Investors Buy Foot Locker Inc. (FL) on Weakness
Traders purchased shares of Foot Locker Inc. (NYSE:FL) on weakness during trading on Monday. $18.00 million flowed into the stock on the tick-up and $13.24 million flowed out of the stock on the tick-down, for a money net flow of $4.76 million into the stock. Of all stocks tracked, Foot Locker had the 22nd highest net in-flow for the day. Foot Locker traded down ($0.10) for the day and closed at $66.44
FL has been the topic of a number of research analyst reports. Jefferies Group restated a “buy” rating and issued a $73.00 target price on shares of Foot Locker in a research report on Wednesday, June 29th. Susquehanna initiated coverage on Foot Locker in a research report on Friday, August 12th. They issued a “positive” rating and a $73.00 target price on the stock. OTR Global downgraded Foot Locker to a “positive” rating in a report on Friday, August 19th. Zacks Investment Research upgraded Foot Locker from a “sell” rating to a “hold” rating in a report on Tuesday, August 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 report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Foot Locker presently has an average rating of “Buy” and an average price target of $73.40.
The firm has a 50 day moving average price of $60.80 and a 200-day moving average price of $60.28. The company has a market capitalization of $9.00 billion and a P/E ratio of 16.53.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 19th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. During the same period last year, the business earned $0.84 earnings per share. The company earned $1.78 billion during the quarter, compared to analysts’ expectations of $1.76 billion. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities 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. Shareholders of record on Friday, October 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.66%. The ex-dividend date is Wednesday, October 12th.
In other news, Director Jarobin Gilbert, Jr. sold 1,000 shares of Foot Locker stock in a transaction dated 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 directly owns 12,876 shares of the company’s stock, valued at $738,567.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren B. Peters sold 20,000 shares of Foot Locker 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 sale, the chief financial officer now directly owns 139,597 shares in the company, valued at $9,492,596. The disclosure for this sale can be found here.
Other hedge funds have made changes to their positions in the company. Ameriprise Financial Inc. raised 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 worth $86,309,000 after buying an additional 59,529 shares during the last quarter. Dimensional Fund Advisors LP raised 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 worth $52,366,000 after buying an additional 18,905 shares during the last quarter. US Bancorp DE raised 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 worth $24,072,000 after buying an additional 2,067 shares during the last quarter. Finally, KBC Group NV raised 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 worth $2,053,000 after buying an additional 560 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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