AQR Capital Management LLC Lowers Position in Foot Locker, Inc. (NYSE:FL)

AQR Capital Management LLC reduced its position in shares of Foot Locker, Inc. (NYSE:FL) by 68.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,928 shares of the athletic footwear retailer’s stock after selling 43,017 shares during the period. AQR Capital Management LLC’s holdings in Foot Locker were worth $489,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FL. Fifth Third Bancorp grew its stake in shares of Foot Locker by 116.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares during the period. Headlands Technologies LLC acquired a new position in Foot Locker during the second quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Foot Locker during the second quarter worth about $61,000. Covestor Ltd increased its holdings in Foot Locker by 43,900.0% in the first quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock valued at $63,000 after buying an additional 2,195 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Foot Locker during the 2nd quarter valued at approximately $91,000.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction on 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 sale, the insider now directly owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 787,566 shares of company stock worth $26,090,866. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FL. Piper Sandler reissued a “neutral” rating and set a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Robert W. Baird decreased their target price on Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Telsey Advisory Group restated a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Citigroup increased their target price on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.94.

Foot Locker Price Performance

NYSE FL opened at $23.77 on Tuesday. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -6.27, a price-to-earnings-growth ratio of 0.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The company has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $25.59. Foot Locker, Inc. has a 52-week low of $19.44 and a 52-week high of $35.60.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Equities research analysts predict that Foot Locker, Inc. will post 1.49 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.