Foot Locker (FL) Shares Gap Up to $52.96

Foot Locker, Inc. (NYSE:FL) shares gapped up before the market opened on Friday . The stock had previously closed at $53.08, but opened at $52.96. Foot Locker shares last traded at $52.98, with a volume of 98638 shares.

A number of research firms have commented on FL. TheStreet raised Foot Locker from a “c” rating to a “b-” rating in a report on Tuesday. Cowen set a $56.00 target price on Foot Locker and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley set a $44.00 target price on Foot Locker and gave the stock a “sell” rating in a report on Wednesday. Citigroup increased their target price on Foot Locker from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Credit Suisse Group increased their target price on Foot Locker from $56.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $58.91.

The firm has a market capitalization of $6.08 billion, a P/E ratio of 12.89, a PEG ratio of 1.84 and a beta of 0.84. The company has a quick ratio of 1.76, a current ratio of 3.42 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Tuesday, November 20th. The athletic footwear retailer reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. Foot Locker had a return on equity of 21.01% and a net margin of 4.24%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. On average, analysts forecast that Foot Locker, Inc. will post 4.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 18th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.61%. Foot Locker’s dividend payout ratio (DPR) is 33.58%.

In other news, Director Matthew M. Mckenna sold 7,000 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $50.81, for a total value of $355,670.00. Following the completion of the sale, the director now owns 30,459 shares in the company, valued at $1,547,621.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Foot Locker by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,178,329 shares of the athletic footwear retailer’s stock valued at $620,851,000 after purchasing an additional 85,314 shares in the last quarter. BlackRock Inc. lifted its holdings in Foot Locker by 0.3% during the 3rd quarter. BlackRock Inc. now owns 6,900,629 shares of the athletic footwear retailer’s stock worth $351,793,000 after buying an additional 18,239 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Foot Locker by 140.8% during the 3rd quarter. AQR Capital Management LLC now owns 5,694,180 shares of the athletic footwear retailer’s stock worth $290,289,000 after buying an additional 3,329,150 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Foot Locker by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,248,477 shares of the athletic footwear retailer’s stock worth $267,569,000 after buying an additional 144,290 shares during the last quarter. Finally, Investec Asset Management LTD lifted its holdings in Foot Locker by 2.1% during the 2nd quarter. Investec Asset Management LTD now owns 3,287,156 shares of the athletic footwear retailer’s stock worth $173,069,000 after buying an additional 67,060 shares during the last quarter.

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Foot Locker Company Profile (NYSE:FL)

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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