Investors Research Corp bought a new position in shares of Foot Locker, Inc. (NYSE:FL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 500 shares of the athletic footwear retailer’s stock, valued at approximately $30,000.
Other large investors have also recently added to or reduced their stakes in the company. Bremer Trust National Association bought a new position in Foot Locker during the 4th quarter worth approximately $26,000. CWM LLC lifted its holdings in Foot Locker by 264.1% during the 1st quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Lindbrook Capital LLC bought a new position in Foot Locker during the 4th quarter worth approximately $38,000. Executive Wealth Management LLC bought a new position in Foot Locker during the 4th quarter worth approximately $56,000. Finally, Financial Gravity Companies Inc. bought a new position in Foot Locker during the 4th quarter worth approximately $74,000. 97.88% of the stock is currently owned by institutional investors.
In other news, CEO Richard A. Johnson sold 80,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Shares of Foot Locker stock opened at $59.34 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.63 and a current ratio of 3.30. The company has a market cap of $6.66 billion, a PE ratio of 12.60, a P/E/G ratio of 1.21 and a beta of 0.76. Foot Locker, Inc. has a twelve month low of $40.02 and a twelve month high of $68.00.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Foot Locker had a return on equity of 21.92% and a net margin of 6.81%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. As a group, research analysts expect that Foot Locker, Inc. will post 5.2 EPS for the current year.
Foot Locker announced that its board has approved a stock repurchase plan on Wednesday, February 20th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the athletic footwear retailer to repurchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Thursday, April 18th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Foot Locker’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, April 17th. Foot Locker’s dividend payout ratio is presently 32.27%.
A number of research analysts have commented on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 target price on shares of Foot Locker in a report on Thursday, April 11th. Zacks Investment Research raised Foot Locker from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Monday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $73.00 target price on shares of Foot Locker in a report on Tuesday, March 26th. Credit Suisse Group increased their target price on Foot Locker from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, March 29th. Finally, ValuEngine raised Foot Locker from a “hold” rating to a “buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $65.85.
About Foot Locker
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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