Citigroup Raises Foot Locker (FL) Price Target to $63.00

Foot Locker (NYSE:FL) had its price objective boosted by Citigroup from $60.00 to $63.00 in a research note released on Wednesday morning. Citigroup currently has a buy rating on the athletic footwear retailer’s stock.

A number of other analysts have also recently issued reports on FL. Zacks Investment Research reissued a buy rating and issued a $52.00 price objective on shares of Foot Locker in a research note on Tuesday, November 13th. Canaccord Genuity set a $64.00 price objective on shares of Foot Locker and gave the stock a buy rating in a research note on Wednesday. B. Riley set a $51.00 price objective on shares of Foot Locker and gave the stock a neutral rating in a research note on Wednesday. Telsey Advisory Group reduced their price objective on shares of Foot Locker from $62.00 to $58.00 and set an outperform rating for the company in a research note on Monday, August 27th. Finally, Pivotal Research set a $64.00 price objective on shares of Foot Locker and gave the stock a buy rating in a research note on Monday, August 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Foot Locker presently has a consensus rating of Buy and an average price target of $58.91.

FL opened at $52.96 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 3.42. Foot Locker has a 1-year low of $38.17 and a 1-year high of $59.40. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.84 and a beta of 0.84.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 18th will be paid a dividend of $0.345 per share. The ex-dividend date is Thursday, January 17th. This represents a $1.38 annualized dividend and a yield of 2.61%. Foot Locker’s payout ratio is 33.58%.

In related news, Director Matthew M. Mckenna sold 7,000 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $50.81, for a total transaction of $355,670.00. Following the completion of the transaction, the director now directly owns 30,459 shares of the company’s stock, valued at $1,547,621.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CX Institutional grew its stake in shares of Foot Locker by 4.4% in the 3rd quarter. CX Institutional now owns 28,267 shares of the athletic footwear retailer’s stock worth $1,441,000 after buying an additional 1,195 shares in the last quarter. Zacks Investment Management grew its stake in shares of Foot Locker by 5.4% in the 2nd quarter. Zacks Investment Management now owns 28,220 shares of the athletic footwear retailer’s stock worth $1,486,000 after buying an additional 1,440 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Foot Locker by 2.0% in the 3rd quarter. Toronto Dominion Bank now owns 74,608 shares of the athletic footwear retailer’s stock worth $3,803,000 after buying an additional 1,459 shares in the last quarter. NewFocus Financial Group LLC grew its stake in shares of Foot Locker by 4.6% in the 2nd quarter. NewFocus Financial Group LLC now owns 34,755 shares of the athletic footwear retailer’s stock worth $1,830,000 after buying an additional 1,516 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Foot Locker by 61.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock worth $220,000 after buying an additional 1,592 shares in the last quarter.

Foot Locker Company Profile

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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