Hsbc Holdings PLC Sells 2,392 Shares of Foot Locker, Inc. (NYSE:FL)

Hsbc Holdings PLC cut its position in Foot Locker, Inc. (NYSE:FL) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,755 shares of the athletic footwear retailer’s stock after selling 2,392 shares during the quarter. Hsbc Holdings PLC’s holdings in Foot Locker were worth $586,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in Foot Locker by 3.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock worth $355,000 after buying an additional 431 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Foot Locker by 1.2% in the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after purchasing an additional 483 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Foot Locker by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after purchasing an additional 518 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Foot Locker by 2.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after purchasing an additional 667 shares in the last quarter. Finally, Fifth Third Bancorp boosted 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 purchasing an additional 733 shares during the period.

Foot Locker Price Performance

Shares of Foot Locker stock opened at $25.84 on Tuesday. The firm has a market capitalization of $2.45 billion, a PE ratio of -6.82, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a 12 month low of $17.19 and a 12 month high of $35.60. The business’s 50-day moving average price is $28.69 and its 200-day moving average price is $25.69.

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

Insider Activity at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the sale, the insider now directly owns 10,393,592 shares of the company’s stock, valued at $345,275,126.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 787,566 shares of company stock valued at $26,090,866. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FL. Telsey Advisory Group reissued a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a report on Wednesday, August 28th. Robert W. Baird decreased their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Evercore ISI raised their price target on shares of Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 26th. Wedbush restated a “neutral” rating and set a $25.00 price target on shares of Foot Locker in a research report on Wednesday, June 12th. Finally, Citigroup increased their price objective on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.87.

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.