Imperial Capital reiterated their outperform rating on shares of Foot Locker (NYSE:FL) in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $70.00 price objective on the athletic footwear retailer’s stock, up from their prior price objective of $66.00.
Other equities research analysts have also issued reports about the stock. Credit Suisse Group lifted their target price on shares of Foot Locker from $63.00 to $70.00 and gave the company an outperform rating in a research report on Monday, February 25th. Zacks Investment Research lowered shares of Foot Locker from a buy rating to a hold rating in a research report on Tuesday, December 18th. Piper Jaffray Companies set a $51.00 target price on shares of Foot Locker and gave the company a hold rating in a research report on Wednesday, November 21st. TheStreet upgraded shares of Foot Locker from a c rating to a b- rating in a research report on Tuesday, November 20th. Finally, Pivotal Research reiterated a buy rating and set a $64.00 target price on shares of Foot Locker in a research report on Monday, November 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $64.24.
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Shares of Foot Locker stock opened at $63.15 on Monday. Foot Locker has a 1 year low of $40.02 and a 1 year high of $68.00. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 1.54.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Foot Locker had a net margin of 4.24% and a return on equity of 21.01%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business posted $1.26 earnings per share. Foot Locker’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts predict that Foot Locker will post 4.91 earnings per share for the current fiscal year.
Foot Locker declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 20th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the athletic footwear retailer to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Thursday, April 18th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from Foot Locker’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, April 17th. Foot Locker’s payout ratio is presently 29.30%.
In related news, VP John A. Maurer sold 2,041 shares of Foot Locker stock in a transaction on Friday, December 28th. The shares were sold at an average price of $52.00, for a total value of $106,132.00. Following the transaction, the vice president now directly owns 18,540 shares of the company’s stock, valued at $964,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard A. Johnson sold 80,000 shares of Foot Locker stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $60.01, for a total transaction of $4,800,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,082 shares of company stock worth $5,013,064. 2.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bremer Trust National Association purchased a new position in shares of Foot Locker in the fourth quarter worth $26,000. Lindbrook Capital LLC purchased a new position in shares of Foot Locker in the fourth quarter worth $38,000. Executive Wealth Management LLC purchased a new position in shares of Foot Locker in the fourth quarter worth $56,000. Financial Gravity Companies Inc. purchased a new position in shares of Foot Locker in the fourth quarter worth $74,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Foot Locker in the fourth quarter worth $79,000. 98.51% of the stock is currently owned by institutional investors.
Foot Locker Company Profile
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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