Foot Locker, Inc. (NYSE:FL) Short Interest Down 5.3% in September

Foot Locker, Inc. (NYSE:FL) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 8,950,000 shares, a drop of 5.3% from the September 15th total of 9,450,000 shares. Based on an average daily volume of 3,020,000 shares, the short-interest ratio is presently 3.0 days. Currently, 10.7% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FL shares. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Gordon Haskett assumed coverage on Foot Locker in a research note on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price for the company. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a research note on Wednesday, August 28th. Morgan Stanley cut shares of Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. Finally, Citigroup upped their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.94.

Foot Locker Stock Down 0.4 %

NYSE FL opened at $24.58 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -6.49, a PEG ratio of 0.58 and a beta of 1.43. The company has a 50 day moving average of $27.65 and a 200-day moving average of $25.53. Foot Locker has a 1-year low of $19.44 and a 1-year high of $35.60.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. On average, equities research analysts expect that Foot Locker will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the transaction, the insider now owns 10,393,592 shares in the company, valued at $345,275,126.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 787,566 shares of company stock valued at $26,090,866. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Several large investors have recently made changes to their positions in FL. Jacobs Levy Equity Management Inc. lifted its position in shares of Foot Locker by 326.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after buying an additional 705,237 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after purchasing an additional 557,489 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Foot Locker during the 2nd quarter valued at approximately $10,005,000. Invenomic Capital Management LP increased its position in Foot Locker by 54.3% during the 1st quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock worth $21,441,000 after purchasing an additional 264,598 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in Foot Locker during the 1st quarter worth approximately $6,073,000.

About Foot Locker

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.