Investment Analysts’ Weekly Ratings Changes for Foot Locker (FL)

Foot Locker (NYSE: FL) recently received a number of ratings updates from brokerages and research firms:

  • 5/23/2022 – Foot Locker had its price target raised by analysts at Morgan Stanley from $23.00 to $24.00. They now have an “underweight” rating on the stock.
  • 5/23/2022 – Foot Locker had its price target raised by analysts at Robert W. Baird from $30.00 to $32.00. They now have a “neutral” rating on the stock.
  • 5/23/2022 – Foot Locker had its price target lowered by analysts at B. Riley from $34.00 to $33.00.
  • 5/23/2022 – Foot Locker had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $30.00 to $32.00.
  • 5/17/2022 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $32.00 price target on the stock. According to Zacks, “Shares of Foot Locker have underperformed the industry in the past three months. Although it posted sturdy fourth-quarter fiscal 2021 results with top and bottom lines increasing year over year and beating the Zacks Consensus Estimate, a soft outlook for fiscal 2022 hurt investors’ sentiments. For the full fiscal, management expects a sales decline of 4-6% and a comparable sales decrease of 8-10% from the last fiscal year. Occupancy deleverage and supply-chain costs may shrink the gross margin 410-430 basis points. It envisions adjusted earnings per share of $4.25-$4.60 for the fiscal, implying a dip from $7.77 earned last year. Although it is taking initiatives to navigate the pandemic challenges, it is mindful of the ongoing uncertainties. It has been investing significantly to reinforce digital presence and direct-to-consumer business.”
  • 5/16/2022 – Foot Locker was downgraded by analysts at OTR Global to a “positive” rating.
  • 5/16/2022 – Foot Locker had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $32.00 to $30.00.
  • 3/31/2022 – Foot Locker is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/28/2022 – Foot Locker was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating. They now have a $34.00 price target on the stock, down previously from $42.00.

Shares of FL stock traded up $0.61 on Thursday, hitting $32.70. The stock had a trading volume of 2,325,068 shares, compared to its average volume of 3,025,059. Foot Locker, Inc. has a twelve month low of $26.36 and a twelve month high of $64.73. The firm has a market cap of $3.14 billion, a P/E ratio of 3.82, a PEG ratio of 0.21 and a beta of 1.28. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $30.03 and a two-hundred day moving average price of $38.41.

Foot Locker (NYSE:FLGet Rating) last announced its earnings results on Friday, May 20th. The athletic footwear retailer reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.05. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. Foot Locker had a net margin of 9.97% and a return on equity of 25.11%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 EPS. On average, analysts expect that Foot Locker, Inc. will post 4.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.89%. Foot Locker’s dividend payout ratio is 18.69%.

In other news, VP John A. Maurer sold 3,650 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $31.00, for a total transaction of $113,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds have recently modified their holdings of FL. Arrowstreet Capital Limited Partnership raised its holdings in shares of Foot Locker by 106.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,247,294 shares of the athletic footwear retailer’s stock valued at $102,611,000 after purchasing an additional 1,159,916 shares during the period. Renaissance Technologies LLC raised its holdings in Foot Locker by 5,122.3% in the 1st quarter. Renaissance Technologies LLC now owns 913,900 shares of the athletic footwear retailer’s stock valued at $27,106,000 after acquiring an additional 896,400 shares during the period. Norges Bank bought a new position in Foot Locker in the 4th quarter valued at about $26,008,000. Schonfeld Strategic Advisors LLC raised its holdings in Foot Locker by 2,617.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 443,000 shares of the athletic footwear retailer’s stock valued at $19,328,000 after acquiring an additional 426,700 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Foot Locker in the 3rd quarter valued at about $18,730,000. 83.43% of the stock is currently owned by institutional investors.

Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of 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.

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