Foot Locker, Inc. (FL) PT Lowered to $89.00

Foot Locker, Inc. (NYSE:FL) had its target price cut by investment analysts at Deutsche Bank AG to $89.00 in a research note issued on Friday. Deutsche Bank AG’s target price would suggest a potential upside of 22.25% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Piper Jaffray Companies set a $76.00 price target on Foot Locker and gave the stock a “hold” rating in a report on Monday, March 20th. Zacks Investment Research upgraded Foot Locker from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Monday, March 20th. Credit Suisse Group AG reiterated a “hold” rating and issued a $77.00 target price on shares of Foot Locker in a report on Wednesday, March 1st. FBR & Co set a $76.00 target price on Foot Locker and gave the company a “hold” rating in a report on Monday, February 27th. Finally, Canaccord Genuity upped their target price on Foot Locker from $83.00 to $87.00 and gave the company a “buy” rating in a report on Monday, February 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $79.74.

Analyst Recommendations for Foot Locker (NYSE:FL)

Shares of Foot Locker (NYSE:FL) opened at 72.80 on Friday. The stock has a 50 day moving average of $73.41 and a 200-day moving average of $70.90. The firm has a market capitalization of $9.55 billion, a P/E ratio of 14.83 and a beta of 0.57. Foot Locker has a 12-month low of $50.90 and a 12-month high of $79.43.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, February 24th. The company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.05. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 earnings per share. On average, equities research analysts predict that Foot Locker will post $5.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 13th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.70%. This is a boost from Foot Locker’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, April 11th. Foot Locker’s dividend payout ratio is presently 23.71%.

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In other news, Director Cheryl N. Turpin sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $76.17, for a total transaction of $152,340.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren B. Peters sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $77.51, for a total value of $1,937,750.00. Following the transaction, the chief financial officer now directly owns 144,597 shares in the company, valued at $11,207,713.47. The disclosure for this sale can be found here. 2.92% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Hodges Capital Management Inc. raised its position in shares of Foot Locker by 0.3% in the fourth quarter. Hodges Capital Management Inc. now owns 9,028 shares of the company’s stock worth $640,000 after buying an additional 28 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Foot Locker by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,757 shares of the company’s stock worth $550,000 after buying an additional 29 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Foot Locker by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 5,475 shares of the company’s stock worth $388,000 after buying an additional 32 shares during the last quarter. Aviance Capital Partners LLC raised its position in shares of Foot Locker by 0.3% in the third quarter. Aviance Capital Partners LLC now owns 15,688 shares of the company’s stock worth $1,062,000 after buying an additional 46 shares during the last quarter. Finally, Sii Investments Inc. WI raised its position in shares of Foot Locker by 0.4% in the fourth quarter. Sii Investments Inc. WI now owns 11,385 shares of the company’s stock worth $810,000 after buying an additional 47 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

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’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.

5 Day Chart for NYSE:FL

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