Foot Locker, Inc. (NYSE:FL) Major Shareholder Sells $8,129,955.98 in Stock

Foot Locker, Inc. (NYSE:FL) major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total value of $8,129,955.98. Following the completion of the transaction, the insider now directly owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Vesa Equity Investment S.A R.L also recently made the following trade(s):

• On Tuesday, August 20th, Vesa Equity Investment S.A R.L sold 1,500 shares of Foot Locker stock. The stock was sold at an average price of $32.90, for a total transaction of $49,350.00.

Foot Locker Stock Down 0.2 %

Shares of NYSE FL traded down $0.06 during mid-day trading on Friday, reaching $32.90. The company had a trading volume of 1,563,003 shares, compared to its average volume of 3,230,560. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -8.68, a PEG ratio of 0.79 and a beta of 1.46. The stock has a fifty day moving average of $26.90 and a two-hundred day moving average of $26.12. Foot Locker, Inc. has a 12-month low of $16.60 and a 12-month high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 1.68.

Foot Locker (NYSE:FL) last released its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.10. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts expect that Foot Locker, Inc. will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. bought a new position in shares of Foot Locker in the fourth quarter valued at $211,000. International Assets Investment Management LLC bought a new stake in shares of Foot Locker during the 4th quarter valued at $100,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Foot Locker by 19.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,412 shares of the athletic footwear retailer’s stock valued at $605,000 after buying an additional 3,225 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Foot Locker by 10.0% during the 4th quarter. Signaturefd LLC now owns 5,799 shares of the athletic footwear retailer’s stock worth $181,000 after buying an additional 527 shares in the last quarter. Finally, CWM LLC boosted its position in Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after buying an additional 387 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on FL. Barclays upped their price objective on shares of Foot Locker from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Morgan Stanley cut shares of Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a report on Wednesday. Citigroup lifted their price objective on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.33.

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.