Brokerages Set Foot Locker, Inc. (NYSE:FL) Price Target at $57.09

Shares of Foot Locker, Inc. (NYSE:FL) have earned a consensus recommendation of “Buy” from the twenty-five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $57.09.

Several brokerages have issued reports on FL. Citigroup increased their target price on shares of Foot Locker from $60.00 to $72.00 in a report on Thursday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Foot Locker from $44.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, February 16th. Cowen increased their target price on shares of Foot Locker from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 8th. They noted that the move was a valuation call. Argus raised their price target on shares of Foot Locker from $58.00 to $71.00 and gave the company a “buy” rating in a report on Friday, May 28th. Finally, Williams Financial Group started coverage on shares of Foot Locker in a report on Monday, February 22nd. They issued a “buy” rating and a $61.00 price target on the stock.

Shares of NYSE FL traded up $1.03 during mid-day trading on Tuesday, reaching $62.20. The company had a trading volume of 5,448 shares, compared to its average volume of 1,671,924. Foot Locker has a 52 week low of $26.58 and a 52 week high of $66.71. The stock’s 50-day moving average price is $60.48. The firm has a market cap of $6.42 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 2.89 and a beta of 1.38.

Foot Locker (NYSE:FL) last issued its earnings results on Thursday, May 20th. The athletic footwear retailer reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.90. Foot Locker had a net margin of 7.45% and a return on equity of 21.23%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned ($0.67) EPS. The firm’s quarterly revenue was up 83.1% on a year-over-year basis. Equities research analysts expect that Foot Locker will post 5.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, July 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, July 15th. Foot Locker’s dividend payout ratio is presently 28.47%.

In other Foot Locker news, VP John A. Maurer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 23rd. The shares were sold at an average price of $56.97, for a total transaction of $284,850.00. Following the completion of the transaction, the vice president now directly owns 24,283 shares of the company’s stock, valued at approximately $1,383,402.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vesa Equity Investment S.A R.L sold 8,561 shares of the firm’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $63.66, for a total transaction of $544,993.26. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Foot Locker by 12.4% during the 1st quarter. Principal Financial Group Inc. now owns 515,161 shares of the athletic footwear retailer’s stock worth $28,978,000 after purchasing an additional 56,741 shares during the period. Atreides Management LP acquired a new stake in shares of Foot Locker during the 1st quarter worth approximately $46,778,000. Squarepoint Ops LLC grew its stake in shares of Foot Locker by 1,699.1% during the 1st quarter. Squarepoint Ops LLC now owns 266,337 shares of the athletic footwear retailer’s stock worth $14,981,000 after purchasing an additional 282,992 shares during the period. Millennium Management LLC grew its stake in shares of Foot Locker by 1,215.7% during the 1st quarter. Millennium Management LLC now owns 96,377 shares of the athletic footwear retailer’s stock worth $5,421,000 after purchasing an additional 89,052 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Foot Locker during the 1st quarter worth approximately $990,000. 91.71% 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 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, Footaction, Runners Point, and Sidestep brand names.

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Analyst Recommendations for Foot Locker (NYSE:FL)

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