Foot Locker (NYSE:FL) Stock Price Down 2.4%

Foot Locker, Inc. (NYSE:FL)’s share price dropped 2.4% on Friday . The stock traded as low as $30.54 and last traded at $30.55. Approximately 226,198 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 3,302,469 shares. The stock had previously closed at $31.30.

Wall Street Analyst Weigh In

FL has been the topic of several analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price target on shares of Foot Locker in a research report on Wednesday. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Evercore ISI raised their price objective on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, August 26th. Robert W. Baird increased their target price on shares of Foot Locker from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Wedbush restated a “neutral” rating and issued a $25.00 price objective on shares of Foot Locker in a report on Wednesday, June 12th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.40.

Foot Locker Stock Performance

The stock has a market capitalization of $2.95 billion, a PE ratio of -8.22, a price-to-earnings-growth ratio of 0.80 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $27.70 and a 200-day moving average of $26.19.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.10. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business posted $0.70 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that Foot Locker, Inc. will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $32.90, for a total transaction of $49,350.00. Following the completion of the transaction, the insider now owns 11,402,353 shares in the company, valued at $375,137,413.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 787,566 shares of company stock worth $26,090,866 over the last 90 days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently added to or reduced their stakes in FL. Jacobs Levy Equity Management Inc. raised its holdings in Foot Locker by 326.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after purchasing an additional 705,237 shares in the last quarter. Norges Bank purchased a new position in shares of Foot Locker in the 4th quarter valued at $21,238,000. Allspring Global Investments Holdings LLC raised its stake in Foot Locker by 23.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after acquiring an additional 557,489 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Foot Locker in the second quarter valued at $10,005,000. Finally, Invenomic Capital Management LP boosted its stake in Foot Locker by 54.3% in the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock valued at $21,441,000 after acquiring an additional 264,598 shares in the last quarter.

Foot Locker Company Profile

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.