Foot Locker Inc. (FL) Earns “Buy” Rating from Deutsche Bank AG
Deutsche Bank AG restated their buy rating on shares of Foot Locker Inc. (NYSE:FL) in a research report sent to investors on Monday. Deutsche Bank AG currently has a $75.00 price objective on the stock, down from their previous price objective of $76.00.
Several other equities research analysts have also recently weighed in on FL. Zacks Investment Research cut shares of Foot Locker from a hold rating to a sell rating in a research report on Tuesday, July 26th. B. Riley raised shares of Foot Locker from a neutral rating to a buy rating and set a $75.00 price target for the company in a research report on Friday, August 12th. Susquehanna started coverage on shares of Foot Locker in a research report on Friday, August 12th. They set a positive rating and a $73.00 price target for the company. Canaccord Genuity set a $75.00 price target on shares of Foot Locker and gave the company a buy rating in a research report on Monday, August 15th. Finally, OTR Global cut shares of Foot Locker to a positive rating in a research report on Friday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Foot Locker presently has a consensus rating of Buy and an average price target of $73.46.
Shares of Foot Locker (NYSE:FL) traded up 0.03% during trading on Monday, reaching $69.74. 621,656 shares of the company were exchanged. The stock has a market capitalization of $9.29 billion, a PE ratio of 17.35 and a beta of 0.59. The stock has a 50-day moving average price of $68.19 and a 200-day moving average price of $61.85. Foot Locker has a one year low of $50.90 and a one year high of $73.37.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, August 19th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The business earned $1.78 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Foot Locker had a net margin of 7.35% and a return on equity of 23.99%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. Analysts forecast that Foot Locker will post $4.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.58%. Foot Locker’s dividend payout ratio is currently 27.23%.
In related news, Chairman Richard A. Johnson sold 50,000 shares of Foot Locker stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $68.04, for a total value of $3,402,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lauren B. Peters sold 20,000 shares of Foot Locker stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $68.00, for a total value of $1,360,000.00. Following the completion of the sale, the chief financial officer now owns 139,597 shares of the company’s stock, valued at $9,492,596. The disclosure for this sale can be found here. Insiders own 2.92% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Foot Locker during the third quarter worth approximately $102,000. Global X Management Co. LLC increased its position in shares of Foot Locker by 310.6% in the second quarter. Global X Management Co. LLC now owns 1,823 shares of the company’s stock worth $100,000 after buying an additional 1,379 shares in the last quarter. Euclid Advisors LLC purchased a new position in shares of Foot Locker during the second quarter worth approximately $127,000. Huntington National Bank increased its position in shares of Foot Locker by 187.3% in the second quarter. Huntington National Bank now owns 2,396 shares of the company’s stock worth $131,000 after buying an additional 1,562 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of Foot Locker by 96.1% in the third quarter. Penserra Capital Management LLC now owns 2,518 shares of the company’s stock worth $169,000 after buying an additional 1,234 shares in the last quarter. Hedge funds and other institutional investors own 95.31% of the company’s stock.
Foot Locker Company Profile
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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