Foot Locker, Inc. (NYSE:FL) Major Shareholder Sells $17,911,559.60 in Stock

Foot Locker, Inc. (NYSE:FL) major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the sale, the insider now directly owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 stock was 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 opened at $32.81 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 0.50. The firm has a fifty day moving average price of $27.39 and a 200 day moving average price of $26.16. Foot Locker, Inc. has a 1 year low of $16.68 and a 1 year high of $35.60.

Foot Locker (NYSE:FL) last issued its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, topping 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 firm 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 posted $0.70 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Foot Locker, Inc. will post 1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FL has been the subject of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $30.00 price target on shares of Foot Locker in a research note on Friday, August 23rd. Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird boosted their target price on shares of Foot Locker from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Foot Locker in a report on Wednesday, June 12th. Finally, Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.93.

Institutional Trading of Foot Locker

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

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.