Analysts Set Foot Locker Inc. (FL) Price Target at $75.25
Shares of Foot Locker Inc. (NYSE:FL) have been given an average rating of “Buy” by the twenty-three analysts that are currently covering the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $75.25.
A number of research analysts recently commented on the company. B. Riley boosted their price target on Foot Locker from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Piper Jaffray Cos. set a $67.00 price target on Foot Locker and gave the stock a “buy” rating in a report on Thursday, August 18th. Canaccord Genuity set a $79.00 price target on Foot Locker and gave the stock a “buy” rating in a report on Saturday, November 12th. Zacks Investment Research cut Foot Locker from a “buy” rating to a “hold” rating in a report on Monday, September 12th. Finally, Citigroup Inc. boosted their price target on Foot Locker from $68.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 22nd.
Shares of Foot Locker (NYSE:FL) opened at 73.93 on Friday. Foot Locker has a 1-year low of $50.90 and a 1-year high of $74.74. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 15.96 and a beta of 0.59. The stock’s 50 day moving average price is $69.14 and its 200-day moving average price is $62.35.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, November 18th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The firm had revenue of $1.89 billion for the quarter. During the same period in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Foot Locker will post $4.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors 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 1.49%. The ex-dividend date is Wednesday, January 11th. Foot Locker’s dividend payout ratio (DPR) is currently 23.71%.
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In related news, Director Nicholas P. Dipaolo sold 5,424 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $68.75, for a total transaction of $372,900.00. Following the transaction, the director now directly owns 68,128 shares of the company’s stock, valued at approximately $4,683,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lewis Phillip Kimble sold 43,479 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.40, for a total value of $2,843,526.60. Following the transaction, the chief executive officer now directly owns 26,131 shares in the company, valued at $1,708,967.40. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 valued at $689,377,000 after buying an additional 1,721,731 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Foot Locker during the second quarter valued at about $74,928,000. Fiera Capital Corp raised its position 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 valued at $70,226,000 after buying an additional 1,190,495 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Foot Locker during the third quarter valued at about $67,260,000. Finally, Ameriprise Financial Inc. raised its position 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 valued at $133,786,000 after buying an additional 991,321 shares in the last quarter. 94.60% of the stock is currently owned by 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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