Foot Locker (NYSE:FL) had its price objective increased by JPMorgan Chase & Co. from $42.00 to $51.00 in a research note issued to investors on Tuesday, May 29th. The brokerage currently has a neutral rating on the athletic footwear retailer’s stock.
A number of other research firms have also weighed in on FL. Pivotal Research reissued a buy rating and set a $57.00 price objective (down previously from $65.00) on shares of Foot Locker in a research note on Monday, March 5th. Robert W. Baird reaffirmed a hold rating on shares of Foot Locker in a research note on Tuesday, March 6th. Buckingham Research reaffirmed a buy rating and issued a $54.00 price target on shares of Foot Locker in a research note on Wednesday, April 18th. Wedbush reaffirmed an outperform rating on shares of Foot Locker in a research note on Monday, February 5th. Finally, ValuEngine lowered Foot Locker from a buy rating to a hold rating in a research note on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Foot Locker currently has an average rating of Hold and a consensus price target of $56.13.
Shares of NYSE:FL traded up $0.43 during trading on Tuesday, reaching $57.65. 2,238,200 shares of the company traded hands, compared to its average volume of 3,567,448. The firm has a market cap of $6.78 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. Foot Locker has a 52-week low of $28.42 and a 52-week high of $59.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.04 and a current ratio of 3.89.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, May 25th. The athletic footwear retailer reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.96 billion. Foot Locker had a return on equity of 19.60% and a net margin of 3.45%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. research analysts predict that Foot Locker will post 4.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 3rd. Stockholders of record on Friday, July 20th will be issued a dividend of $0.345 per share. The ex-dividend date is Thursday, July 19th. This represents a $1.38 annualized dividend and a dividend yield of 2.39%. Foot Locker’s payout ratio is presently 33.58%.
In other 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 transaction of $1,296,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its position in Foot Locker by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 677,721 shares of the athletic footwear retailer’s stock worth $31,772,000 after purchasing an additional 25,617 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Foot Locker by 31.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 236,127 shares of the athletic footwear retailer’s stock worth $11,069,000 after purchasing an additional 55,947 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Foot Locker by 9.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 72,939 shares of the athletic footwear retailer’s stock worth $3,419,000 after purchasing an additional 6,582 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Foot Locker in the fourth quarter worth about $281,000. Finally, Cigna Investments Inc. New purchased a new position in Foot Locker in the fourth quarter worth about $217,000. Institutional investors own 91.54% of the company’s stock.
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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