UBS Group initiated coverage on shares of Foot Locker (NYSE:FL) in a research note issued to investors on Thursday, www.benzinga.com reports. The firm issued a neutral rating and a $59.00 price objective on the athletic footwear retailer’s stock.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity set a $66.00 target price on shares of Foot Locker and gave the company a buy rating in a research report on Tuesday, May 29th. Pivotal Research set a $64.00 target price on shares of Foot Locker and gave the company a buy rating in a research report on Tuesday, May 29th. Buckingham Research dropped their target price on shares of Foot Locker from $57.00 to $53.00 and set a buy rating on the stock in a research report on Monday, March 5th. ValuEngine downgraded shares of Foot Locker from a sell rating to a strong sell rating in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group began coverage on shares of Foot Locker in a research note on Monday, March 12th. They set an outperform rating and a $50.00 price target for the company. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $56.24.
NYSE:FL traded down $0.89 during mid-day trading on Thursday, hitting $55.92. 32,379 shares of the company’s stock were exchanged, compared to its average volume of 4,440,610. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.89 and a quick ratio of 2.04. Foot Locker has a fifty-two week low of $28.42 and a fifty-two week high of $59.40. The company has a market cap of $6.63 billion, a PE ratio of 13.70, a P/E/G ratio of 1.90 and a beta of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 3rd. Investors of record on Friday, July 20th will be given a dividend of $0.345 per share. The ex-dividend date is Thursday, July 19th. This represents a $1.38 annualized dividend and a yield of 2.47%. Foot Locker’s payout ratio is currently 33.58%.
In related news, CFO Lauren B. Peters sold 25,000 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $51.85, for a total transaction of $1,296,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Foot Locker in the first quarter worth approximately $486,000. Trilogy Capital Inc. purchased a new position in shares of Foot Locker in the 1st quarter worth about $172,000. Levin Capital Strategies L.P. purchased a new position in shares of Foot Locker in the 1st quarter worth about $417,000. Wesbanco Bank Inc. purchased a new position in shares of Foot Locker in the 1st quarter worth about $1,829,000. Finally, CIBC World Markets Inc. raised its position in shares of Foot Locker by 67.6% in the 1st quarter. CIBC World Markets Inc. now owns 19,513 shares of the athletic footwear retailer’s stock worth $889,000 after purchasing an additional 7,867 shares during the last quarter. Institutional investors own 93.20% of the company’s stock.
Foot Locker Company Profile
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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