Insider Selling: Foot Locker EVP Sells 27,190 Shares of Stock (FL)
Foot Locker (NYSE:FL) EVP Robert W. Mchugh sold 27,190 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $56.12, for a total transaction of $1,525,902.80. Following the sale, the executive vice president now directly owns 168,887 shares in the company, valued at approximately $9,477,938. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Foot Locker (NYSE:FL) traded up 2.03% during mid-day trading on Tuesday, hitting $57.25. 2,465,421 shares of the company’s stock traded hands. Foot Locker has a 52 week low of $31.91 and a 52 week high of $56.53. The stock has a 50-day moving average of $50.36 and a 200-day moving average of $47.. The company has a market cap of $8.381 billion and a price-to-earnings ratio of 17.32.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, August 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. The company had revenue of $1.64 billion for the quarter. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that Foot Locker will post $3.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, October 15th.
A number of research firms have recently commented on FL. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Foot Locker in a research note on Tuesday, August 26th. They now have a $62.00 price target on the stock, up previously from $56.00. Separately, analysts at Telsey Advisory Group raised their price target on shares of Foot Locker from $52.00 to $61.00 in a research note on Monday, August 25th. They now have a “not rated” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Foot Locker from $56.00 to $59.00 in a research note on Monday, August 25th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.25.
Foot Locker, Inc is a global retailer of shoes and apparel, operating 3,473 primarily mall-based stores in the United States, Canada, Europe, Australia and New Zealand as of February 1, 2014.
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