Foot Locker, Inc. (NYSE:FL) – Investment analysts at B. Riley raised their FY2022 earnings per share estimates for Foot Locker in a report issued on Monday, November 22nd. B. Riley analyst S. Anderson now anticipates that the athletic footwear retailer will post earnings of $7.57 per share for the year, up from their prior estimate of $7.03.
A number of other research analysts also recently weighed in on FL. Telsey Advisory Group reduced their target price on Foot Locker from $67.00 to $64.00 and set a “market perform” rating on the stock in a report on Tuesday, November 16th. Wedbush assumed coverage on Foot Locker in a report on Monday, October 4th. They set a “neutral” rating and a $51.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Foot Locker from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, October 18th. Robert W. Baird cut their price target on Foot Locker from $66.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Finally, Pivotal Research upped their price target on Foot Locker from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $65.37.
Foot Locker (NYSE:FL) last posted its earnings results on Friday, November 19th. The athletic footwear retailer reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.56. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Foot Locker had a net margin of 10.37% and a return on equity of 25.89%. Foot Locker’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. IndexIQ Advisors LLC boosted its position in shares of Foot Locker by 2.7% in the second quarter. IndexIQ Advisors LLC now owns 7,192 shares of the athletic footwear retailer’s stock worth $443,000 after buying an additional 189 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in Foot Locker by 0.3% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 78,080 shares of the athletic footwear retailer’s stock valued at $4,812,000 after buying an additional 200 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Foot Locker by 1.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 15,158 shares of the athletic footwear retailer’s stock valued at $692,000 after buying an additional 218 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its stake in shares of Foot Locker by 1.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 16,170 shares of the athletic footwear retailer’s stock valued at $997,000 after acquiring an additional 245 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in Foot Locker by 4.0% in the 2nd quarter. Stephens Inc. AR now owns 6,792 shares of the athletic footwear retailer’s stock worth $419,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.
In other news, Director Matthew M. Mckenna sold 10,214 shares of the company’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $52.97, for a total transaction of $541,035.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, January 13th. Foot Locker’s dividend payout ratio is presently 13.78%.
About Foot Locker
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.
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