Foot Locker (FL) Given a $66.00 Price Target at Canaccord Genuity
A number of other research firms also recently commented on FL. Wedbush increased their price objective on shares of Foot Locker from $61.00 to $63.00 and gave the stock an outperform rating in a research note on Friday, June 8th. UBS Group began coverage on shares of Foot Locker in a research note on Thursday, June 21st. They set a neutral rating and a $59.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Foot Locker to $65.00 and gave the stock a buy rating in a research note on Friday, May 25th. TheStreet upgraded shares of Foot Locker from a c+ rating to a b- rating in a research note on Monday, June 18th. Finally, B. Riley increased their price objective on shares of Foot Locker to $52.00 and gave the stock a neutral rating in a research note on Tuesday, May 29th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $55.79.
Shares of Foot Locker stock traded up $0.95 during trading hours on Friday, reaching $50.70. 3,019,974 shares of the company’s stock were exchanged, compared to its average volume of 3,291,852. 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 current ratio of 3.89 and a quick ratio of 2.04. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.61 and a beta of 0.91.
The company also recently announced a quarterly dividend, which was paid on Friday, August 3rd. Investors of record on Friday, July 20th were paid a $0.345 dividend. The ex-dividend date was Thursday, July 19th. This represents a $1.38 annualized dividend and a yield of 2.72%. Foot Locker’s dividend payout ratio (DPR) is currently 33.58%.
In related news, CFO Lauren B. Peters sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $51.85, for a total value of $1,296,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of FL. Signaturefd LLC acquired a new stake in Foot Locker during the first quarter worth approximately $103,000. Synovus Financial Corp acquired a new stake in Foot Locker during the first quarter worth approximately $158,000. Rampart Investment Management Company LLC lifted its position in Foot Locker by 119.0% during the first quarter. Rampart Investment Management Company LLC now owns 3,626 shares of the athletic footwear retailer’s stock worth $165,000 after acquiring an additional 1,970 shares during the last quarter. Trilogy Capital Inc. acquired a new stake in Foot Locker during the first quarter worth approximately $172,000. Finally, Stephens Inc. AR acquired a new stake in Foot Locker during the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.
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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