Caxton Associates LP Acquires New Shares in Foot Locker, Inc. (NYSE:FL)

Caxton Associates LP acquired a new stake in shares of Foot Locker, Inc. (NYSE:FL) during the second quarter, according to its most recent filing with the SEC. The fund acquired 25,890 shares of the athletic footwear retailer’s stock, valued at approximately $645,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp increased its stake in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after acquiring an additional 733 shares during the last quarter. Headlands Technologies LLC bought a new position in Foot Locker in the 2nd quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Foot Locker in the 2nd quarter worth about $61,000. Covestor Ltd increased its stake in Foot Locker by 43,900.0% in the 1st quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock worth $63,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Foot Locker in the 2nd quarter worth about $91,000.

Insiders Place Their Bets

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the transaction, the insider now owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a research note on Friday, August 23rd. Evercore ISI upped their target price on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. Robert W. Baird reduced their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.87.

Foot Locker Trading Up 0.3 %

NYSE FL opened at $26.33 on Friday. Foot Locker, Inc. has a fifty-two week low of $16.73 and a fifty-two week high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The stock has a 50 day simple moving average of $28.67 and a two-hundred day simple moving average of $25.62. The stock has a market cap of $2.50 billion, a P/E ratio of -6.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, analysts forecast that Foot Locker, Inc. will post 1.51 earnings per share for the current year.

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.