Markets Right Now: US stocks edge higher in early trading

Ashley Carr
May 20, 2017

Deere And Co (DE) reported a profit for its second quarter that climbed from previous year. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker, Inc. with MarketBeat.com's FREE daily email newsletter. Jefferies Group LLC restated a "buy" rating and set a $88.00 price objective on shares of Foot Locker in a report on Friday, April 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. The stock now has Weekly Volatility of 2.19% and Monthly Volatility of 1.69%. Analysts, on average, seem bullish as they suggest FL is worth $12.5 more, giving a target price of $82.95/share. "However, in Foot Locker's case, we believe the point is a valid one, as many younger consumers use part of their windfalls to buy expensive sneakers, and many parents do the same for their kids". Finally, B. Riley reissued a "buy" rating and issued a $79.00 price target on shares of Foot Locker in a research note on Tuesday, February 21st. Foot Locker still is ahead of its 52 week low, but now trading at the lower end of the range it has been in over the past year.

When we take a look at the company's balance sheet, we see that cash continues to stand at $1.05 billion, which is well more than ten percent of the company's market capitalization, whilst at the same time long term debt totals just $130 million - even Foot Locker's net cash position is equal to more than one tenth of the company's market cap. Ltd. now owns 20,930 shares of the textile maker's stock valued at $1,417,000 after buying an additional 543 shares in the last quarter. The FactSet consensus called for sales of $2.02 billion and a same-store-sales increase of 1.4%. Hodges Capital Management Inc. raised its position in Foot Locker by 0.3% in the fourth quarter. Company insiders own 2.92% of the company's stock. For the week, the stock is performing -7.07%. The ex-dividend date is Wednesday, July 12th. Finally, Gareth Morgan Investments Limited Partnership boosted its position in shares of Foot Locker by 4.3% in the first quarter. The stock was down as much as 2.9% earlier at an intraday low of $18.35, which was the lowest price seen since August 20, 2013. The shares were sold at an average price of $77.51, for a total value of $1,937,750.00. As of April 29, the Company operated 3,354 stores in 23 countries.

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InvestorPlace contributor Hilary Kramer last month wrote that "plenty of retail chains aren't posting any comparable sales growth, are closing stores, are watching earnings contract, and so on".

On the positive side, Champs Sports and Foot Locker Canada each delivered mid-single-digit comp increases, driven by gains in both footwear and apparel, Peters noted.

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