Foot Locker Inc. (NYSE:FL) Receives $73.19 Consensus Target Price from Analysts
Shares of Foot Locker Inc. (NYSE:FL) have earned a consensus recommendation of “Buy” from the twenty-four analysts that are presently covering the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $73.19.
A number of analysts have commented on the company. Telsey Advisory Group decreased their target price on Foot Locker from $78.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, May 23rd. BB&T Corp. restated a “buy” rating and issued a $80.00 price objective on shares of Foot Locker in a research report on Monday, May 23rd. Canaccord Genuity reduced their price objective on Foot Locker from $81.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, May 23rd. Brean Capital reduced their price objective on Foot Locker to $66.00 in a research report on Monday, May 23rd. Finally, FBR & Co restated a “market perform” rating and issued a $71.00 price objective on shares of Foot Locker in a research report on Monday, May 23rd.
In related news, Chairman Richard A. Johnson sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $68.04, for a total value of $3,402,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Lauren B. Peters sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 139,597 shares in the company, valued at approximately $9,492,596. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Global X Management Co. LLC boosted its stake in Foot Locker by 310.6% in the second quarter. Global X Management Co. LLC now owns 1,823 shares of the company’s stock valued at $100,000 after buying an additional 1,379 shares in the last quarter. Euclid Advisors LLC acquired a new stake in Foot Locker during the second quarter valued at approximately $127,000. Huntington National Bank boosted its stake in Foot Locker by 187.3% in the second quarter. Huntington National Bank now owns 2,396 shares of the company’s stock valued at $131,000 after buying an additional 1,562 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Foot Locker by 10.2% in the second quarter. Pacer Advisors Inc. now owns 2,574 shares of the company’s stock valued at $141,000 after buying an additional 239 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Foot Locker by 27.3% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,800 shares of the company’s stock valued at $154,000 after buying an additional 600 shares in the last quarter. 96.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Foot Locker (NYSE:FL) opened at 66.62 on Thursday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 16.57 and a beta of 0.63. Foot Locker has a 12 month low of $50.90 and a 12 month high of $77.25. The company’s 50 day moving average price is $63.65 and its 200-day moving average price is $60.28.
Foot Locker (NYSE:FL) last announced its quarterly earnings data on Friday, August 19th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.04. Foot Locker had a return on equity of 23.99% and a net margin of 7.35%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. Foot Locker’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Foot Locker will post $4.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, October 12th. Foot Locker’s dividend payout ratio is presently 27.23%.
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’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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