Deutsche Bank AG Lowers Foot Locker, Inc. (FL) to Hold
Deutsche Bank AG downgraded shares of Foot Locker, Inc. (NYSE:FL) from a buy rating to a hold rating in a research report sent to investors on Friday. Deutsche Bank AG currently has $72.00 target price on the athletic footwear retailer’s stock.
Other equities research analysts have also recently issued reports about the stock. B. Riley reissued a buy rating and issued a $79.00 price objective on shares of Foot Locker in a research note on Wednesday, May 17th. Jefferies Group LLC reissued a buy rating and issued a $88.00 price objective on shares of Foot Locker in a research note on Friday, April 21st. Canaccord Genuity set a $75.00 price objective on shares of Foot Locker and gave the company a buy rating in a research note on Saturday, May 20th. Piper Jaffray Companies set a $60.00 price objective on shares of Foot Locker and gave the company a hold rating in a research note on Saturday, May 20th. Finally, Cowen and Company lowered their price objective on shares of Foot Locker from $77.00 to $64.00 and set a market perform rating on the stock in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Foot Locker presently has an average rating of Hold and an average price target of $68.81.
Foot Locker (NYSE FL) opened at 34.38 on Friday. The company’s 50 day moving average is $47.92 and its 200 day moving average is $63.26. The stock has a market cap of $4.54 billion, a PE ratio of 7.95 and a beta of 0.68. Foot Locker has a one year low of $34.29 and a one year high of $79.43.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.28. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. On average, equities research analysts expect that Foot Locker will post $5.07 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 annualized dividend and a dividend yield of 3.61%. Foot Locker’s payout ratio is currently 28.57%.
In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $59.40, for a total value of $332,640.00. Following the transaction, the director now owns 8,964 shares in the company, valued at $532,461.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.73% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its position in Foot Locker by 24.5% in the second quarter. Toronto Dominion Bank now owns 44,472 shares of the athletic footwear retailer’s stock valued at $2,190,000 after buying an additional 8,746 shares during the last quarter. Advisory Services Network LLC raised its position in Foot Locker by 13.1% in the second quarter. Advisory Services Network LLC now owns 5,467 shares of the athletic footwear retailer’s stock valued at $269,000 after buying an additional 632 shares during the last quarter. Afam Capital Inc. raised its position in Foot Locker by 3.0% in the second quarter. Afam Capital Inc. now owns 19,624 shares of the athletic footwear retailer’s stock valued at $967,000 after buying an additional 573 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Foot Locker during the second quarter valued at approximately $599,000. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Foot Locker during the second quarter valued at approximately $254,000. Hedge funds and other institutional investors own 93.49% of the company’s stock.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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