Investors Buy Shares of Foot Locker Inc. (FL) on Weakness
Traders bought shares of Foot Locker Inc. (NYSE:FL) on weakness during trading 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 companies 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 brokerages have recently commented on FL. B. Riley reissued a “neutral” rating and set a $63.00 price target on shares of Foot Locker in a report on Sunday, May 22nd. Zacks Investment Research lowered Foot Locker from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Piper Jaffray Cos. reissued a “buy” rating on shares of Foot Locker in a report on Wednesday, June 15th. Vetr raised Foot Locker from a “buy” rating to a “strong-buy” rating and set a $68.03 price target on the stock in a report on Thursday, May 5th. Finally, Canaccord Genuity set a $75.00 price target on Foot Locker and gave the company a “buy” rating in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.40.
The firm’s 50-day moving average price is $60.55 and its 200 day moving average price is $60.32. The company has a market cap of $9.02 billion and a price-to-earnings ratio of 16.55.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 19th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. On average, analysts predict that Foot Locker Inc. will post $4.76 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%.
In related news, CFO Lauren B. Peters sold 20,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $68.00, for a total value of $1,360,000.00. Following the completion of the sale, the chief financial officer now owns 139,597 shares in the company, valued at $9,492,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Johnson sold 50,000 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $68.04, for a total value of $3,402,000.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of FL. KBC Group NV boosted its position in Foot Locker by 1.8% in the fourth quarter. KBC Group NV now owns 31,528 shares of the company’s stock worth $2,053,000 after buying an additional 560 shares during the last quarter. US Bancorp DE boosted its position in Foot Locker by 0.6% in the fourth quarter. US Bancorp DE now owns 369,831 shares of the company’s stock worth $24,072,000 after buying an additional 2,067 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Foot Locker by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 804,527 shares of the company’s stock worth $52,366,000 after buying an additional 18,905 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Foot Locker by 4.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,325,990 shares of the company’s stock worth $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.
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