Foot Locker, Inc. (FL) PT Lowered to $77.00 at Robert W. Baird
Foot Locker, Inc. (NYSE:FL) had its target price lowered by Robert W. Baird from $85.00 to $77.00 in a research report sent to investors on Monday, May 22nd. The brokerage currently has an outperform rating on the athletic footwear retailer’s stock.
A number of other brokerages have also weighed in on FL. B. Riley restated a buy rating and issued a $79.00 price objective on shares of Foot Locker in a report on Wednesday, April 26th. Jefferies Group LLC set a $80.00 price target on shares of Foot Locker and gave the company a buy rating in a report on Saturday, May 20th. Canaccord Genuity set a $75.00 price target on shares of Foot Locker and gave the company a buy rating in a report on Saturday, May 20th. Piper Jaffray Companies set a $60.00 price objective on shares of Foot Locker and gave the stock a hold rating in a report on Saturday, May 20th. Finally, Wedbush upped their price objective on shares of Foot Locker from $81.00 to $84.00 and gave the stock an outperform rating in a report on Monday, February 27th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Foot Locker presently has a consensus rating of Buy and a consensus target price of $74.62.
Shares of Foot Locker (NYSE FL) traded down 1.50% during midday trading on Monday, hitting $52.04. The stock had a trading volume of 6,714,121 shares. Foot Locker has a 1-year low of $50.59 and a 1-year high of $79.43. The firm has a market capitalization of $6.83 billion, a PE ratio of 10.68 and a beta of 0.63. The company’s 50 day moving average price is $64.78 and its 200-day moving average price is $70.92.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, July 12th. Foot Locker’s dividend payout ratio (DPR) is presently 25.36%.
In other Foot Locker news, Director Jarobin Gilbert, Jr. sold 5,600 shares of Foot Locker stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total value of $332,640.00. Following the transaction, the director now directly owns 8,964 shares in the company, valued at approximately $532,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paulette Alviti sold 8,000 shares of Foot Locker stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $74.50, for a total value of $596,000.00. Following the completion of the transaction, the senior vice president now owns 36,641 shares in the company, valued at $2,729,754.50. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC increased its stake in Foot Locker by 18.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,360 shares of the athletic footwear retailer’s stock worth $104,000 after buying an additional 213 shares during the period. Acrospire Investment Management LLC increased its stake in Foot Locker by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 1,500 shares of the athletic footwear retailer’s stock worth $112,000 after buying an additional 500 shares during the period. Van ECK Associates Corp increased its stake in Foot Locker by 7.3% in the fourth quarter. Van ECK Associates Corp now owns 1,938 shares of the athletic footwear retailer’s stock worth $137,000 after buying an additional 132 shares during the period. Pacer Advisors Inc. boosted its position in shares of Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock valued at $197,000 after buying an additional 88 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Foot Locker during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 96.45% 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 is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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