Foot Locker, Inc. (NYSE:FL) Director Ulice Payne, Jr. Sells 1,100 Shares

Foot Locker, Inc. (NYSE:FL) Director Ulice Payne, Jr. sold 1,100 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $22.51, for a total transaction of $24,761.00. Following the completion of the transaction, the director now directly owns 18,301 shares of the company’s stock, valued at $411,955.51. This represents a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Foot Locker Stock Down 3.8 %

Shares of NYSE FL opened at $22.00 on Tuesday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -4.88, a PEG ratio of 0.86 and a beta of 1.46. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a 12 month low of $19.33 and a 12 month high of $35.60. The stock has a 50-day moving average price of $23.28 and a two-hundred day moving average price of $25.54.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. Foot Locker’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

Several hedge funds have recently modified their holdings of FL. Point72 Asset Management L.P. acquired a new position in Foot Locker in the 2nd quarter valued at approximately $10,005,000. Stifel Financial Corp grew its stake in shares of Foot Locker by 43.3% in the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock worth $23,202,000 after purchasing an additional 271,297 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Foot Locker by 10.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after purchasing an additional 106,402 shares during the period. Neo Ivy Capital Management bought a new position in Foot Locker during the 3rd quarter worth $2,636,000. Finally, Edgestream Partners L.P. lifted its holdings in Foot Locker by 477.2% during the 3rd quarter. Edgestream Partners L.P. now owns 117,602 shares of the athletic footwear retailer’s stock worth $3,039,000 after buying an additional 97,226 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Robert W. Baird lowered their target price on Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group decreased their price objective on Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.18.

Foot Locker Company 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.