Telsey Advisory Group Boosts Foot Locker (FL) Price Target to $62.00

Foot Locker (NYSE:FL) had its target price boosted by Telsey Advisory Group from $49.00 to $62.00 in a research report sent to investors on Tuesday morning. The firm currently has an outperform rating on the athletic footwear retailer’s stock.

FL has been the subject of a number of other reports. Pivotal Research set a $57.00 target price on Foot Locker and gave the company a buy rating in a research report on Tuesday, February 27th. Jefferies Group increased their target price on Foot Locker to $65.00 and gave the company a buy rating in a research report on Friday, May 25th. Buckingham Research reiterated a buy rating and set a $54.00 target price on shares of Foot Locker in a research report on Wednesday, April 18th. ValuEngine downgraded Foot Locker from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Citigroup lowered their target price on Foot Locker from $54.00 to $46.00 and set a buy rating for the company in a research report on Monday, March 5th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Foot Locker currently has a consensus rating of Hold and an average price target of $55.99.

NYSE FL opened at $53.97 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 3.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $6.61 billion, a PE ratio of 13.13, a PEG ratio of 2.05 and a beta of 0.86. Foot Locker has a one year low of $28.42 and a one year high of $60.64.

Foot Locker (NYSE:FL) last posted its earnings results on Friday, May 25th. The athletic footwear retailer reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.96 billion. Foot Locker had a return on equity of 19.60% and a net margin of 3.45%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. sell-side analysts expect that Foot Locker will post 4.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 3rd. Stockholders of record on Friday, July 20th will be given a dividend of $0.345 per share. The ex-dividend date is Thursday, July 19th. This represents a $1.38 annualized dividend and a dividend yield of 2.56%. Foot Locker’s dividend payout ratio (DPR) is 33.58%.

In other news, CFO Lauren B. Peters sold 25,000 shares of Foot Locker stock in a transaction on Friday, May 25th. The stock was sold at an average price of $51.85, for a total transaction of $1,296,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jarobin Gilbert, Jr. sold 1,500 shares of Foot Locker stock in a transaction on Monday, March 12th. The stock was sold at an average price of $43.44, for a total value of $65,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,543 shares of company stock valued at $1,833,057. Corporate insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in shares of Foot Locker by 849.9% during the fourth quarter. American International Group Inc. now owns 371,870 shares of the athletic footwear retailer’s stock worth $17,433,000 after purchasing an additional 332,722 shares during the last quarter. Aperio Group LLC increased its stake in shares of Foot Locker by 21.0% during the fourth quarter. Aperio Group LLC now owns 138,898 shares of the athletic footwear retailer’s stock valued at $6,512,000 after buying an additional 24,079 shares during the period. California Public Employees Retirement System increased its stake in shares of Foot Locker by 35.2% during the fourth quarter. California Public Employees Retirement System now owns 486,091 shares of the athletic footwear retailer’s stock valued at $22,788,000 after buying an additional 126,683 shares during the period. Zeke Capital Advisors LLC purchased a new position in shares of Foot Locker during the fourth quarter valued at $610,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Foot Locker by 3.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 677,721 shares of the athletic footwear retailer’s stock valued at $31,772,000 after buying an additional 25,617 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.

Analyst Recommendations for Foot Locker (NYSE:FL)

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