Foot Locker (NYSE:FL) Given New $50.00 Price Target at Guggenheim

Posted by John. R. Edwardson on May 26th, 2023

Foot Locker (NYSE:FL – Get Rating) had its price target reduced by Guggenheim from $60.00 to $50.00 in a report published on Monday, The Fly reports.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Foot Locker from $36.00 to $42.00 and gave the company a hold rating in a research note on Tuesday, March 21st. Bank of America cut their price objective on Foot Locker from $45.00 to $36.00 in a research note on Sunday, May 21st. Williams Trading downgraded Foot Locker from a hold rating to a sell rating in a research report on Sunday, May 21st. Evercore ISI dropped their price target on Foot Locker from $60.00 to $45.00 in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Foot Locker from $48.00 to $38.00 in a research note on Sunday, May 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $38.80.

Foot Locker Price Performance

Shares of NYSE FL opened at $25.82 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.62 and a quick ratio of 0.46. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 10.01 and a beta of 1.23. The firm’s 50 day simple moving average is $39.14 and its 200-day simple moving average is $39.39. Foot Locker has a 12 month low of $23.85 and a 12 month high of $47.22.

Foot Locker (NYSE:FL – Get Rating) last posted its earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). Foot Locker had a return on equity of 11.77% and a net margin of 2.88%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. Analysts expect that Foot Locker will post 2.1 EPS for the current year.

Foot Locker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Thursday, July 13th. Foot Locker’s dividend payout ratio (DPR) is 62.02%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Bridge Advisors purchased a new stake in Foot Locker during the 4th quarter worth approximately $227,000. Toronto Dominion Bank acquired a new position in shares of Foot Locker in the third quarter worth $4,113,000. Autumn Glory Partners LLC purchased a new stake in shares of Foot Locker during the fourth quarter worth $441,000. Monarch Partners Asset Management LLC acquired a new stake in shares of Foot Locker in the fourth quarter valued at $1,547,000. Finally, Citigroup Inc. raised its stake in shares of Foot Locker by 6.0% in the fourth quarter. Citigroup Inc. now owns 160,800 shares of the athletic footwear retailer’s stock valued at $6,077,000 after acquiring an additional 9,150 shares in the last quarter. 95.06% of the stock is currently owned by institutional investors and hedge funds.

Foot Locker Company Profile

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Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.