Foot Locker, Inc. (NYSE:FL) – Research analysts at Oppenheimer boosted their Q3 2019 earnings per share estimates for shares of Foot Locker in a report released on Tuesday. Oppenheimer analyst A. Andreeva now expects that the athletic footwear retailer will earn $1.14 per share for the quarter, up from their previous forecast of $0.93. Oppenheimer also issued estimates for Foot Locker’s FY2019 earnings at $4.74 EPS.
Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity set a $67.00 price target on Foot Locker and gave the company a “buy” rating in a research note on Friday. Telsey Advisory Group raised Foot Locker from a “market perform” rating to an “outperform” rating and increased their price target for the company from $44.00 to $56.00 in a research note on Friday. Zacks Investment Research cut Foot Locker from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Buckingham Research raised Foot Locker from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Friday, January 5th. Finally, Robert W. Baird reissued a “hold” rating and issued a $52.00 price target on shares of Foot Locker in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Foot Locker has an average rating of “Hold” and a consensus price target of $54.34.
Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be given a dividend of $0.31 per share. The ex-dividend date is Thursday, January 18th. This represents a $1.24 annualized dividend and a dividend yield of 2.47%. Foot Locker’s payout ratio is 31.16%.
In related news, Director Matthew M. Mckenna sold 10,899 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total transaction of $499,392.18. Following the sale, the director now owns 35,000 shares in the company, valued at approximately $1,603,700. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. D.A. Davidson & CO. boosted its holdings in Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock worth $105,000 after acquiring an additional 714 shares in the last quarter. Smithfield Trust Co. boosted its holdings in Foot Locker by 276.2% in the third quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after acquiring an additional 2,348 shares in the last quarter. Assetmark Inc. boosted its holdings in Foot Locker by 205.0% in the third quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after acquiring an additional 2,577 shares in the last quarter. Exane Derivatives boosted its holdings in Foot Locker by 110,475.0% in the third quarter. Exane Derivatives now owns 4,423 shares of the athletic footwear retailer’s stock worth $156,000 after acquiring an additional 4,419 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in Foot Locker in the fourth quarter worth approximately $218,000. Institutional investors and hedge funds own 89.91% of the company’s stock.
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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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