Foot Locker, Inc. (FL) to Issue $0.31 Quarterly Dividend
Foot Locker, Inc. (NYSE:FL) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Stockholders of record on Friday, January 19th will be given a dividend of 0.31 per share by the athletic footwear retailer on Friday, February 2nd. This represents a $1.24 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, January 18th.
Foot Locker has raised its dividend by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 7 years. Foot Locker has a dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Foot Locker to earn $4.07 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 30.5%.
Foot Locker (FL) opened at $46.96 on Wednesday. The company has a market capitalization of $5,751.18, a PE ratio of 11.80, a PEG ratio of 2.32 and a beta of 0.82. The company has a quick ratio of 2.09, a current ratio of 4.41 and a debt-to-equity ratio of 0.05. Foot Locker has a twelve month low of $28.42 and a twelve month high of $77.86.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.82 billion. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. research analysts expect that Foot Locker will post 4.08 EPS for the current year.
In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of Foot Locker stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total transaction of $499,392.18. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,603,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.73% of the company’s stock.
A number of research analysts recently issued reports on the company. Cowen restated a “hold” rating and set a $37.00 price target on shares of Foot Locker in a report on Thursday, September 21st. ValuEngine upgraded Foot Locker from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Canaccord Genuity restated a “hold” rating and set a $39.00 price target on shares of Foot Locker in a report on Friday, October 20th. Buckingham Research downgraded Foot Locker from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Foot Locker from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.82.
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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