BidaskClub cut shares of Foot Locker, Inc. (NYSE:FL) from a sell rating to a strong sell rating in a report issued on Tuesday, July 25th.
Several other research firms also recently weighed in on FL. Zacks Investment Research downgraded Foot Locker from a buy rating to a hold rating in a research report on Monday, April 24th. Cowen and Company cut their price objective on Foot Locker from $77.00 to $64.00 and set a market perform rating on the stock in a report on Monday, May 22nd. Deutsche Bank AG cut their price objective on Foot Locker from $88.00 to $74.00 and set a buy rating on the stock in a report on Monday, May 22nd. Piper Jaffray Companies set a $60.00 price objective on Foot Locker and gave the stock a hold rating in a report on Saturday, May 20th. Finally, ValuEngine downgraded Foot Locker from a buy rating to a hold rating in a report on Saturday, June 10th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $72.92.
Foot Locker (NYSE:FL) traded up 0.43% on Tuesday, hitting $49.30. The stock had a trading volume of 2,545,323 shares. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 10.11 and a beta of 0.68. Foot Locker has a one year low of $44.59 and a one year high of $79.43. The stock’s 50 day moving average is $48.35 and its 200 day moving average is $64.09.
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The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Wednesday, July 12th. Foot Locker’s payout ratio is 25.36%.
In other news, Director Jarobin Gilbert, Jr. sold 5,600 shares of Foot Locker stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total transaction of $332,640.00. Following the transaction, the director now owns 8,964 shares in the company, valued at $532,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FL. Thrivent Financial for Lutherans increased its position in shares of Foot Locker by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,700 shares of the athletic footwear retailer’s stock worth $333,000 after buying an additional 280 shares during the period. USA Financial Portformulas Corp purchased a new position in shares of Foot Locker during the fourth quarter worth approximately $443,000. Teachers Advisors LLC increased its position in shares of Foot Locker by 18.5% in the fourth quarter. Teachers Advisors LLC now owns 379,582 shares of the athletic footwear retailer’s stock worth $26,909,000 after buying an additional 59,167 shares during the period. Kentucky Retirement Systems purchased a new position in shares of Foot Locker during the fourth quarter worth approximately $696,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Foot Locker during the fourth quarter worth approximately $311,000. Hedge funds and other institutional investors own 94.45% 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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