PNC Financial Services Group Inc. Sells 3,533 Shares of Foot Locker, Inc. $FL

PNC Financial Services Group Inc. lowered its holdings in Foot Locker, Inc. (NYSE:FL) by 36.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,061 shares of the athletic footwear retailer’s stock after selling 3,533 shares during the period. PNC Financial Services Group Inc.’s holdings in Foot Locker were worth $85,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in shares of Foot Locker by 66.5% during the fourth quarter. Ameriprise Financial Inc. now owns 541,659 shares of the athletic footwear retailer’s stock worth $11,786,000 after purchasing an additional 216,352 shares during the period. Vontobel Holding Ltd. increased its stake in Foot Locker by 55.0% during the 1st quarter. Vontobel Holding Ltd. now owns 46,847 shares of the athletic footwear retailer’s stock worth $661,000 after acquiring an additional 16,618 shares during the period. GAMMA Investing LLC raised its holdings in Foot Locker by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock valued at $35,000 after acquiring an additional 1,764 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Foot Locker during the 1st quarter valued at $176,000. Finally, LPL Financial LLC lifted its position in shares of Foot Locker by 38.8% during the 4th quarter. LPL Financial LLC now owns 21,789 shares of the athletic footwear retailer’s stock valued at $474,000 after acquiring an additional 6,090 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on FL. Morgan Stanley decreased their price target on Foot Locker from $16.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Gordon Haskett lowered shares of Foot Locker from a “moderate buy” rating to a “hold” rating in a report on Thursday, May 15th. Barclays cut shares of Foot Locker from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a research report on Friday, May 30th. Finally, Needham & Company LLC set a $24.00 price objective on shares of Foot Locker in a research note on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.20.

Foot Locker Trading Down 1.9%

Shares of Foot Locker stock opened at $25.67 on Thursday. The firm’s 50 day moving average is $24.91 and its 200 day moving average is $19.73. The firm has a market capitalization of $2.45 billion, a PE ratio of -6.81, a price-to-earnings-growth ratio of 2.19 and a beta of 1.75. Foot Locker, Inc. has a 1 year low of $11.00 and a 1 year high of $33.94. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL) last issued its earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. Equities research analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total value of $557,336.70. Following the completion of the transaction, the chief accounting officer owned 93,895 shares of the company’s stock, valued at $2,337,985.50. This represents a 19.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by corporate 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.