Foot Locker, Inc. (NYSE:FL) Rating Lowered to Strong Sell at BidaskClub
BidaskClub downgraded shares of Foot Locker, Inc. (NYSE:FL) from a sell rating to a strong sell rating in a research report report published on Tuesday.
Several other research analysts have also recently commented on the company. Deutsche Bank AG set a $72.00 target price on Foot Locker and gave the stock a buy rating in a research report on Monday, July 17th. Zacks Investment Research cut Foot Locker from a hold rating to a sell rating in a report on Friday, July 7th. Oppenheimer Holdings, Inc. began coverage on Foot Locker in a report on Friday, July 7th. They set a market perform rating for the company. TheStreet cut Foot Locker from a b- rating to a c+ rating in a report on Friday, June 30th. Finally, Barclays PLC reissued an overweight rating and set a $80.00 price objective on shares of Foot Locker in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Foot Locker presently has a consensus rating of Buy and a consensus price target of $74.36.
Shares of Foot Locker (NYSE FL) traded down 2.60% during mid-day trading on Tuesday, hitting $46.02. 2,259,968 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $49.33 and a 200-day moving average price of $65.57. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 9.44 and a beta of 0.70. Foot Locker has a 52 week low of $44.59 and a 52 week high of $79.43.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were given a $0.31 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a yield of 2.69%. Foot Locker’s payout ratio is 25.36%.
In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of Foot Locker stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total value of $332,640.00. Following the completion of the sale, the director now directly owns 8,964 shares in the company, valued at $532,461.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Foot Locker by 130.0% in the first quarter. JPMorgan Chase & Co. now owns 698,340 shares of the athletic footwear retailer’s stock worth $52,244,000 after buying an additional 394,688 shares during the last quarter. Todd Asset Management LLC raised its stake in shares of Foot Locker by 34.3% in the first quarter. Todd Asset Management LLC now owns 582,371 shares of the athletic footwear retailer’s stock worth $43,567,000 after buying an additional 148,889 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Foot Locker by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 138,739 shares of the athletic footwear retailer’s stock worth $10,382,000 after buying an additional 8,617 shares during the last quarter. Omega Advisors Inc. purchased a new stake in shares of Foot Locker during the first quarter worth approximately $11,222,000. Finally, BlackRock Inc. raised its stake in shares of Foot Locker by 2,189.3% in the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock worth $685,553,000 after buying an additional 8,763,641 shares during the last quarter. Hedge funds and other institutional investors own 93.57% 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 is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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