Hsbc Holdings PLC Trims Position in Foot Locker, Inc. $FL

Hsbc Holdings PLC decreased its position in Foot Locker, Inc. (NYSE:FL) by 49.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,769 shares of the athletic footwear retailer’s stock after selling 16,693 shares during the quarter. Hsbc Holdings PLC’s holdings in Foot Locker were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position 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 worth $35,000 after buying an additional 1,764 shares during the last quarter. Signaturefd LLC lifted its position in Foot Locker by 27.2% in the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer’s stock worth $65,000 after buying an additional 980 shares during the last quarter. Investors Research Corp lifted its position in Foot Locker by 19.7% in the 1st quarter. Investors Research Corp now owns 11,529 shares of the athletic footwear retailer’s stock worth $163,000 after buying an additional 1,900 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Foot Locker in the 1st quarter worth approximately $176,000. Finally, Baird Financial Group Inc. bought a new stake in Foot Locker in the 4th quarter worth approximately $312,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on FL. Citigroup boosted their target price on Foot Locker from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Barclays downgraded Foot Locker from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 29th. Wall Street Zen downgraded Foot Locker to a “strong sell” rating in a research report on Saturday, August 30th. Robert W. Baird boosted their price objective on Foot Locker from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.33.

Insiders Place Their Bets

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the business’s 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Franklin Bracken sold 14,922 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $24.50, for a total transaction of $365,589.00. Following the transaction, the president directly owned 213,496 shares in the company, valued at approximately $5,230,652. The trade was a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Foot Locker Stock Up 0.1%

Shares of Foot Locker stock opened at $24.15 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.45 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $25.19 and its two-hundred day simple moving average is $20.19. The company has a market cap of $2.31 billion, a P/E ratio of -5.99, a PEG ratio of 2.18 and a beta of 1.79. Foot Locker, Inc. has a 12-month low of $11.00 and a 12-month high of $29.24.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.32). The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Research analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current year.

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.