Foot Locker Inc. to Issue Quarterly Dividend of $0.28 (FL)
Foot Locker Inc. (NYSE:FL) declared a quarterly dividend on Wednesday, November 16th. Investors of record on Friday, January 13th will be paid a dividend of 0.275 per share on Friday, January 27th. This represents a $1.10 annualized dividend and a dividend yield of 1.58%.
Shares of Foot Locker (NYSE:FL) traded down 0.49% on Wednesday, hitting $69.72. 3,163,781 shares of the company traded hands. The firm’s 50-day moving average is $67.96 and its 200 day moving average is $61.66. The firm has a market capitalization of $9.29 billion, a P/E ratio of 17.34 and a beta of 0.59. Foot Locker has a 1-year low of $50.90 and a 1-year high of $71.94.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, August 19th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The company earned $1.78 billion during the quarter, compared to analyst estimates of $1.76 billion. Foot Locker had a net margin of 7.35% and a return on equity of 23.99%. Foot Locker’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, analysts anticipate that Foot Locker will post $4.76 earnings per share for the current fiscal year.
In other news, Director Cheryl N. Turpin sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $69.16, for a total transaction of $691,600.00. Following the transaction, the director now owns 40,858 shares in the company, valued at $2,825,739.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Lauren B. Peters sold 20,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $68.00, for a total transaction of $1,360,000.00. Following the transaction, the chief financial officer now owns 139,597 shares in the company, valued at approximately $9,492,596. The disclosure for this sale can be found here. Insiders own 2.92% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. bought a new position in Foot Locker during the third quarter valued at about $102,000. Euclid Advisors LLC bought a new position in Foot Locker during the second quarter valued at about $127,000. Pacer Advisors Inc. increased its position in Foot Locker by 10.2% in the second quarter. Pacer Advisors Inc. now owns 2,574 shares of the company’s stock valued at $141,000 after buying an additional 239 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Foot Locker by 128.6% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,200 shares of the company’s stock valued at $176,000 after buying an additional 1,800 shares during the period. Finally, Baird Financial Group Inc. increased its position in Foot Locker by 6.4% in the second quarter. Baird Financial Group Inc. now owns 4,633 shares of the company’s stock valued at $254,000 after buying an additional 279 shares during the period. Hedge funds and other institutional investors own 95.31% of the company’s stock.
Several research firms have commented on FL. B. Riley reaffirmed a “buy” rating and set a $77.00 price objective on shares of Foot Locker in a research note on Monday. Canaccord Genuity set a $79.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a research note on Saturday. Telsey Advisory Group lifted their price objective on shares of Foot Locker from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, August 22nd. Piper Jaffray Cos. set a $67.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a research note on Thursday, August 18th. Finally, Susquehanna boosted their target price on shares of Foot Locker from $73.00 to $80.00 and gave the company a “positive” rating in a research note on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.46.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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