Foot Locker (NYSE:FL) had its target price hoisted by Wedbush from $61.00 to $63.00 in a research report sent to investors on Friday, June 8th. The firm currently has an outperform rating on the athletic footwear retailer’s stock.
Several other brokerages also recently commented on FL. Deutsche Bank set a $58.00 target price on Foot Locker and gave the company a buy rating in a research note on Wednesday, April 4th. Guggenheim reiterated a buy rating and set a $51.00 target price on shares of Foot Locker in a research note on Friday, March 2nd. Pivotal Research set a $57.00 target price on Foot Locker and gave the company a buy rating in a research note on Tuesday, February 27th. Canaccord Genuity set a $67.00 target price on Foot Locker and gave the company a buy rating in a research note on Monday, February 26th. Finally, Citigroup cut their target price on Foot Locker from $54.00 to $46.00 and set a buy rating on the stock in a research note on Monday, March 5th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $56.24.
Foot Locker opened at $54.58 on Friday, MarketBeat Ratings reports. The company has a current ratio of 3.89, a quick ratio of 2.04 and a debt-to-equity ratio of 0.05. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.90 and a beta of 0.93. Foot Locker has a fifty-two week low of $28.42 and a fifty-two week high of $59.40.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, May 25th. The athletic footwear retailer reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.96 billion. Foot Locker had a return on equity of 19.60% and a net margin of 3.45%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. analysts expect that Foot Locker will post 4.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 3rd. Investors of record on Friday, July 20th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $1.38 dividend on an annualized basis and a yield of 2.53%. Foot Locker’s dividend payout ratio is currently 33.58%.
In related news, CFO Lauren B. Peters sold 25,000 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $51.85, for a total value of $1,296,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in FL. TIAA CREF Investment Management LLC raised its holdings in Foot Locker by 0.4% during the fourth quarter. TIAA CREF Investment Management LLC now owns 415,656 shares of the athletic footwear retailer’s stock valued at $19,486,000 after acquiring an additional 1,456 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Foot Locker by 5.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,185 shares of the athletic footwear retailer’s stock valued at $1,603,000 after acquiring an additional 1,900 shares during the period. Rampart Investment Management Company LLC raised its holdings in Foot Locker by 119.0% during the first quarter. Rampart Investment Management Company LLC now owns 3,626 shares of the athletic footwear retailer’s stock valued at $165,000 after acquiring an additional 1,970 shares during the period. Signaturefd LLC bought a new stake in Foot Locker during the first quarter valued at about $103,000. Finally, Clearbridge Investments LLC raised its holdings in Foot Locker by 0.3% during the fourth quarter. Clearbridge Investments LLC now owns 968,050 shares of the athletic footwear retailer’s stock valued at $45,382,000 after acquiring an additional 2,547 shares during the period. 93.20% of the stock is currently owned by institutional investors.
About Foot Locker
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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