Foot Locker, Inc. (NYSE:FL)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research note issued on Friday. They presently have a $88.00 target price on the textile maker’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 14.96% from the stock’s current price.
FL has been the topic of several other research reports. Canaccord Genuity reiterated a “buy” rating and set a $83.00 price objective on shares of Foot Locker in a research report on Monday, January 23rd. Zacks Investment Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Monday, January 16th. Vetr upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $77.33 price objective on the stock in a research report on Thursday, December 22nd. Guggenheim upgraded shares of Foot Locker from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Thursday, February 2nd. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $81.00 price objective (up previously from $76.00) on shares of Foot Locker in a research report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Foot Locker presently has an average rating of “Buy” and an average target price of $80.91.
Foot Locker (NYSE:FL) opened at 76.55 on Friday. The stock’s 50 day moving average is $74.26 and its 200 day moving average is $71.75. Foot Locker has a 1-year low of $50.90 and a 1-year high of $79.43. The company has a market cap of $10.05 billion, a P/E ratio of 15.59 and a beta of 0.57.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, February 24th. The textile maker reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. Equities analysts anticipate that Foot Locker will post $5.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.62%. This is a positive change from Foot Locker’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, April 11th. Foot Locker’s payout ratio is presently 23.71%.
In other Foot Locker news, CFO Lauren B. Peters sold 25,000 shares of Foot Locker stock in a transaction on Wednesday, March 8th. The shares were 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 directly owns 144,597 shares of the company’s stock, valued at $11,207,713.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl N. Turpin sold 2,000 shares of Foot Locker stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $76.17, for a total transaction of $152,340.00. The disclosure for this sale can be found here. 2.92% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FL. State of Alaska Department of Revenue raised its position in Foot Locker by 49.0% in the first quarter. State of Alaska Department of Revenue now owns 28,150 shares of the textile maker’s stock valued at $2,105,000 after buying an additional 9,258 shares during the last quarter. City Holding Co. increased its stake in Foot Locker by 4.6% in the first quarter. City Holding Co. now owns 22,815 shares of the textile maker’s stock valued at $1,707,000 after buying an additional 995 shares during the period. Quantitative Systematic Strategies LLC increased its stake in Foot Locker by 341.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 33,287 shares of the textile maker’s stock valued at $2,490,000 after buying an additional 25,748 shares during the period. Nisa Investment Advisors LLC increased its stake in Foot Locker by 17.4% in the first quarter. Nisa Investment Advisors LLC now owns 59,911 shares of the textile maker’s stock valued at $4,482,000 after buying an additional 8,861 shares during the period. Finally, Bank of The West increased its stake in Foot Locker by 5.4% in the first quarter. Bank of The West now owns 59,312 shares of the textile maker’s stock valued at $4,437,000 after buying an additional 3,034 shares during the period. 95.30% of the stock is owned by institutional investors.
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’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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