Foot Locker, Inc. (NYSE:FL) has earned a consensus rating of “Buy” from the twenty-four analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $61.59.
Several equities analysts have commented on FL shares. Deutsche Bank Aktiengesellschaft increased their price target on Foot Locker from $72.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 23rd. JPMorgan Chase & Co. increased their price objective on Foot Locker from $58.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, August 16th. The Goldman Sachs Group started coverage on Foot Locker in a research report on Thursday, July 22nd. They issued a “buy” rating and a $70.00 price objective for the company. Cowen increased their price objective on Foot Locker from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, August 23rd. Finally, Telsey Advisory Group increased their price objective on Foot Locker from $64.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, August 23rd.
FL stock traded up $1.37 during midday trading on Thursday, hitting $51.95. 2,894,496 shares of the company traded hands, compared to its average volume of 1,731,034. Foot Locker has a twelve month low of $31.41 and a twelve month high of $66.71. The business has a 50 day simple moving average of $55.17 and a 200-day simple moving average of $58.22. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Friday, October 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, October 14th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. Foot Locker’s dividend payout ratio (DPR) is 28.47%.
In related news, CAO Giovanna Cipriano sold 10,000 shares of Foot Locker stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $62.40, for a total value of $624,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Vesa Equity Investment S.A R.L sold 115,954 shares of Foot Locker stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $63.71, for a total value of $7,387,429.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,697 shares of company stock valued at $12,436,587. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. MUFG Securities EMEA plc bought a new position in Foot Locker during the first quarter worth about $1,631,000. GSA Capital Partners LLP lifted its stake in Foot Locker by 72.7% in the 2nd quarter. GSA Capital Partners LLP now owns 33,618 shares of the athletic footwear retailer’s stock valued at $2,072,000 after acquiring an additional 14,151 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Foot Locker in the 2nd quarter valued at approximately $1,306,000. Stifel Financial Corp bought a new stake in Foot Locker in the 1st quarter valued at approximately $236,000. Finally, IndexIQ Advisors LLC bought a new stake in Foot Locker in the 1st quarter valued at approximately $394,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.
About Foot Locker
Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.
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