US Bancorp DE Decreases Stake in Foot Locker, Inc. (NYSE:FL)

US Bancorp DE lowered its position in Foot Locker, Inc. (NYSE:FL) by 10.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,443 shares of the athletic footwear retailer’s stock after selling 3,591 shares during the period. US Bancorp DE’s holdings in Foot Locker were worth $812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors 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 $31,000. Fifth Third Bancorp boosted its position in shares of Foot Locker by 116.0% during the 2nd 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. boosted its position in shares of Foot Locker by 156.1% during 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 acquiring an additional 985 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Foot Locker during the 2nd quarter valued at about $43,000. Finally, nVerses Capital LLC acquired a new position in shares of Foot Locker during the 3rd quarter valued at about $47,000.

Analysts Set New Price Targets

FL has been the topic of several recent research reports. Piper Sandler reissued a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a research report on Friday, August 23rd. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Gordon Haskett began coverage on shares of Foot Locker in a report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective on the stock. Evercore ISI boosted their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 26th. Finally, Citigroup boosted 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. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.53.

Foot Locker Stock Performance

Shares of FL opened at $24.70 on Friday. The stock has a 50 day moving average price of $25.22 and a 200 day moving average price of $25.65. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -6.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.44. Foot Locker, Inc. has a 52-week low of $19.44 and a 52-week high of $35.60.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. Research analysts predict that Foot Locker, Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the completion of the sale, the insider now owns 10,393,592 shares in the company, valued at $345,275,126.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is currently owned by company insiders.

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.