Foot Locker (FL) Shares Gap Down After Insider Selling
Foot Locker, Inc. (NYSE:FL) shares gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $45.40, but opened at $46.09. Foot Locker shares last traded at $53.34, with a volume of 503074 shares traded.
Specifically, Director Matthew M. Mckenna sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $50.81, for a total transaction of $355,670.00. Following the sale, the director now directly owns 30,459 shares in the company, valued at $1,547,621.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.
A number of analysts have recently issued reports on the company. Zacks Investment Research restated a “buy” rating and set a $52.00 price objective on shares of Foot Locker in a research report on Tuesday, November 13th. Wells Fargo & Co set a $64.00 price target on Foot Locker and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity set a $64.00 price target on Foot Locker and gave the company a “buy” rating in a research report on Wednesday. B. Riley set a $51.00 price target on Foot Locker and gave the company a “neutral” rating in a research report on Wednesday. Finally, Telsey Advisory Group upped their price target on Foot Locker from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $58.91.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Tuesday, November 20th. The athletic footwear retailer reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. Foot Locker had a return on equity of 20.67% and a net margin of 3.88%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, equities research analysts anticipate that Foot Locker, Inc. will post 4.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Friday, January 18th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, January 17th. Foot Locker’s dividend payout ratio is currently 33.58%.
Institutional investors have recently bought and sold shares of the business. Zacks Investment Management boosted its stake in Foot Locker by 5.4% in the second quarter. Zacks Investment Management now owns 28,220 shares of the athletic footwear retailer’s stock worth $1,486,000 after purchasing an additional 1,440 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas boosted its stake in Foot Locker by 21.7% in the second quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 12,996 shares of the athletic footwear retailer’s stock worth $684,000 after purchasing an additional 2,321 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Foot Locker by 21.0% in the second quarter. Public Employees Retirement System of Ohio now owns 57,352 shares of the athletic footwear retailer’s stock worth $3,020,000 after purchasing an additional 9,963 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Foot Locker by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock worth $113,606,000 after purchasing an additional 453,209 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Foot Locker by 24.0% in the third quarter. Empowered Funds LLC now owns 66,349 shares of the athletic footwear retailer’s stock worth $3,359,000 after purchasing an additional 12,853 shares in the last quarter.
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Foot Locker Company Profile (NYSE:FL)
Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.
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