Headlands Technologies LLC Takes Position in Foot Locker, Inc. (NYSE:FL)

Headlands Technologies LLC bought a new position in shares of Foot Locker, Inc. (NYSE:FL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,725 shares of the athletic footwear retailer’s stock, valued at approximately $43,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after acquiring an additional 557,489 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Foot Locker by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock worth $29,738,000 after purchasing an additional 81,684 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Foot Locker by 326.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after purchasing an additional 705,237 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of Foot Locker by 54.3% in the 1st quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock valued at $21,441,000 after buying an additional 264,598 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Foot Locker by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 689,542 shares of the athletic footwear retailer’s stock worth $17,183,000 after buying an additional 4,891 shares in the last quarter.

Insider Transactions at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total transaction of $49,350.00. Following the completion of the transaction, the insider now directly owns 11,402,353 shares of the company’s stock, valued at approximately $375,137,413.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 787,566 shares of company stock worth $26,090,866 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

Foot Locker Stock Performance

Shares of FL opened at $27.34 on Wednesday. Foot Locker, Inc. has a 1 year low of $16.68 and a 1 year high of $35.60. The stock has a market capitalization of $2.59 billion, a P/E ratio of -7.21, a P/E/G ratio of 0.61 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The company’s fifty day moving average is $28.24 and its two-hundred day moving average is $25.67.

Analyst Upgrades and Downgrades

FL has been the subject of a number of recent research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a research note on Wednesday, August 28th. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Wedbush reissued a “neutral” rating and set a $25.00 target price on shares of Foot Locker in a research report on Wednesday, June 12th. Robert W. Baird raised their price objective on shares of Foot Locker from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Morgan Stanley cut shares of Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.40.

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.