Foot Locker (NYSE:FL) had its price objective lifted by JPMorgan Chase & Co. from $42.00 to $51.00 in a research report released on Tuesday, May 29th. They currently have a neutral rating on the athletic footwear retailer’s stock.
FL has been the topic of a number of other research reports. Pivotal Research set a $57.00 price target on Foot Locker and gave the company a buy rating in a research note on Tuesday, February 27th. Jefferies Financial Group increased their price objective on Foot Locker to $65.00 and gave the stock a buy rating in a research report on Friday, May 25th. Buckingham Research reiterated a buy rating and set a $54.00 price objective on shares of Foot Locker in a research report on Wednesday, April 18th. ValuEngine cut Foot Locker from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Citigroup decreased their price target on Foot Locker from $54.00 to $46.00 and set a buy rating on the stock in a research report on Monday, March 5th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $56.24.
Shares of Foot Locker traded down $2.18, hitting $54.63, on Tuesday, according to MarketBeat Ratings. The company’s stock had a trading volume of 186,541 shares, compared to its average volume of 4,440,610. Foot Locker has a fifty-two week low of $28.42 and a fifty-two week high of $59.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.04 and a current ratio of 3.89. The firm has a market capitalization of $6.63 billion, a PE ratio of 13.70, a P/E/G ratio of 1.90 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 3rd. Stockholders of record on Friday, July 20th will be issued a dividend of $0.345 per share. The ex-dividend date is Thursday, July 19th. This represents a $1.38 annualized dividend and a dividend yield of 2.53%. Foot Locker’s dividend payout ratio is 33.58%.
In other news, CFO Lauren B. Peters sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $51.85, for a total transaction of $1,296,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in shares of Foot Locker during the first quarter valued at approximately $486,000. Trilogy Capital Inc. purchased a new position in Foot Locker in the first quarter worth $172,000. Levin Capital Strategies L.P. purchased a new position in Foot Locker in the first quarter worth $417,000. Wesbanco Bank Inc. purchased a new position in Foot Locker in the first quarter worth $1,829,000. Finally, CIBC World Markets Inc. boosted its position in Foot Locker by 67.6% in the first quarter. CIBC World Markets Inc. now owns 19,513 shares of the athletic footwear retailer’s stock worth $889,000 after purchasing an additional 7,867 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.
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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