Foot Locker, Inc. Plans Quarterly Dividend of $0.38 (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) declared a quarterly dividend on Tuesday, August 20th, Zacks reports. Shareholders of record on Friday, October 18th will be given a dividend of 0.38 per share by the athletic footwear retailer on Friday, November 1st. This represents a $1.52 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, October 17th.

Foot Locker has increased its dividend by an average of 11.5% annually over the last three years and has raised its dividend every year for the last 8 years. Foot Locker has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Foot Locker to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 28.1%.

FL opened at $40.45 on Thursday. The business’s 50-day moving average is $40.98 and its two-hundred day moving average is $51.18. Foot Locker has a 1 year low of $36.81 and a 1 year high of $68.00. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.01 and a quick ratio of 1.07. The firm has a market capitalization of $4.34 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 0.80 and a beta of 0.98.

Foot Locker (NYSE:FL) last posted its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.08). Foot Locker had a net margin of 6.86% and a return on equity of 21.75%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm earned $1.45 EPS. Foot Locker’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Foot Locker will post 5 EPS for the current year.

In other Foot Locker news, Director Matthew M. Mckenna sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $40.53, for a total value of $283,710.00. Following the completion of the sale, the director now owns 26,862 shares of the company’s stock, valued at $1,088,716.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Several equities analysts have issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $60.00 target price on shares of Foot Locker in a research note on Friday, May 24th. Deutsche Bank cut their target price on Foot Locker from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday. TheStreet lowered Foot Locker from a “b-” rating to a “c+” rating in a research note on Monday, June 17th. Pivotal Research reiterated a “buy” rating and issued a $53.00 target price on shares of Foot Locker in a research note on Tuesday. Finally, Morgan Stanley upgraded Foot Locker from an “underweight” rating to an “equal weight” rating and set a $40.00 target price on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $66.44.

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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Dividend History for Foot Locker (NYSE:FL)

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