Foot Locker Inc. (FL) Trading Down 2.1%
Foot Locker Inc. (NYSE:FL) fell 2.1% on Thursday . The company traded as low as $66.71 and last traded at $66.78, with a volume of 1,205,512 shares trading hands. The stock had previously closed at $68.22.
A number of brokerages have weighed in on FL. B. Riley restated a “neutral” rating and set a $63.00 price objective on shares of Foot Locker in a research note on Sunday, May 22nd. 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. Telsey Advisory Group lowered their price objective on Foot Locker from $78.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, May 23rd. Jefferies Group restated a “buy” rating and set a $73.00 price objective (down previously from $82.00) on shares of Foot Locker in a research note on Tuesday, May 24th. Finally, Piper Jaffray Cos. set a $67.00 price objective on Foot Locker and gave the company a “buy” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $73.40.
The stock has a 50 day moving average price of $60.55 and a 200 day moving average price of $60.32. The company has a market cap of $9.02 billion and a P/E ratio of 16.55.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 19th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, equities research analysts anticipate that Foot Locker Inc. will post $4.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%.
In other Foot Locker news, Chairman Richard A. Johnson sold 50,000 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren B. Peters sold 20,000 shares of the 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 completion of the transaction, the chief financial officer now owns 139,597 shares in the company, valued at $9,492,596. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased 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 period. Dimensional Fund Advisors LP increased 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 period. US Bancorp DE increased 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 period. Finally, KBC Group NV increased 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 period.
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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