Axa S.A. Sells 49,425 Shares of Foot Locker, Inc. (NYSE:FL)

Axa S.A. decreased its stake in Foot Locker, Inc. (NYSE:FL) by 34.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,777 shares of the athletic footwear retailer’s stock after selling 49,425 shares during the period. Axa S.A.’s holdings in Foot Locker were worth $2,337,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Foot Locker by 326.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after acquiring an additional 705,237 shares during the period. Norges Bank purchased a new stake in Foot Locker during the fourth quarter valued at about $21,238,000. Allspring Global Investments Holdings LLC boosted its position in Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after purchasing an additional 557,489 shares during the period. Invenomic Capital Management LP increased its stake in shares of Foot Locker by 54.3% in the first 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 in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Foot Locker in the first quarter valued at approximately $6,073,000.

Insider Activity at Foot Locker

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

Foot Locker Trading Down 2.2 %

Shares of FL opened at $25.84 on Tuesday. Foot Locker, Inc. has a 1-year low of $17.19 and a 1-year high of $35.60. The company has a market capitalization of $2.45 billion, a P/E ratio of -6.82, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The firm’s 50 day simple moving average is $28.69 and its 200 day simple moving average is $25.69.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on FL shares. Wedbush reiterated a “neutral” rating and issued a $25.00 price objective on shares of Foot Locker in a research note on Wednesday, June 12th. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Finally, Evercore ISI upped their price target on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, August 26th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Foot Locker has a consensus rating of “Hold” and an average price target of $25.87.

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.