Foot Locker, Inc. (NYSE:FL)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Friday. They presently have a $88.00 price target on the textile maker’s stock. Jefferies Group LLC’s target price points to a potential upside of 15.15% from the company’s current price.
A number of other equities research analysts have also recently issued reports on FL. Vetr upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $77.33 target price for the company in a research report on Thursday, December 22nd. Robert W. Baird reiterated an “outperform” rating and set a $79.00 target price on shares of Foot Locker in a research report on Wednesday, December 28th. Zacks Investment Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Thursday, December 29th. Canaccord Genuity reiterated a “buy” rating and set a $83.00 target price on shares of Foot Locker in a research report on Monday, January 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $80.00 target price on shares of Foot Locker in a research report on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $80.96.
Foot Locker (NYSE:FL) traded up 0.76% during midday trading on Friday, hitting $76.42. 1,524,008 shares of the stock were exchanged. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 15.56 and a beta of 0.57. Foot Locker has a one year low of $50.90 and a one year high of $79.43. The company has a 50 day moving average price of $74.24 and a 200 day moving average price of $71.81.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, February 24th. The textile maker reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The business earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. Equities analysts anticipate that Foot Locker will post $5.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 13th will be paid a dividend of $0.31 per share. This is a positive change from Foot Locker’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $1.24 annualized dividend and a yield of 1.62%. Foot Locker’s dividend payout ratio (DPR) is presently 23.71%.
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In related news, CFO Lauren B. Peters sold 25,000 shares of Foot Locker stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $77.51, for a total transaction of $1,937,750.00. Following the transaction, the chief financial officer now owns 144,597 shares of the company’s stock, valued at approximately $11,207,713.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cheryl N. Turpin sold 2,000 shares of Foot Locker stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $76.17, for a total transaction of $152,340.00. The disclosure for this sale can be found here. 2.92% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. APG Asset Management N.V. raised its position in Foot Locker by 2.5% in the third quarter. APG Asset Management N.V. now owns 1,695,157 shares of the textile maker’s stock valued at $114,796,000 after buying an additional 41,100 shares during the last quarter. Capital One National Association purchased a new position in Foot Locker during the third quarter valued at $207,000. World Asset Management Inc raised its position in Foot Locker by 1.6% in the third quarter. World Asset Management Inc now owns 14,061 shares of the textile maker’s stock valued at $952,000 after buying an additional 218 shares during the last quarter. DnB Asset Management AS raised its position in Foot Locker by 16.8% in the third quarter. DnB Asset Management AS now owns 12,500 shares of the textile maker’s stock valued at $846,000 after buying an additional 1,800 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Foot Locker by 2.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,930 shares of the textile maker’s stock valued at $1,417,000 after buying an additional 543 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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