Traders Buy Shares of Foot Locker Inc. (FL) on Weakness
Traders purchased shares of Foot Locker Inc. (NYSE:FL) on weakness during trading hours on Thursday. $32.06 million flowed into the stock on the tick-up and $21.10 million flowed out of the stock on the tick-down, for a money net flow of $10.96 million into the stock. Of all equities tracked, Foot Locker had the 16th highest net in-flow for the day. Foot Locker traded down ($1.31) for the day and closed at $66.91
A number of equities research analysts have weighed in on FL shares. Zacks Investment Research cut Foot Locker from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $67.00 price objective on shares of Foot Locker in a research note on Thursday, May 5th. Vetr upgraded Foot Locker from a “buy” rating to a “strong-buy” rating and set a $68.03 price objective for the company in a research note on Thursday, May 5th. Canaccord Genuity reiterated a “buy” rating and issued a $81.00 price objective on shares of Foot Locker in a research note on Monday, May 16th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $79.00 price objective (down previously from $80.00) on shares of Foot Locker in a research note on Monday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $73.40.
The company’s 50 day moving average price is $60.24 and its 200-day moving average price is $60.30. The company has a market cap of $9.07 billion and a price-to-earnings ratio of 16.64.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, August 19th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. During the same period last year, the business posted $0.84 EPS. The company earned $1.78 billion during the quarter, compared to the consensus estimate of $1.76 billion. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Foot Locker Inc. will post $4.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Wednesday, October 12th.
In other Foot Locker news, Director Jarobin Gilbert, Jr. sold 1,000 shares of Foot Locker stock in a transaction on Friday, July 8th. The stock was sold at an average price of $57.36, for a total transaction of $57,360.00. Following the sale, the director now owns 12,876 shares of the company’s stock, valued at approximately $738,567.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lauren B. Peters sold 20,000 shares of Foot Locker stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $68.00, for a total value of $1,360,000.00. Following the sale, the chief financial officer now directly owns 139,597 shares in the company, valued at approximately $9,492,596. The disclosure for this sale can be found here.
A number of hedge funds have made changes to their positions in FL. KBC Group NV increased its stake in shares of Foot Locker by 1.8% in the fourth quarter. KBC Group NV now owns 31,528 shares of the company’s stock valued at $2,053,000 after buying an additional 560 shares during the last quarter. US Bancorp DE increased its stake in shares of Foot Locker by 0.6% in the fourth quarter. US Bancorp DE now owns 369,831 shares of the company’s stock valued at $24,072,000 after buying an additional 2,067 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Foot Locker by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 804,527 shares of the company’s stock valued at $52,366,000 after buying an additional 18,905 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Foot Locker by 4.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,325,990 shares of the company’s stock valued at $86,309,000 after buying an additional 59,529 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.