Foot Locker, Inc. (NYSE:FL) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Foot Locker, Inc. (NYSE:FL) by 34.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 930,823 shares of the athletic footwear retailer’s stock after selling 499,047 shares during the period. Bank of New York Mellon Corp owned 0.98% of Foot Locker worth $13,125,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Foot Locker by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock valued at $228,589,000 after acquiring an additional 210,832 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Foot Locker by 67.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after purchasing an additional 770,932 shares during the period. American Century Companies Inc. increased its stake in Foot Locker by 5.2% during the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock valued at $36,104,000 after purchasing an additional 81,814 shares during the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of Foot Locker during the fourth quarter worth $34,835,000. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Foot Locker in the 4th quarter worth about $30,416,000.

Foot Locker Trading Up 0.3%

Shares of NYSE:FL opened at $25.19 on Monday. Foot Locker, Inc. has a 1-year low of $11.00 and a 1-year high of $33.94. The company has a 50 day moving average price of $23.60 and a 200 day moving average price of $18.96. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.68, a PEG ratio of 2.10 and a beta of 1.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.49 and a current ratio of 1.64.

Foot Locker (NYSE:FL) last announced its earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 billion. Foot Locker had a positive return on equity of 3.65% and a negative net margin of 4.54%. Foot Locker’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, research analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

FL has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of Foot Locker from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, April 22nd. Citigroup raised their price target on Foot Locker from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Barclays lowered shares of Foot Locker from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 29th. Morgan Stanley dropped their price target on shares of Foot Locker from $16.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 6th. Finally, Evercore ISI lowered their target price on Foot Locker from $22.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.20.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of Foot Locker stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total transaction of $557,336.70. Following the transaction, the chief accounting officer directly owned 93,895 shares in the company, valued at approximately $2,337,985.50. The trade was a 19.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.

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.