Foot Locker, Inc. (NYSE:FL) Sees Significant Decline in Short Interest

Foot Locker, Inc. (NYSE:FL) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 9,720,000 shares, a decline of 18.2% from the August 15th total of 11,880,000 shares. Based on an average trading volume of 2,830,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 11.6% of the shares of the company are sold short.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total value of $49,350.00. Following the completion of the transaction, the insider now owns 11,402,353 shares in the company, valued at approximately $375,137,413.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 787,566 shares of company stock valued at $26,090,866 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Foot Locker in the 2nd quarter worth approximately $31,000. Fifth Third Bancorp lifted its holdings in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after buying an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Foot Locker in the 2nd quarter worth approximately $43,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after purchasing an additional 1,352 shares during the period.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. Robert W. Baird boosted their price target 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. Citigroup lifted their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded Foot Locker from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.40.

Foot Locker Price Performance

Shares of Foot Locker stock opened at $27.34 on Wednesday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -7.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.44. Foot Locker has a one year low of $16.68 and a one year high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The business’s 50 day simple moving average is $28.24 and its two-hundred day simple moving average is $25.67.

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.