Insider Selling: Foot Locker, Inc. (NYSE:FL) Major Shareholder Sells 539,180 Shares of Stock

Foot Locker, Inc. (NYSE:FL) major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of Foot Locker stock in a transaction 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 transaction, the insider now directly owns 10,393,592 shares in the company, valued at $345,275,126.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Thursday, August 22nd, Vesa Equity Investment S.A R.L sold 246,886 shares of Foot Locker stock. The stock was sold at an average price of $32.93, for a total value of $8,129,955.98.
• On Tuesday, August 20th, Vesa Equity Investment S.A R.L sold 1,500 shares of Foot Locker stock. The shares were sold at an average price of $32.90, for a total value of $49,350.00.

Foot Locker Stock Performance

Shares of Foot Locker stock traded up $0.31 during trading on Tuesday, reaching $33.10. The company’s stock had a trading volume of 1,095,890 shares, compared to its average volume of 3,232,576. The company has a 50-day moving average price of $27.24 and a two-hundred day moving average price of $26.14. Foot Locker, Inc. has a fifty-two week low of $16.68 and a fifty-two week high of $35.60. The firm has a market cap of $3.14 billion, a PE ratio of -8.65, a P/E/G ratio of 0.79 and a beta of 1.46. The company has a current ratio of 1.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Thursday, May 30th. The athletic footwear retailer reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $0.70 earnings per share. Foot Locker’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts forecast that Foot Locker, Inc. will post 1.53 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on FL shares. Citigroup upped their target price on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. Evercore ISI increased 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. Barclays upped their price target on Foot Locker from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Finally, Robert W. Baird boosted their price target on shares of Foot Locker from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday. Five research 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. According to MarketBeat, Foot Locker has an average rating of “Hold” and an average price target of $25.93.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new position in Foot Locker in the 1st quarter valued at approximately $3,488,000. Public Employees Retirement System of Ohio acquired a new position in shares of Foot Locker in the 1st quarter valued at $2,194,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Foot Locker during the 1st quarter valued at $2,670,000. Quadrant Capital Group LLC increased its holdings in shares of Foot Locker by 3,004.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after buying an additional 1,352 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Foot Locker by 106.0% during the 4th quarter. Verition Fund Management LLC now owns 300,696 shares of the athletic footwear retailer’s stock worth $9,367,000 after buying an additional 154,708 shares during the last quarter.

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.