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Foot Locker , Inc. (NYSE:FL), currently trading at $23.71 with a market capitalization of $2.26 billion, announced on Friday the results of its 2025 Annual Meeting of Shareholders held on Tuesday, May 21, 2025. According to InvestingPro analysis, the stock has shown strong momentum with notable returns over the past three months, though technical indicators suggest the stock may be in overbought territory. Shareholders approved an amendment to the company’s 2007 Stock Incentive Plan, which was previously amended and restated on March 22, 2023, and has now been further amended.
The amendment to the Stock Incentive Plan was one of several items on the agenda for the Annual Meeting. The plan’s details were outlined in the company’s definitive proxy statement filed with the Securities and Exchange Commission on April 10, 2025, and are incorporated by reference from that document. The full text of the amended plan is also filed as Exhibit 10.1 to the Form S-8 Registration Statement filed on May 21, 2025. With the company’s current P/E ratio of 125.26, investors seeking deeper insights into Foot Locker’s valuation metrics can access comprehensive analysis through InvestingPro, which offers 10+ additional exclusive ProTips.
In addition to the stock plan amendment, shareholders elected directors to serve a one-year term expiring at the next annual meeting. The advisory vote to approve executive compensation was also approved, as was the ratification of KPMG LLP as the company’s independent registered public accounting firm for fiscal year 2025.
However, a shareholder proposal requesting the company adopt a goal for reducing its greenhouse gas emissions in line with the Paris Agreement was not approved.
Foot Locker, a leading global retailer of athletically inspired shoes and apparel, conducts its operations primarily through retail stores and direct-to-customers through its Internet and mobile sites. With annual revenue of $7.99 billion and a current ratio of 1.7, the company maintains strong liquidity to meet its short-term obligations. InvestingPro’s comprehensive analysis indicates an overall Financial Health score of "FAIR," with particularly strong momentum metrics. The company’s headquarters is located at 330 West 34th Street, New York, New York.
This report is based on a press release statement and summarizes the key outcomes of Foot Locker’s Annual Meeting as disclosed in the company’s recent 8-K filing with the SEC.
In other recent news, Foot Locker has announced a definitive agreement for acquisition by Dick’s Sporting Goods (NYSE:DKS) at a price of $24 per share, totaling a transaction value of $2.4 billion. This significant development is expected to be finalized in the second half of 2025. Analysts have responded to this announcement with various updates. Jefferies analyst Corey Tarlowe increased Foot Locker’s price target to $24, aligning with the acquisition price, while maintaining a Hold rating. Similarly, Citi analyst Paul Lejuez adjusted the price target to $24, reflecting the anticipated merger’s impact on Foot Locker’s valuation. Barclays (LON:BARC) analysts downgraded the stock from Overweight to Equal Weight, despite raising the price target to $24, citing expectations of a successful merger. Meanwhile, JPMorgan upgraded Foot Locker from Underweight to Neutral, also setting a price target of $24, as the acquisition is seen as a catalyst for potential business improvements. Needham downgraded the stock from Buy to Hold, noting the proximity of the current trading price to the acquisition price. Investors will be closely monitoring these developments as the transaction progresses.
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