Foot Locker (FL) Shares Gap Down to $56.32

Foot Locker, Inc. (NYSE:FL) shares gapped down before the market opened on Thursday . The stock had previously closed at $57.85, but opened at $56.32. Foot Locker shares last traded at $55.72, with a volume of 2265196 shares changing hands.

A number of brokerages have issued reports on FL. Robert W. Baird raised shares of Foot Locker from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Zacks Investment Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Wednesday, November 28th. Citigroup upped their target price on shares of Foot Locker from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Credit Suisse Group upped their target price on shares of Foot Locker from $56.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 21st. Finally, Morgan Stanley set a $44.00 target price on shares of Foot Locker and gave the stock a “sell” rating in a research report on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Foot Locker presently has a consensus rating of “Buy” and an average price target of $59.05.

The company has a market capitalization of $6.36 billion, a PE ratio of 13.75, a PEG ratio of 1.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.42.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Foot Locker had a net margin of 4.24% and a return on equity of 21.01%. Foot Locker’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 EPS. On average, equities analysts expect that Foot Locker, Inc. will post 4.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 18th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, January 17th. Foot Locker’s payout ratio is 33.58%.

In related news, Director Matthew M. Mckenna sold 7,000 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $50.81, for a total value of $355,670.00. Following the transaction, the director now owns 30,459 shares in the company, valued at approximately $1,547,621.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John A. Maurer sold 2,041 shares of the company’s stock in a transaction dated Saturday, December 28th. The stock was sold at an average price of $52.00, for a total transaction of $106,132.00. Following the completion of the transaction, the vice president now owns 18,540 shares in the company, valued at approximately $964,080. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,082 shares of company stock worth $832,934. 2.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 acquiring an additional 85,314 shares during the period. Vanguard Group Inc lifted 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 acquiring an additional 85,314 shares during the period. BlackRock Inc. lifted its stake 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 valued at $351,793,000 after acquiring an additional 18,239 shares during the period. AQR Capital Management LLC lifted its stake 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 valued at $290,289,000 after acquiring an additional 3,329,150 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake 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 valued at $267,569,000 after acquiring an additional 144,290 shares during the period. Institutional investors and hedge funds own 97.78% of the company’s stock.

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About Foot Locker (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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