Traders Sell Foot Locker, Inc. (FL) on Strength (FL)

Traders sold shares of Foot Locker, Inc. (NYSE:FL) on strength during trading hours on Wednesday. $1.90 million flowed into the stock on the tick-up and $5.76 million flowed out of the stock on the tick-down, for a money net flow of $3.86 million out of the stock. Of all equities tracked, Foot Locker had the 0th highest net out-flow for the day. Foot Locker traded up $0.25 for the day and closed at $36.58

Several brokerages have recently weighed in on FL. B. Riley restated a “buy” rating and issued a $79.00 price objective on shares of Foot Locker in a report on Friday, May 12th. Wedbush restated an “outperform” rating and issued a $83.00 price objective on shares of Foot Locker in a report on Wednesday, May 17th. Bank of America Corporation lowered Foot Locker from a “buy” rating to a “neutral” rating and cut their price objective for the company from $84.00 to $65.00 in a report on Friday, May 19th. Cowen and Company cut their price objective on Foot Locker from $77.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, May 22nd. Finally, Deutsche Bank AG cut their price objective on Foot Locker from $88.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $65.81.

The firm has a 50-day moving average of $42.76 and a 200 day moving average of $59.98. The stock has a market cap of $4.77 billion, a P/E ratio of 8.36 and a beta of 0.73.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by $0.28. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Foot Locker, Inc. will post $3.97 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, October 12th. Foot Locker’s dividend payout ratio is 28.57%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC raised its stake in shares of Foot Locker by 18.6% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,360 shares of the athletic footwear retailer’s stock valued at $104,000 after purchasing an additional 213 shares during the period. Acrospire Investment Management LLC increased its position in shares of Foot Locker by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 1,500 shares of the athletic footwear retailer’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Foot Locker by 5.6% in the first quarter. Van ECK Associates Corp now owns 2,047 shares of the athletic footwear retailer’s stock valued at $153,000 after acquiring an additional 109 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after acquiring an additional 714 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock valued at $197,000 after acquiring an additional 88 shares during the last quarter. 91.36% of the stock is currently owned by hedge funds and other institutional investors.

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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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