Foot Locker Inc. (FL) Stock Rating Reaffirmed by Brean Capital
Foot Locker Inc. (NYSE:FL)‘s stock had its “buy” rating reissued by investment analysts at Brean Capital in a research note issued on Tuesday. They presently have a $77.00 target price on the stock, down from their previous target price of $78.00. Brean Capital’s price target would suggest a potential upside of 3.79% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $81.00 target price on shares of Foot Locker in a research note on Saturday. Canaccord Genuity set a $79.00 target price on Foot Locker and gave the company a “buy” rating in a research note on Saturday, November 19th. Piper Jaffray Cos. cut Foot Locker from an “overweight” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Monday. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “buy” rating and set a $75.00 target price (down previously from $76.00) on shares of Foot Locker in a research note on Monday, November 14th. Finally, Jefferies Group lifted their target price on Foot Locker from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $74.32.
Foot Locker (NYSE:FL) opened at 74.19 on Tuesday. The company has a 50-day moving average of $68.94 and a 200 day moving average of $62.26. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 16.02 and a beta of 0.59. Foot Locker has a 12-month low of $50.90 and a 12-month high of $74.71.
Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, November 18th. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The firm had revenue of $1.89 billion for the quarter. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. Equities analysts anticipate that Foot Locker will post $4.76 earnings per share for the current year.
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 given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, January 11th. Foot Locker’s dividend payout ratio is presently 23.71%.
In other news, CEO Lewis Phillip Kimble sold 43,479 shares of the business’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 sale, the chief executive officer now directly owns 26,131 shares in the company, valued at $1,708,967.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nicholas P. Dipaolo sold 5,424 shares of the company’s stock in a transaction 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 sale, the director now owns 68,128 shares in the company, valued at $4,683,800. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FL. Vanguard Group Inc. boosted its stake in shares of Foot Locker by 15.9% in the second quarter. Vanguard Group Inc. now owns 12,566,107 shares of the company’s stock worth $689,377,000 after buying an additional 1,721,731 shares during the period. Bank of Montreal Can bought a new stake in shares of Foot Locker during the second quarter worth $74,928,000. Fiera Capital Corp boosted its stake in shares of Foot Locker by 1,328.7% in the second quarter. Fiera Capital Corp now owns 1,280,095 shares of the company’s stock worth $70,226,000 after buying an additional 1,190,495 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Foot Locker during the third quarter worth $67,260,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Foot Locker by 68.5% in the second quarter. Ameriprise Financial Inc. now owns 2,438,743 shares of the company’s stock worth $133,786,000 after buying an additional 991,321 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.
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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