Foot Locker (NYSE:FL – Get Rating) had its price objective cut by Morgan Stanley from $33.00 to $30.00 in a research note issued to investors on Monday, The Fly reports.
Several other brokerages also recently commented on FL. BTIG Research reduced their target price on shares of Foot Locker from $53.00 to $42.00 in a research note on Sunday. Bank of America reduced their target price on shares of Foot Locker from $45.00 to $36.00 in a research note on Sunday. Robert W. Baird reduced their target price on shares of Foot Locker from $40.00 to $32.00 in a research note on Monday. Citigroup downgraded shares of Foot Locker from a buy rating to a neutral rating and reduced their target price for the company from $48.00 to $30.00 in a research note on Monday. Finally, Barclays reduced their target price on shares of Foot Locker from $42.00 to $31.00 in a research note on Sunday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $38.80.
Foot Locker Trading Down 8.5 %
Shares of FL stock opened at $27.63 on Monday. Foot Locker has a 1 year low of $23.85 and a 1 year high of $47.22. The firm’s fifty day simple moving average is $40.05 and its 200 day simple moving average is $39.61. The firm has a market capitalization of $2.58 billion, a P/E ratio of 10.71 and a beta of 1.23. The company has a current ratio of 1.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14.
Foot Locker Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $1.60 annualized dividend and a dividend yield of 5.79%. Foot Locker’s dividend payout ratio is currently 62.02%.
Hedge Funds Weigh In On Foot Locker
Hedge funds have recently made changes to their positions in the business. Tower Bridge Advisors bought a new position in shares of Foot Locker during the 4th quarter worth approximately $227,000. Toronto Dominion Bank acquired a new stake in shares of Foot Locker in the 3rd quarter valued at approximately $4,113,000. Autumn Glory Partners LLC acquired a new stake in shares of Foot Locker in the 4th quarter valued at approximately $441,000. Monarch Partners Asset Management LLC acquired a new stake in shares of Foot Locker in the 4th quarter valued at approximately $1,547,000. Finally, Citigroup Inc. boosted its holdings in shares of Foot Locker by 6.0% in the 4th quarter. Citigroup Inc. now owns 160,800 shares of the athletic footwear retailer’s stock valued at $6,077,000 after buying an additional 9,150 shares during the last quarter. 95.06% of the stock is owned by institutional investors.
Foot Locker Company Profile
Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.
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