The Foot Locker Inc. (FL) Receives New Coverage from Analysts at Wedbush

The Foot Locker Inc. (FL) Receives New Coverage from Analysts at Wedbush

Stock analysts at Wedbush started coverage on shares of Foot Locker Inc. (NYSE:FL) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $80.00 price target on the stock. Wedbush’s price target indicates a potential upside of 8.21% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. B. Riley raised Foot Locker from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, August 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Foot Locker in a report on Wednesday, August 10th. Canaccord Genuity set a $75.00 target price on Foot Locker and gave the stock a “buy” rating in a report on Monday, August 15th. Piper Jaffray Cos. set a $67.00 target price on Foot Locker and gave the stock a “buy” rating in a report on Thursday, August 18th. Finally, Jefferies Group boosted their target price on Foot Locker from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Foot Locker currently has a consensus rating of “Buy” and an average price target of $74.32.

Shares of Foot Locker (NYSE:FL) traded down 0.35% on Wednesday, hitting $73.93. The company’s stock had a trading volume of 546,613 shares. Foot Locker has a 52 week low of $50.90 and a 52 week high of $74.74. The stock’s 50 day moving average is $69.14 and its 200-day moving average is $62.35. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 15.96 and a beta of 0.59.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, November 18th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $1.89 billion for the quarter. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. On average, equities research analysts anticipate that Foot Locker will post $4.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, January 11th. Foot Locker’s payout ratio is presently 23.71%.

In related news, Director Cheryl N. Turpin sold 10,000 shares of Foot Locker stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $69.16, for a total value of $691,600.00. Following the completion of the sale, the director now owns 40,858 shares of the company’s stock, valued at approximately $2,825,739.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lewis Phillip Kimble sold 43,479 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $65.40, for a total transaction of $2,843,526.60. Following the transaction, the chief executive officer now directly owns 26,131 shares of the company’s stock, valued at approximately $1,708,967.40. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FL. Metropolitan Life Insurance Co. NY raised its position in Foot Locker by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 130,019 shares of the company’s stock worth $8,386,000 after buying an additional 3,518 shares in the last quarter. A.R.T. Advisors LLC raised its position in Foot Locker by 166.3% in the first quarter. A.R.T. Advisors LLC now owns 29,944 shares of the company’s stock worth $1,931,000 after buying an additional 18,700 shares in the last quarter. Springbok Capital Management LLC raised its position in Foot Locker by 562.3% in the first quarter. Springbok Capital Management LLC now owns 8,000 shares of the company’s stock worth $516,000 after buying an additional 6,792 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Foot Locker by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 90,653 shares of the company’s stock worth $5,847,000 after buying an additional 6,422 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI raised its position in Foot Locker by 64.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 19,196 shares of the company’s stock worth $1,238,000 after buying an additional 7,523 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Foot Locker Company Profile

Related posts

Leave a Comment