Foot Locker, Inc. (FL) Announces $0.31 Quarterly Dividend
Foot Locker, Inc. (NYSE:FL) announced a quarterly dividend on Wednesday, August 16th, RTT News reports. Investors of record on Friday, October 13th will be paid a dividend of 0.31 per share by the athletic footwear retailer on Friday, October 27th. This represents a $1.24 annualized dividend and a yield of 2.55%.
Foot Locker has raised its dividend payment by an average of 11.3% per year over the last three years and has increased its dividend every year for the last 6 years. Foot Locker has a payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Foot Locker to earn $5.45 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 22.8%.
Shares of Foot Locker (NYSE FL) traded up 3.06% during mid-day trading on Wednesday, reaching $48.57. 5,584,618 shares of the company traded hands. The company has a market capitalization of $6.38 billion, a P/E ratio of 9.97 and a beta of 0.68. The firm’s 50 day moving average price is $48.35 and its 200-day moving average price is $63.72. Foot Locker has a 52-week low of $44.59 and a 52-week high of $79.43.
A number of equities analysts have weighed in on FL shares. B. Riley restated a “buy” rating and issued a $79.00 price target on shares of Foot Locker in a report on Wednesday, May 17th. Jefferies Group LLC restated a “buy” rating and issued a $88.00 price target on shares of Foot Locker in a report on Friday, April 21st. Canaccord Genuity set a $75.00 price target on Foot Locker and gave the stock a “buy” rating in a report on Saturday, May 20th. Piper Jaffray Companies set a $60.00 price target on Foot Locker and gave the stock a “hold” rating in a report on Saturday, May 20th. Finally, Cowen and Company decreased their price target on Foot Locker from $77.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, May 22nd. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Foot Locker presently has an average rating of “Buy” and a consensus price target of $72.17.
In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total transaction of $332,640.00. Following the sale, the director now directly owns 8,964 shares of the company’s stock, valued at approximately $532,461.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.73% 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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