Foot Locker Inc. (FL) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Foot Locker Inc. (NYSE:FL) issued its quarterly earnings results on Friday. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Foot Locker had a return on equity of 23.99% and a net margin of 7.35%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS.
Shares of Foot Locker (NYSE:FL) opened at 71.78 on Monday. The firm has a market capitalization of $9.56 billion, a P/E ratio of 17.86 and a beta of 0.59. The stock’s 50 day moving average price is $67.96 and its 200-day moving average price is $61.66. Foot Locker has a 12-month low of $50.90 and a 12-month high of $72.60.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 13th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, January 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.53%. Foot Locker’s payout ratio is 23.71%.
Several research firms have issued reports on FL. B. Riley reiterated a “buy” rating and set a $80.00 target price (up previously from $75.00) on shares of Foot Locker in a research report on Monday, August 22nd. Piper Jaffray Cos. set a $67.00 target price on Foot Locker and gave the stock a “buy” rating in a research report on Thursday, August 18th. Canaccord Genuity set a $79.00 target price on Foot Locker and gave the stock a “buy” rating in a research report on Saturday, November 12th. Zacks Investment Research cut Foot Locker from a “buy” rating to a “hold” rating in a research report on Monday, September 12th. Finally, Citigroup Inc. boosted their target price on Foot Locker from $68.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Foot Locker presently has a consensus rating of “Buy” and an average target price of $74.32.
In related news, Director Nicholas P. Dipaolo sold 5,424 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $68.75, for a total value of $372,900.00. Following the completion of the transaction, the director now owns 68,128 shares of the company’s stock, valued at approximately $4,683,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lewis Phillip Kimble sold 43,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $65.40, for a total transaction of $2,843,526.60. Following the completion of the transaction, the chief executive officer now directly owns 26,131 shares of the company’s stock, valued at approximately $1,708,967.40. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. National Pension Service raised its position in Foot Locker by 4.7% in the first quarter. National Pension Service now owns 97,181 shares of the company’s stock worth $6,268,000 after buying an additional 4,359 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Foot Locker by 64.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 19,196 shares of the company’s stock worth $1,238,000 after buying an additional 7,523 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Foot Locker by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 90,653 shares of the company’s stock worth $5,847,000 after buying an additional 6,422 shares during the period. Springbok Capital Management LLC raised its stake in shares of Foot Locker by 562.3% in the first quarter. Springbok Capital Management LLC now owns 8,000 shares of the company’s stock worth $516,000 after buying an additional 6,792 shares during the period. Finally, A.R.T. Advisors LLC raised its stake in shares of Foot Locker by 166.3% in the first quarter. A.R.T. Advisors LLC now owns 29,944 shares of the company’s stock worth $1,931,000 after buying an additional 18,700 shares during the period. 95.31% of the stock is owned by hedge funds and other institutional investors.
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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