Wells Fargo & Company Analysts Give Foot Locker, Inc. (FL) a $42.00 Price Target
Wells Fargo & Company set a $42.00 price objective on Foot Locker, Inc. (NYSE:FL) in a research note issued to investors on Monday. The firm currently has a hold rating on the athletic footwear retailer’s stock.
A number of other equities research analysts have also weighed in on FL. B. Riley restated a neutral rating on shares of Foot Locker in a report on Wednesday, November 1st. Robert W. Baird lowered shares of Foot Locker from an outperform rating to a neutral rating in a report on Monday, August 21st. Piper Jaffray Companies restated a neutral rating on shares of Foot Locker in a report on Monday, August 21st. Telsey Advisory Group lowered their price objective on shares of Foot Locker from $36.00 to $34.00 and set a market perform rating for the company in a report on Monday, November 13th. Finally, Citigroup Inc. boosted their price objective on shares of Foot Locker from $40.00 to $47.00 and gave the stock a buy rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $53.26.
Shares of Foot Locker (NYSE:FL) opened at $40.54 on Monday. Foot Locker has a 1 year low of $28.42 and a 1 year high of $79.43. The stock has a market cap of $5,010.00, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.08 and a current ratio of 4.39.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $1.13 earnings per share. Foot Locker’s revenue for the quarter was down .8% on a year-over-year basis. equities research analysts anticipate that Foot Locker will post 4.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, January 19th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, January 18th. Foot Locker’s dividend payout ratio is presently 31.23%.
Several large investors have recently added to or reduced their stakes in FL. Renaissance Technologies LLC grew its position in shares of Foot Locker by 1,744.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,372,300 shares of the athletic footwear retailer’s stock worth $67,627,000 after buying an additional 1,297,900 shares during the period. Rockefeller Financial Services Inc. purchased a new stake in shares of Foot Locker in the 3rd quarter worth about $42,618,000. Bank of New York Mellon Corp grew its position in shares of Foot Locker by 32.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,591,593 shares of the athletic footwear retailer’s stock worth $126,495,000 after buying an additional 870,899 shares during the period. Koch Industries Inc. purchased a new stake in shares of Foot Locker in the 2nd quarter worth about $720,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Foot Locker by 65.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,819,210 shares of the athletic footwear retailer’s stock worth $89,651,000 after buying an additional 718,800 shares during the period. 87.42% of the stock is currently owned by hedge funds and other institutional investors.
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 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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