Point72 Asset Management L.P. Purchases Shares of 401,474 Foot Locker, Inc. (NYSE:FL)

Point72 Asset Management L.P. bought a new stake in Foot Locker, Inc. (NYSE:FL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 401,474 shares of the athletic footwear retailer’s stock, valued at approximately $10,005,000. Point72 Asset Management L.P. owned about 0.42% of Foot Locker as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP bought a new position in Foot Locker in the 2nd quarter valued at about $31,000. Fifth Third Bancorp increased its stake in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after acquiring an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Foot Locker in the 2nd quarter valued at $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Foot Locker in the 2nd quarter valued at $61,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FL. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Evercore ISI increased their target price on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, August 26th. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. Finally, Robert W. Baird decreased their price target on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.87.

Foot Locker Stock Down 2.2 %

Foot Locker stock opened at $25.84 on Tuesday. The company has a market capitalization of $2.45 billion, a PE ratio of -6.82, a PEG ratio of 0.64 and a beta of 1.44. The firm’s fifty day moving average is $28.69 and its 200 day moving average is $25.69. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a 12-month low of $17.19 and a 12-month high of $35.60.

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

Insider Buying and Selling at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total value of $8,129,955.98. Following the transaction, the insider now owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 787,566 shares of company stock valued at $26,090,866. Corporate insiders own 1.20% of the company’s stock.

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.