Broker Foot Locker, Inc. (NYSE:FL) (NYSE:FL)

Foot Locker, Inc. (NYSE:FL – Receive Rating) – Seaport Race PTN cut its FY 2024 EPS estimates for Foot Locker in a research report issued on Tuesday, November 15. Seaport Res Ptn analyst M. Kumetz now estimates that the athletic footwear retailer will earn $3.64 per share for the year, down from his previous estimate of $3.99. The consensus estimate for Foot Locker’s current full year earnings per share is $4.31.

Foot Locker (NYSE:FL – Receive Rating) last posted its quarterly earnings results on Friday, August 19. The athletic footwear retailer reported $1.10 earnings per share for the quarter, beating consensus estimates of $0.75 by $0.35. The company’s revenue during the quarter was $2.07 billion, beating analysts’ estimates of $2.07 billion. Foot Locker had a net margin of 5.56% and a return on equity of 19.33%. The firm’s revenue for the quarter was down 9.2% on a year-on-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share.

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Other equity analysts have also issued research reports on the stock. Robert W. Baird raised his target price on shares of Foot Locker from $32.00 to $40.00 in a research report on Monday, August 22. StockNews.com upgraded shares of Foot Locker from a “Sell” rating to a “Hold” rating in a research report on Thursday. Credit Suisse Group cut its target price on shares of Foot Locker to $38.00 in a research report on Thursday. UBS Group cut its target price on shares of Foot Locker to $34.00 in a research report on Wednesday. Finally, Telsey Advisory Group reduced its target price on shares of Foot Locker from $42.00 to $37.00 and set a “market perform” rating for the company in a research report on Thursday, October 13. Twenty analysts have a hold rating on the stock and three have a buy rating on the stock. Foot Locker currently has an average rating of “Hold” and a consensus price target of $40.00, based on data from MarketBeat.com.

foot locker price display

FL opened at $33.00 on Thursday. The company has a debt-to-equity ratio of 0.14, quick ratio of 0.42 and current ratio of 1.46. The firm has a market cap of $3.08 billion, a P/E ratio of 6.73, a PEG ratio of 0.24, and a beta of 1.24. Foot Locker has a 52 week low of $23.85 and a 52 week high of $57.76. The firm’s 50-day moving average is $33.33 and the 200-day moving average is $31.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Teacher’s Retirement System of Texas boosted its stake in Foot Locker shares by 5.8% in the first quarter. Teachers Retirement System of Texas now owns 19,227 shares of the athletic footwear retailer valued at $570,000 after purchasing an additional 1,048 shares during the period. Swiss National Bank boosted its stake in Foot Locker shares by 7.8% in the first quarter. The Swiss National Bank now owns 220,900 shares of the athletic footwear retailer valued at $6,552,000 after buying an additional 15,900 shares during the period. Parallels Advisors LLC increased its stake in Foot Locker shares by 378.1% in the first quarter. Parallel Advisors LLC now owns 3,289 shares of the athletic footwear retailer worth $100,000 after purchasing an additional 2,601 shares during the period. ProShares Advisors LLC increased its stake in Foot Locker shares by 101.8% in the second quarter. ProShares Advisors LLC now owns 14,129 shares of the athletic footwear retailer valued at $356,000 after purchasing an additional 7,128 shares during the period. Finally, Independent Advisory Alliance increased its stake in Foot Locker shares to 48.4% in the second quarter. Independent Advisor Alliance now owns 16,062 shares of the athletic footwear retailer valued at $406,000 after purchasing an additional 5,237 shares during the period. 98.06% of the stock is owned by hedge funds and other institutional investors.

Insider buying and selling on Foot Locker

In other news, major shareholder Vesa Equity Investment SA RL sold 9,739 shares of the business’s stock in a transaction dated Tuesday, Sep 20. Shares were sold at an average price of $39.03 for a total value of $380,113.17. Following the completion of the sale, the insider now directly owns 12,740,578 shares in the company, valued at approximately $497,264,759.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Vesa Equity Investment SA RL sold 9,739 shares of the business’s stock in a transaction dated Tuesday, Sep 20. Shares were sold at an average price of $39.03 for a total value of $380,113.17. Following the completion of the sale, the insider now directly owns 12,740,578 shares in the company, valued at approximately $497,264,759.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Additionally, SVP Todd Greiner sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 3. The stock was sold at an average price of $30.99, for a total transaction of $77,475.00. Following the completion of the sale, the senior vice president now owns 8,421 shares of the company’s stock, valued at $260,966.79. Disclosure of this sale can be found here. Insiders sold a total of 557,380 shares of company stock valued at $18,395,121 over the past three months. 3.00% of the stock is owned by insiders.

Foot Locker declares dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. A dividend of $0.40 per share will be paid to shareholders of record on Friday, January 13. The ex-dividend date for this dividend is Thursday, January 12. This represents a $1.60 annual dividend and a yield of 4.85%. Foot Locker’s payout ratio currently stands at 32.65%.

foot locker company profile

(get rating)

Foot Locker, Inc., through its subsidiaries, operates as an athletic footwear and apparel retailer. The company retails athletic footwear, apparel, accessories, equipment and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Atmos, WSS, FootAction and SideStep brand names.

Further reading

Earnings History and Projections for Foot Locker (NYSE:FL)

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