Deutsche Bank AG cut shares of Foot Locker, Inc. (NYSE:FL) from a buy rating to a hold rating in a research note issued to investors on Friday. Deutsche Bank AG currently has $72.00 price target on the athletic footwear retailer’s stock.
A number of other research firms have also issued reports on FL. Zacks Investment Research lowered shares of Foot Locker from a buy rating to a hold rating in a report on Monday, April 24th. Cowen and Company dropped their price objective on shares of Foot Locker from $77.00 to $64.00 and set a market perform rating for the company in a report on Monday, May 22nd. BidaskClub raised shares of Foot Locker from a strong sell rating to a sell rating in a report on Monday, July 31st. Piper Jaffray Companies set a $60.00 price objective on shares of Foot Locker and gave the company a hold rating in a report on Saturday, May 20th. Finally, ValuEngine lowered shares of Foot Locker from a buy rating to a hold rating in a report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $68.09.
Foot Locker (NYSE:FL) opened at 31.82 on Friday. The company’s 50-day moving average is $47.42 and its 200 day moving average is $62.92. Foot Locker has a 1-year low of $31.72 and a 1-year high of $79.43. The stock has a market capitalization of $4.20 billion, a PE ratio of 7.35 and a beta of 0.68.
Foot Locker (NYSE:FL) last released its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.28. Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the company earned $0.94 EPS. Foot Locker’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts predict that Foot Locker will post $4.57 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 annualized dividend and a dividend yield of 3.90%. Foot Locker’s dividend payout ratio is presently 28.57%.
In other news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.40, for a total transaction of $332,640.00. Following the sale, the director now owns 8,964 shares of the company’s stock, valued at $532,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.73% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in FL. Alps Advisors Inc. raised its stake in Foot Locker by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,312 shares of the athletic footwear retailer’s stock worth $311,000 after buying an additional 17 shares during the last quarter. Somerset Trust Co raised its stake in Foot Locker by 0.7% in the second quarter. Somerset Trust Co now owns 6,100 shares of the athletic footwear retailer’s stock worth $300,000 after buying an additional 41 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its stake in Foot Locker by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 14,090 shares of the athletic footwear retailer’s stock worth $694,000 after buying an additional 61 shares during the last quarter. Commerce Bank raised its stake in Foot Locker by 1.3% in the first quarter. Commerce Bank now owns 6,200 shares of the athletic footwear retailer’s stock worth $464,000 after buying an additional 77 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Foot Locker by 1.9% in the first quarter. IFP Advisors Inc now owns 4,580 shares of the athletic footwear retailer’s stock worth $343,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 93.49% of the company’s stock.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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