Foot Locker, Inc. Declares Quarterly Dividend of $0.38 (NYSE:FL)
Foot Locker, Inc. (NYSE:FL) announced a quarterly dividend on Tuesday, November 19th, Zacks reports. Investors of record on Friday, January 17th will be given a dividend of 0.38 per share by the athletic footwear retailer on Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Thursday, January 16th.
Foot Locker has raised its dividend by an average of 12.2% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Foot Locker has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Foot Locker to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 28.8%.
FL stock opened at $39.10 on Wednesday. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.89 and a beta of 0.92. The company has a quick ratio of 0.84, a current ratio of 1.90 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $39.25 and a 200-day simple moving average of $40.95. Foot Locker has a 52 week low of $33.12 and a 52 week high of $68.00.
Several equities analysts have recently commented on FL shares. Susquehanna Bancshares cut shares of Foot Locker from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $47.00 to $41.00 in a research report on Friday, January 10th. Pivotal Research reaffirmed a “buy” rating and set a $54.00 price target on shares of Foot Locker in a research report on Monday, November 25th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price target on shares of Foot Locker in a research report on Friday, November 22nd. Raymond James reduced their price target on shares of Foot Locker from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Finally, B. Riley reaffirmed a “buy” rating and set a $60.00 price target on shares of Foot Locker in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Foot Locker presently has an average rating of “Buy” and an average price target of $54.30.
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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