Handelsbanken Fonder AB Increases Stock Position in Foot Locker, Inc. (NYSE:FL)

Handelsbanken Fonder AB raised its position in Foot Locker, Inc. (NYSE:FL) by 31.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,200 shares of the athletic footwear retailer’s stock after acquiring an additional 6,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Foot Locker were worth $651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new stake in Foot Locker in the second quarter valued at $31,000. Fifth Third Bancorp lifted its position in shares of 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. Northwestern Mutual Wealth Management Co. increased its position in shares of Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares during the period. Headlands Technologies LLC purchased a new position in shares of Foot Locker during the second quarter valued at about $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Foot Locker in the second quarter worth about $61,000.

Foot Locker Stock Performance

Shares of NYSE FL opened at $22.99 on Monday. The company has a market cap of $2.18 billion, a PE ratio of -6.07, a PEG ratio of 0.57 and a beta of 1.43. The firm’s 50-day moving average price is $28.05 and its 200-day moving average price is $25.62. Foot Locker, Inc. has a 52-week low of $19.44 and a 52-week high of $35.60. 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 released its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. As a group, analysts anticipate that Foot Locker, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total value of $8,129,955.98. Following the transaction, the insider now directly owns 11,146,292 shares in the company, valued at approximately $367,047,395.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 787,566 shares of company stock worth $26,090,866 in the last three months. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Evercore ISI upped their target price on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, August 26th. Citigroup lifted their price target on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a report on Wednesday, August 28th. Finally, Gordon Haskett assumed coverage on Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target on the stock. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.94.

Foot Locker 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.