Foot Locker (NYSE:FL) Shares Down 3.4%

Foot Locker, Inc. (NYSE:FL) shares were down 3.4% during trading on Wednesday . The stock traded as low as $24.26 and last traded at $24.26. Approximately 812,175 shares changed hands during trading, a decline of 75% from the average daily volume of 3,298,221 shares. The stock had previously closed at $25.12.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Wedbush reiterated a “neutral” rating and issued a $25.00 price objective on shares of Foot Locker in a research report on Wednesday, June 12th. Piper Sandler restated a “neutral” rating and issued a $30.00 price objective on shares of Foot Locker in a report on Friday, August 23rd. Robert W. Baird dropped their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Finally, Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.87.

Foot Locker Stock Performance

The stock has a 50 day moving average price of $28.67 and a two-hundred day moving average price of $25.71. The company has a market cap of $2.31 billion, a P/E ratio of -6.46, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. On average, research analysts predict that Foot Locker, Inc. will post 1.51 earnings per share for the current fiscal year.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Foot Locker during the 2nd quarter valued at approximately $61,000. Dana Investment Advisors Inc. boosted its position in Foot Locker by 34.3% in the second quarter. Dana Investment Advisors Inc. now owns 115,480 shares of the athletic footwear retailer’s stock valued at $2,878,000 after buying an additional 29,522 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Foot Locker during the second quarter worth $10,005,000. Quarry LP bought a new position in shares of Foot Locker in the 2nd quarter valued at $31,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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.

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.