Foot Locker (NYSE:FL) Rating Increased to B- at TheStreet

TheStreet upgraded shares of Foot Locker (NYSE:FLGet Rating) from a c rating to a b- rating in a report issued on Monday morning, TheStreetRatingsTable reports.

Several other research firms have also recently commented on FL. William Blair raised Foot Locker to a hold rating and set a $29.00 price target for the company in a report on Monday, August 22nd. Guggenheim raised their target price on Foot Locker to $43.00 in a research note on Monday, August 22nd. Robert W. Baird raised their target price on Foot Locker from $32.00 to $40.00 in a research note on Monday, August 22nd. Credit Suisse Group cut their target price on Foot Locker to $38.00 in a research note on Thursday, November 17th. Finally, Bank of America raised Foot Locker from an underperform rating to a neutral rating and raised their target price for the stock from $28.00 to $43.00 in a research note on Friday, August 19th. Twenty equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $39.61.

Foot Locker Price Performance

NYSE:FL opened at $37.53 on Monday. Foot Locker has a one year low of $23.85 and a one year high of $50.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.43 and a current ratio of 1.54. The stock has a market cap of $3.50 billion, a PE ratio of 8.55, a P/E/G ratio of 0.25 and a beta of 1.24. The stock has a 50 day moving average price of $33.17 and a 200 day moving average price of $31.57.

Foot Locker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $1.60 annualized dividend and a yield of 4.26%. Foot Locker’s payout ratio is 36.45%.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 9,739 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $39.03, for a total transaction of $380,113.17. Following the completion of the transaction, the insider now directly owns 12,740,578 shares of the company’s stock, valued at approximately $497,264,759.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Vesa Equity Investment S.A R.L sold 9,739 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $39.03, for a total value of $380,113.17. Following the completion of the sale, the insider now directly owns 12,740,578 shares of the company’s stock, valued at approximately $497,264,759.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Todd Greener sold 2,500 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $30.99, for a total value of $77,475.00. Following the completion of the sale, the senior vice president now directly owns 8,421 shares of the company’s stock, valued at $260,966.79. The disclosure for this sale can be found here. Insiders sold 557,380 shares of company stock valued at $18,395,121 in the last three months. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in shares of Foot Locker by 5.8% in the 1st quarter. Teacher Retirement System of Texas now owns 19,227 shares of the athletic footwear retailer’s stock valued at $570,000 after purchasing an additional 1,048 shares during the last quarter. Swiss National Bank raised its stake in Foot Locker by 7.8% during the 1st quarter. Swiss National Bank now owns 220,900 shares of the athletic footwear retailer’s stock valued at $6,552,000 after acquiring an additional 15,900 shares during the last quarter. ProShare Advisors LLC raised its stake in Foot Locker by 101.8% during the 2nd quarter. ProShare Advisors LLC now owns 14,129 shares of the athletic footwear retailer’s stock valued at $356,000 after acquiring an additional 7,128 shares during the last quarter. Independent Advisor Alliance raised its stake in Foot Locker by 48.4% during the 2nd quarter. Independent Advisor Alliance now owns 16,062 shares of the athletic footwear retailer’s stock valued at $406,000 after acquiring an additional 5,237 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in Foot Locker by 43.7% during the 1st quarter. Walleye Capital LLC now owns 40,590 shares of the athletic footwear retailer’s stock valued at $1,204,000 after acquiring an additional 12,351 shares during the last quarter. 98.06% of the stock is owned by hedge funds and other institutional investors.

About Foot Locker

(Get Rating)

Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep brand names.

Further Reading

Analyst Recommendations for Foot Locker (NYSE:FL)

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