Foot Locker (NYSE:FL) Price Target Lowered to $32.00 at Robert W. Baird

Foot Locker (NYSE:FL – Get Rating) had its target price trimmed by Robert W. Baird from $40.00 to $32.00 in a research note issued to investors on Monday morning, The Fly reports.

Other analysts have also issued reports about the stock. Citigroup lowered shares of Foot Locker from a buy rating to a neutral rating and reduced their price objective for the stock from $48.00 to $30.00 in a research report on Monday. Guggenheim reissued a buy rating and issued a $60.00 price objective on shares of Foot Locker in a research report on Tuesday, March 21st. UBS Group lowered shares of Foot Locker from a neutral rating to a sell rating in a research report on Wednesday, March 29th. Credit Suisse Group reissued an outperform rating and issued a $62.00 price objective on shares of Foot Locker in a research report on Tuesday, March 21st. Finally, Telsey Advisory Group raised shares of Foot Locker from a market perform rating to an outperform rating and raised their target price for the stock from $39.00 to $50.00 in a research report on Thursday, March 16th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $38.80.

Foot Locker Stock Down 1.3 %

Shares of NYSE FL opened at $25.82 on Monday. The firm’s 50-day moving average price is $39.14 and its 200-day moving average price is $39.39. The company has a current ratio of 1.62, a quick ratio of 0.46 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 10.01 and a beta of 1.23. Foot Locker has a 12-month low of $23.85 and a 12-month high of $47.22.

Foot Locker (NYSE:FL – Get Rating) last announced its earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). Foot Locker had a net margin of 2.88% and a return on equity of 11.77%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Foot Locker will post 2.1 EPS for the current fiscal year.

Foot Locker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $1.60 annualized dividend and a yield of 6.20%. Foot Locker’s dividend payout ratio (DPR) is 62.02%.

Institutional Investors Weigh In On Foot Locker

Institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new stake in shares of Foot Locker during the fourth quarter worth $39,000. Advisors Asset Management Inc. lifted its stake in shares of Foot Locker by 68.3% during the first quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock worth $40,000 after buying an additional 542 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Foot Locker by 73.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,337 shares of the athletic footwear retailer’s stock worth $53,000 after buying an additional 568 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Foot Locker during the first quarter worth $56,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Foot Locker during the first quarter worth $66,000. 95.06% of the stock is currently owned by institutional investors and hedge funds.

Foot Locker Company Profile

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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.