Commonwealth Equity Services LLC Sells 826 Shares of Foot Locker, Inc. (NYSE:FL)

Commonwealth Equity Services LLC lowered its stake in shares of Foot Locker, Inc. (NYSE:FL) by 7.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,194 shares of the athletic footwear retailer’s stock after selling 826 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Foot Locker were worth $254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FL. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Foot Locker by 326.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after buying an additional 705,237 shares during the last quarter. Norges Bank acquired a new position in Foot Locker during the 4th quarter valued at $21,238,000. Allspring Global Investments Holdings LLC boosted its holdings in Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after purchasing an additional 557,489 shares during the period. Invenomic Capital Management LP grew its position in Foot Locker by 54.3% in the 1st quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock worth $21,441,000 after purchasing an additional 264,598 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Foot Locker during the 1st quarter worth about $6,073,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FL shares. Citigroup increased their target price on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Telsey Advisory Group reissued a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a report on Wednesday, August 28th. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Robert W. Baird lifted 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. Finally, Evercore ISI increased their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.40.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were 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 directly owns 11,402,353 shares of the company’s stock, valued at $375,137,413.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 787,566 shares of company stock worth $26,090,866. Insiders own 1.20% of the company’s stock.

Foot Locker Price Performance

NYSE:FL opened at $27.48 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.60 billion, a PE ratio of -7.25, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. Foot Locker, Inc. has a 12 month low of $16.68 and a 12 month high of $35.60. The company’s 50-day moving average price is $28.65 and its two-hundred day moving average price is $25.62.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS 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 for the quarter, compared to the consensus estimate of $1.88 billion. On average, equities analysts anticipate that Foot Locker, Inc. will post 1.51 EPS for the current fiscal 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.