Foot Locker, Inc. Plans Quarterly Dividend of $0.31 (FL)
Foot Locker, Inc. (NYSE:FL) announced a quarterly dividend on Wednesday, November 15th, RTT News reports. Stockholders of record on Friday, January 19th will be given a dividend of 0.31 per share by the athletic footwear retailer on Friday, February 2nd. This represents a $1.24 annualized dividend and a dividend yield of 4.13%.
Foot Locker has raised its dividend payment by an average of 11.3% annually over the last three years and has increased its dividend every year for the last 6 years. Foot Locker has a payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Foot Locker to earn $3.73 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 33.2%.
Foot Locker (NYSE FL) traded up $0.36 during midday trading on Wednesday, hitting $30.00. The stock had a trading volume of 3,894,000 shares, compared to its average volume of 3,287,541. The firm has a market cap of $3,675.29, a P/E ratio of 6.62, a PEG ratio of 2.07 and a beta of 0.66. The company has a current ratio of 5.63, a quick ratio of 2.88 and a debt-to-equity ratio of 0.04. Foot Locker has a 12 month low of $28.42 and a 12 month high of $79.43.
FL has been the subject of several recent analyst reports. BidaskClub downgraded Foot Locker from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Cowen and Company reissued a “hold” rating and issued a $52.00 price objective on shares of Foot Locker in a report on Friday, July 28th. Credit Suisse Group reissued a “neutral” rating and issued a $52.00 price objective (down previously from $66.00) on shares of Foot Locker in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $80.00 price objective on shares of Foot Locker in a report on Thursday, August 3rd. Finally, Barclays PLC set a $80.00 price objective on Foot Locker and gave the company a “buy” rating in a report on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $58.80.
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.
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