SG Americas Securities LLC Grows Holdings in Foot Locker, Inc. (NYSE:FL)

SG Americas Securities LLC raised its position in Foot Locker, Inc. (NYSE:FL) by 66.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,603 shares of the athletic footwear retailer’s stock after purchasing an additional 3,048 shares during the period. SG Americas Securities LLC’s holdings in Foot Locker were worth $196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Foot Locker in the 2nd quarter valued at about $31,000. Fifth Third Bancorp lifted its holdings in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Foot Locker by 156.1% in the 2nd 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 purchased a new position in Foot Locker in the 2nd quarter valued at about $43,000. Finally, Covestor Ltd lifted its holdings in shares of Foot Locker by 43,900.0% during the 1st quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock worth $63,000 after acquiring an additional 2,195 shares during the period.

Analyst Ratings Changes

FL has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird cut their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Piper Sandler reiterated a “neutral” rating and set a $30.00 price objective on shares of Foot Locker in a report on Friday, August 23rd. Finally, Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.94.

Foot Locker Stock Performance

Shares of FL opened at $23.71 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The stock has a market capitalization of $2.25 billion, a PE ratio of -6.26, a price-to-earnings-growth ratio of 0.60 and a beta of 1.43. Foot Locker, Inc. has a 12-month low of $19.44 and a 12-month high of $35.60. The business’s fifty day moving average price is $27.51 and its 200 day moving average price is $25.53.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. Equities research analysts forecast that Foot Locker, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of Foot Locker 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 transaction, the insider now owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 787,566 shares of company stock valued at $26,090,866 over the last three months. Company insiders own 1.20% of the company’s stock.

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.