $42.54 and its 200-day moving average is $37.69. Foot Locker has a 52-week low of $23.85 and a 52-week high of $47.22. The company has a quick ratio of 0.43, a current ratio of 1.54 and a debt-to-equity ratio of 0.14.

Foot Locker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Thursday, April 13th. Foot Locker’s payout ratio is currently 36.45%.

Analysts Set New Price Targets

A number of research firms have commented on FL. Barclays lifted their price objective on shares of Foot Locker from $38.00 to $40.00 in a report on Monday, November 21st. Morgan Stanley decreased their price objective on shares of Foot Locker from $36.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Foot Locker in a report on Tuesday, March 14th. Credit Suisse Group raised shares of Foot Locker from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $38.00 to $62.00 in a report on Wednesday, February 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Foot Locker from $31.00 to $36.00 in a report on Monday, November 21st. Seventeen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Foot Locker currently has a consensus rating of “Hold” and a consensus price target of $41.32.

Insiders Place Their Bets

In other Foot Locker news, VP John A. Maurer sold 3,500 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $42.01, for a total transaction of $147,035.00. Following the sale, the vice president now owns 23,221 shares in the company, valued at approximately $975,514.21. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Foot Locker news, VP John A. Maurer sold 3,500 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $42.01, for a total transaction of $147,035.00. Following the sale, the vice president now owns 23,221 shares in the company, valued at approximately $975,514.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Todd Greener sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $37.63, for a total value of $94,075.00. Following the sale, the senior vice president now owns 5,921 shares in the company, valued at approximately $222,807.23. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Foot Locker

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Foot Locker by 5.0% during the 1st quarter. BlackRock Inc. now owns 8,129,401 shares of the athletic footwear retailer’s stock valued at $241,118,000 after acquiring an additional 386,775 shares in the last quarter. State Street Corp grew its stake in shares of Foot Locker by 9.4% in the 2nd quarter. State Street Corp now owns 2,895,754 shares of the athletic footwear retailer’s stock valued at $73,118,000 after buying an additional 248,611 shares in the last quarter. Morgan Stanley grew its stake in shares of Foot Locker by 2.3% in the 4th quarter. Morgan Stanley now owns 1,667,471 shares of the athletic footwear retailer’s stock valued at $63,014,000 after buying an additional 37,936 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Foot Locker by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,474,528 shares of the athletic footwear retailer’s stock valued at $55,722,000 after buying an additional 37,048 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Foot Locker by 56.5% in the 2nd quarter. Northern Trust Corp now owns 1,103,775 shares of the athletic footwear retailer’s stock valued at $27,871,000 after buying an additional 398,312 shares in the last quarter. Hedge funds and other institutional investors own 95.06% of the company’s stock.

Foot Locker Company Profile

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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.