SG Americas Securities LLC Reduces Stock Position in Foot Locker, Inc. (NYSE:FL)

SG Americas Securities LLC trimmed its holdings in shares of Foot Locker, Inc. (NYSE:FL) by 42.5% in the second quarter, Holdings Channel reports. The institutional investor owned 4,555 shares of the athletic footwear retailer’s stock after selling 3,370 shares during the period. SG Americas Securities LLC’s holdings in Foot Locker were worth $114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Foot Locker by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock valued at $29,738,000 after buying an additional 81,684 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Foot Locker by 326.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after acquiring an additional 705,237 shares in the last quarter. Invenomic Capital Management LP grew its holdings in shares of Foot Locker by 54.3% during the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock worth $21,441,000 after purchasing an additional 264,598 shares during the last quarter. Norges Bank acquired a new stake in shares of Foot Locker during the fourth quarter worth about $21,238,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Foot Locker by 11.8% in the 1st quarter. Bridgeway Capital Management LLC now owns 592,404 shares of the athletic footwear retailer’s stock valued at $16,884,000 after purchasing an additional 62,598 shares during the last quarter.

Foot Locker Stock Performance

NYSE FL opened at $32.79 on Tuesday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -8.65, a PEG ratio of 0.79 and a beta of 1.46. The business’s 50 day moving average is $27.24 and its two-hundred day moving average is $26.14. Foot Locker, Inc. has a 12-month low of $16.68 and a 12-month high of $35.60. The company has a current ratio of 1.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. Research analysts expect that Foot Locker, Inc. will post 1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup raised their price target on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a report on Friday. Wedbush reiterated a “neutral” rating and issued a $25.00 price target on shares of Foot Locker in a research report on Wednesday, June 12th. Robert W. Baird lifted their price objective on shares of Foot Locker from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Morgan Stanley cut shares of Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.93.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total value of $8,129,955.98. Following the completion of the transaction, the insider now directly owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.