Foot Locker Inc. (NYSE:FL) Director Cheryl N. Turpin sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $69.16, for a total transaction of $691,600.00. Following the sale, the director now owns 40,858 shares in the company, valued at approximately $2,825,739.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Foot Locker Inc. (NYSE:FL) opened at 67.89 on Tuesday. Foot Locker Inc. has a 52 week low of $50.90 and a 52 week high of $71.00. The stock has a 50 day moving average of $66.90 and a 200-day moving average of $60.81. The firm has a market cap of $9.05 billion, a PE ratio of 16.89 and a beta of 0.61.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, August 19th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.04. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 billion. Foot Locker had a net margin of 7.35% and a return on equity of 23.99%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts expect that Foot Locker Inc. will post $4.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.10 dividend on an annualized basis and a yield of 1.62%. Foot Locker’s payout ratio is 27.23%.
Several research analysts have weighed in on FL shares. Jefferies Group reiterated a “buy” rating and issued a $73.00 price objective on shares of Foot Locker in a research note on Wednesday, June 29th. Piper Jaffray Cos. set a $67.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research note on Thursday, August 18th. B. Riley upgraded shares of Foot Locker from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, August 12th. Deutsche Bank AG reiterated a “buy” rating on shares of Foot Locker in a research note on Wednesday, August 10th. Finally, Canaccord Genuity set a $75.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research note on Monday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $72.87.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Foot Locker by 15.9% in the second quarter. Vanguard Group Inc. now owns 12,566,107 shares of the company’s stock worth $689,377,000 after buying an additional 1,721,731 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Foot Locker during the second quarter worth $74,928,000. Fiera Capital Corp increased its position in shares of Foot Locker by 1,328.7% in the second quarter. Fiera Capital Corp now owns 1,280,095 shares of the company’s stock worth $70,226,000 after buying an additional 1,190,495 shares during the last quarter. Investec Asset Management LTD purchased a new position in shares of Foot Locker during the first quarter worth $64,668,000. Finally, Ameriprise Financial Inc. increased its position in shares of Foot Locker by 68.5% in the second quarter. Ameriprise Financial Inc. now owns 2,438,743 shares of the company’s stock worth $133,786,000 after buying an additional 991,321 shares during the last quarter. Institutional investors and hedge funds own 98.09% of the company’s stock.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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