Point72 Asia Singapore Pte. Ltd. Makes New $61,000 Investment in Foot Locker, Inc. (NYSE:FL)

Point72 Asia Singapore Pte. Ltd. bought a new position in Foot Locker, Inc. (NYSE:FL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,466 shares of the athletic footwear retailer’s stock, valued at approximately $61,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Foot Locker during the second quarter valued at $31,000. Fifth Third Bancorp lifted its holdings in shares of Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Foot Locker during the second quarter valued at $43,000. Finally, Covestor Ltd lifted its holdings in shares of Foot Locker by 43,900.0% during the first quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock valued at $63,000 after purchasing an additional 2,195 shares in the last quarter.

Wall Street Analysts Forecast Growth

FL has been the topic of a number of recent research reports. 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. Piper Sandler reissued a “neutral” rating and issued a $30.00 price objective on shares of Foot Locker in a report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a report on Wednesday, August 28th. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. Finally, Evercore ISI upped their price objective on Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.87.

Insider Activity at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s stock in a transaction 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 sale, the insider now owns 10,393,592 shares in the company, valued at $345,275,126.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 787,566 shares of company stock valued at $26,090,866. Corporate insiders own 1.20% of the company’s stock.

Foot Locker Stock Performance

NYSE:FL opened at $24.11 on Friday. The stock has a 50-day moving average price of $28.56 and a 200 day moving average price of $25.69. The stock has a market capitalization of $2.28 billion, a P/E ratio of -6.36, a P/E/G ratio of 0.59 and a beta of 1.43. Foot Locker, Inc. has a 12-month low of $18.08 and a 12-month high of $35.60. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. Equities research analysts forecast that Foot Locker, Inc. will post 1.51 EPS 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.