Cowen and Company Reiterates “Market Perform” Rating for Foot Locker, Inc. (FL)
Foot Locker, Inc. (NYSE:FL)‘s stock had its “market perform” rating reaffirmed by research analysts at Cowen and Company in a report issued on Sunday, April 23rd. They presently have a $77.00 target price on the textile maker’s stock. Cowen and Company’s target price suggests a potential upside of 27.76% from the stock’s previous close.
Several other research firms have also weighed in on FL. B. Riley reiterated a “buy” rating and issued a $79.00 price objective on shares of Foot Locker in a research note on Thursday, April 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $88.00 price objective on shares of Foot Locker in a research note on Friday, April 21st. FBR & Co set a $76.00 price objective on Foot Locker and gave the company a “hold” rating in a research note on Monday, February 27th. Zacks Investment Research lowered Foot Locker from a “buy” rating to a “hold” rating in a research note on Thursday, March 2nd. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $86.00 price target on shares of Foot Locker in a research report on Friday, April 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $76.59.
Foot Locker (NYSE:FL) traded up 2.64% during midday trading on Friday, hitting $60.27. The stock had a trading volume of 7,049,640 shares. The company has a 50-day moving average price of $73.60 and a 200-day moving average price of $72.81. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 12.37 and a beta of 0.57. Foot Locker has a 12-month low of $50.90 and a 12-month high of $79.43.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, May 19th. The textile maker reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by $0.02. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities analysts anticipate that Foot Locker will post $5.29 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, July 12th. Foot Locker’s dividend payout ratio (DPR) is currently 23.71%.
In related news, CFO Lauren B. Peters sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $77.51, for a total transaction of $1,937,750.00. Following the sale, the chief financial officer now owns 144,597 shares of the company’s stock, valued at approximately $11,207,713.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paulette Alviti sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $74.50, for a total value of $596,000.00. Following the sale, the senior vice president now directly owns 36,641 shares in the company, valued at approximately $2,729,754.50. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock worth $2,686,090. 2.92% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. 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 textile maker’s stock valued at $104,000 after buying an additional 213 shares in the last quarter. 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 textile maker’s stock valued at $112,000 after buying an additional 500 shares in the last quarter. 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 textile maker’s stock valued at $137,000 after buying an additional 132 shares in the last quarter. Pacer Advisors Inc. increased its stake in Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the textile maker’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 stake in Foot Locker during the first quarter valued at about $204,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.
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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