Robert W. Baird upgraded shares of Foot Locker (NYSE:FL) from a neutral rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat reports.
A number of other brokerages have also weighed in on FL. Zacks Investment Research raised Foot Locker from a hold rating to a buy rating and set a $59.00 price target on the stock in a research note on Tuesday, December 11th. Canaccord Genuity set a $64.00 target price on Foot Locker and gave the stock a buy rating in a research report on Wednesday, November 21st. Finally, Cowen set a $56.00 target price on Foot Locker and gave the stock a hold rating in a research report on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $59.05.
Shares of Foot Locker stock traded down $0.60 on Wednesday, hitting $55.72. The stock had a trading volume of 163,480 shares, compared to its average volume of 3,278,760. Foot Locker has a 52-week low of $38.17 and a 52-week high of $59.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.42. The company has a market capitalization of $6.20 billion, a P/E ratio of 13.56, a PEG ratio of 1.63 and a beta of 0.81.
Foot Locker (NYSE:FL) last released its earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Foot Locker had a return on equity of 21.01% and a net margin of 4.24%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, analysts forecast that Foot Locker will post 4.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Friday, January 18th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, January 17th. Foot Locker’s dividend payout ratio is currently 33.58%.
In related news, VP John A. Maurer sold 2,041 shares of the firm’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $52.00, for a total transaction of $106,132.00. Following the transaction, the vice president now directly owns 18,540 shares of the company’s stock, valued at $964,080. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John A. Maurer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the vice president now directly owns 25,581 shares in the company, valued at $1,355,793. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,082 shares of company stock valued at $832,934. Corporate insiders own 2.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new stake in shares of Foot Locker during the 3rd quarter valued at approximately $124,000. Stratos Wealth Partners LTD. acquired a new stake in Foot Locker during the 3rd quarter worth approximately $146,000. Stephens Inc. AR acquired a new stake in Foot Locker during the 2nd quarter worth approximately $203,000. Advisors Asset Management Inc. boosted its position in Foot Locker by 61.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock worth $220,000 after buying an additional 1,592 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in Foot Locker during the 2nd quarter worth approximately $221,000. 97.78% of the stock is currently owned by institutional investors and hedge funds.
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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