Foot Locker, Inc. (FL) Announces Quarterly Dividend of $0.31
Foot Locker, Inc. (NYSE:FL) announced a quarterly dividend on Wednesday, August 16th, RTT News reports. Stockholders of record on Friday, October 13th will be paid a dividend of 0.31 per share by the athletic footwear retailer on Friday, October 27th. This represents a $1.24 annualized dividend and a dividend yield of 2.55%.
Foot Locker has increased its dividend payment by an average of 11.3% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Foot Locker has a dividend payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Foot Locker to earn $5.45 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 22.8%.
Foot Locker (NYSE FL) traded up 3.06% during trading on Wednesday, reaching $48.57. 5,584,618 shares of the company traded hands. The firm has a 50-day moving average price of $48.35 and a 200-day moving average price of $63.72. The company has a market capitalization of $6.38 billion, a P/E ratio of 9.97 and a beta of 0.68. Foot Locker has a 52 week low of $44.59 and a 52 week high of $79.43.
A number of equities analysts have weighed in on FL shares. B. Riley restated a “buy” rating and set a $79.00 price objective on shares of Foot Locker in a research report on Wednesday, April 26th. Jefferies Group LLC set a $80.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a research report on Saturday, May 20th. Canaccord Genuity set a $75.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a research report on Saturday, May 20th. Piper Jaffray Companies set a $60.00 price objective on shares of Foot Locker and gave the stock a “hold” rating in a research report on Saturday, May 20th. Finally, Zacks Investment Research upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $72.17.
ILLEGAL ACTIVITY NOTICE: “Foot Locker, Inc. (FL) Announces Quarterly Dividend of $0.31” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/16/foot-locker-inc-fl-announces-quarterly-dividend-of-0-31.html.
In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.40, for a total value of $332,640.00. Following the completion of the sale, the director now owns 8,964 shares of the company’s stock, valued at $532,461.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.73% of the company’s stock.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
Receive News & Ratings for Foot Locker Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker Inc. and related companies with MarketBeat.com's FREE daily email newsletter.