Foot Locker (FL) Downgraded to “Hold” at ValuEngine
ValuEngine cut shares of Foot Locker (NYSE:FL) from a buy rating to a hold rating in a report published on Friday morning.
Several other equities research analysts also recently weighed in on the company. CIBC raised Foot Locker from a market perform rating to an outperform rating and set a $70.00 price target for the company in a report on Wednesday, January 31st. Oppenheimer raised Foot Locker from a market perform rating to an outperform rating and set a $70.00 price target for the company in a report on Wednesday, January 31st. Barclays raised their price target on Foot Locker from $55.00 to $60.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Pivotal Research assumed coverage on Foot Locker in a report on Thursday, January 25th. They issued a buy rating and a $65.00 price target for the company. Finally, Wedbush reaffirmed an outperform rating and set a $59.00 target price (up previously from $52.00) on shares of Foot Locker in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $56.15.
Shares of Foot Locker (NYSE:FL) opened at $45.63 on Friday. The company has a quick ratio of 2.09, a current ratio of 4.41 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5,530.00, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.25 and a beta of 0.80. Foot Locker has a twelve month low of $28.42 and a twelve month high of $77.86.
The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Friday, January 19th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, January 18th. Foot Locker’s payout ratio is presently 31.23%.
In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total value of $499,392.18. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,603,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Johnson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $50.05, for a total value of $1,251,250.00. The disclosure for this sale can be found here. Insiders sold 56,899 shares of company stock valued at $2,801,692 over the last three months. 1.73% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of FL. Rockefeller Financial Services Inc. purchased a new stake in shares of Foot Locker in the third quarter valued at approximately $42,618,000. Bank of New York Mellon Corp increased its position in shares of Foot Locker by 32.0% in the third quarter. Bank of New York Mellon Corp now owns 3,591,593 shares of the athletic footwear retailer’s stock valued at $126,495,000 after buying an additional 870,899 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Foot Locker in the second quarter valued at approximately $720,000. Bank of Montreal Can increased its position in shares of Foot Locker by 367.4% in the fourth quarter. Bank of Montreal Can now owns 704,932 shares of the athletic footwear retailer’s stock valued at $33,049,000 after buying an additional 554,114 shares in the last quarter. Finally, Boston Partners increased its position in shares of Foot Locker by 711.2% in the fourth quarter. Boston Partners now owns 538,310 shares of the athletic footwear retailer’s stock valued at $25,236,000 after buying an additional 471,947 shares in the last quarter. Institutional investors and hedge funds own 89.01% 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 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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