Vanguard Group Inc. Decreases Stake in Foot Locker, Inc. $FL

Vanguard Group Inc. lowered its stake in shares of Foot Locker, Inc. (NYSE:FL) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,432,145 shares of the athletic footwear retailer’s stock after selling 72,861 shares during the period. Vanguard Group Inc. owned 10.95% of Foot Locker worth $147,093,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of Foot Locker by 41.2% during the 1st quarter. US Bancorp DE now owns 40,177 shares of the athletic footwear retailer’s stock worth $566,000 after purchasing an additional 11,733 shares during the last quarter. Bayforest Capital Ltd increased its stake in shares of Foot Locker by 246.8% during the 1st quarter. Bayforest Capital Ltd now owns 14,682 shares of the athletic footwear retailer’s stock worth $207,000 after purchasing an additional 10,449 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Foot Locker by 1,245.5% during the 1st quarter. XTX Topco Ltd now owns 138,953 shares of the athletic footwear retailer’s stock worth $1,959,000 after purchasing an additional 128,626 shares during the last quarter. Lane Generational LLC purchased a new stake in shares of Foot Locker during the 1st quarter worth approximately $2,070,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Foot Locker during the 1st quarter worth approximately $361,000.

Insider Activity

In other news, CAO Giovanna Cipriano sold 22,383 shares of Foot Locker stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 93,895 shares of the company’s stock, valued at approximately $2,337,985.50. The trade was a 19.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.

Foot Locker Stock Performance

Shares of FL opened at $25.67 on Thursday. The company has a market cap 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. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $24.91 and a 200-day moving average price of $19.73. Foot Locker, Inc. has a 12-month low of $11.00 and a 12-month high of $33.94.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. Foot Locker’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, equities analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FL has been the subject of several research analyst reports. Barclays lowered shares of Foot Locker from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 29th. Gordon Haskett lowered shares of Foot Locker from a “moderate buy” rating to a “hold” rating in a research note on Thursday, May 15th. Morgan Stanley reduced their price objective on shares of Foot Locker from $16.00 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised shares of Foot Locker from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $24.00 in a report on Thursday, May 15th. Finally, 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. Two research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.20.

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.