How does Foot Locker Inc. (FL) change from a tortoise to a hare?

Foot Locker Inc. (NYSE: FL) stock fell -0.97% on Friday to $18.31 against a previous-day closing price of $18.49. With 19.55 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.38 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $18.68 whereas the lowest price it dropped to was $18.22. The 52-week range on FL shows that it touched its highest point at $47.22 and its lowest point at $14.84 during that stretch. It currently has a 1-year price target of $20.53. With its current market cap of 1.74 billion, FL has annualized dividend of $1.60 while the current yield stands at 8.74%. Beta for the stock currently stands at 1.26.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FL was up-trending over the past week, with a rise of 0.94%, but this was down by -27.51% over a month. Three-month performance dropped to -34.09% while six-month performance fell -57.12%. The stock lost -51.24% in the past year, while it has lost -51.55% so far this year. A look at the trailing 12-month EPS for FL yields 1.57 with Next year EPS estimates of 2.13. For the next quarter, that number is 0.26. This implies an EPS growth rate of -58.00% for this year and 58.90% for next year. EPS is expected to decline by -11.19% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 3.80%.

Float and Shares Shorts:

At present, 94.20 million FL shares are outstanding with a float of 92.54 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.32 million, which was 12.02% higher than short shares on Jul 30, 2023. In addition to Ms. Mary N. Dillon as the firm’s CEO, Pres & Director, Mr. Franklin R. Bracken serves as its Exec. VP & Chief Commercial Officer.

Institutional Ownership:

Through their ownership of 110.76% of FL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.47% of FL, in contrast to 36.65% held by mutual funds. Shares owned by individuals account for 17.02%. As the largest shareholder in FL with 10.69% of the stake, Fidelity Management & Research Co holds 10,037,710 shares worth 10,037,710. A second-largest stockholder of FL, The Vanguard Group, Inc., holds 9,248,175 shares, controlling over 9.85% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in FL, holding 8,479,796 shares or 9.03% stake. With a 4.70% stake in FL, the Fidelity Low Priced Stock Fund is the largest stakeholder. A total of 4,417,735 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of FL stock, is the second-largest Mutual Fund holder. It holds 2,910,634 shares valued at 57.11 million. iShares Core S&P Mid Cap ETF holds 2.73% of the stake in FL, owning 2,567,512 shares worth 50.37 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FL analysts setting a high price target of $30.00 and a low target of $11.00, the average target price over the next 12 months is $20.65. Based on these targets, FL could surge 63.84% to reach the target high and fall by -39.92% to reach the target low. Reaching the average price target will result in a growth of 12.78% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded FL stock several times over the past three months with 16 Buys and 0 Sells. In these transactions, 42,306 shares were bought while 0 shares were sold. The number of buy transactions has increased to 62 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 277,881 while 1,391,920 shares were sold.

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