Canaccord Genuity set a $63.00 price target on Foot Locker (NYSE:FL) in a research report report published on Monday morning. The brokerage currently has a buy rating on the athletic footwear retailer’s stock.
A number of other brokerages have also commented on FL. Wedbush increased their price objective on Foot Locker from $61.00 to $63.00 and gave the company an outperform rating in a report on Friday, June 8th. UBS Group assumed coverage on Foot Locker in a report on Thursday, June 21st. They set a neutral rating and a $59.00 price objective on the stock. TheStreet raised Foot Locker from a c+ rating to a b- rating in a report on Monday, June 18th. B. Riley increased their price objective on Foot Locker to $52.00 and gave the company a neutral rating in a report on Tuesday, May 29th. Finally, Buckingham Research increased their price objective on Foot Locker from $54.00 to $61.00 and gave the company a buy rating in a report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $56.33.
Shares of NYSE FL opened at $50.12 on Monday. The company has a current ratio of 3.50, a quick ratio of 1.76 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.51 billion, a PE ratio of 11.08, a P/E/G ratio of 1.41 and a beta of 0.82. Foot Locker has a 52 week low of $28.42 and a 52 week high of $59.40.
Foot Locker (NYSE:FL) last issued its quarterly earnings data on Friday, August 24th. The athletic footwear retailer reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.76 billion. Foot Locker had a return on equity of 20.67% and a net margin of 3.88%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. research analysts expect that Foot Locker will post 4.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, October 19th will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, October 18th. Foot Locker’s dividend payout ratio (DPR) is currently 33.58%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. acquired a new stake in Foot Locker in the 2nd quarter valued at approximately $2,658,000. Northern Trust Corp lifted its position in shares of Foot Locker by 2.1% in the 2nd quarter. Northern Trust Corp now owns 1,762,660 shares of the athletic footwear retailer’s stock worth $92,804,000 after acquiring an additional 36,981 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Foot Locker by 61.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock worth $220,000 after acquiring an additional 1,592 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Foot Locker by 21.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 57,352 shares of the athletic footwear retailer’s stock worth $3,020,000 after acquiring an additional 9,963 shares during the period. Finally, Nomura Holdings Inc. lifted its position in shares of Foot Locker by 78.0% in the 2nd quarter. Nomura Holdings Inc. now owns 16,911 shares of the athletic footwear retailer’s stock worth $890,000 after acquiring an additional 7,411 shares during the period. 96.75% of the stock is currently owned by hedge funds and other 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.
Featured Article: Book Value Per Share – BVPS
Receive News & Ratings for Foot Locker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker and related companies with MarketBeat.com's FREE daily email newsletter.