Principal Financial Group Inc. Sells 17,131 Shares of Foot Locker, Inc. (NYSE:FL)

Principal Financial Group Inc. reduced its holdings in Foot Locker, Inc. (NYSE:FL) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 388,517 shares of the athletic footwear retailer’s stock after selling 17,131 shares during the quarter. Principal Financial Group Inc. owned 0.41% of Foot Locker worth $10,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FL. Patriot Financial Group Insurance Agency LLC grew its position in Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock worth $355,000 after acquiring an additional 431 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Foot Locker by 1.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock worth $1,035,000 after purchasing an additional 483 shares in the last quarter. Arizona State Retirement System increased its position in shares of Foot Locker by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after purchasing an additional 518 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Foot Locker by 2.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock valued at $690,000 after buying an additional 667 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position 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 worth $34,000 after buying an additional 733 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Gordon Haskett began coverage on Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target on the stock. Robert W. Baird lowered their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Evercore ISI raised their target price 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. Finally, Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Four 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, Foot Locker presently has a consensus rating of “Hold” and an average target price of $26.53.

Insiders Place Their Bets

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $33.22, for a total value of $17,911,559.60. Following the transaction, the insider now directly owns 10,393,592 shares in the company, valued at approximately $345,275,126.24. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Foot Locker Stock Down 4.7 %

NYSE:FL opened at $22.50 on Tuesday. 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 firm has a market cap of $2.13 billion, a P/E ratio of -5.81, a P/E/G ratio of 0.58 and a beta of 1.44. Foot Locker, Inc. has a fifty-two week low of $20.47 and a fifty-two week high of $35.60. The firm has a 50-day simple moving average of $24.76 and a two-hundred day simple moving average of $25.78.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Analysts predict that Foot Locker, Inc. will post 1.5 earnings per share for the current fiscal year.

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.