Principal Financial Group Inc. Lowers Stock Holdings in Foot Locker, Inc. (NYSE:FL)

Principal Financial Group Inc. lowered its stake in Foot Locker, Inc. (NYSE:FL) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 405,648 shares of the athletic footwear retailer’s stock after selling 19,727 shares during the period. Principal Financial Group Inc. owned 0.43% of Foot Locker worth $10,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FL. New York State Common Retirement Fund raised its holdings in Foot Locker by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer’s stock worth $1,048,000 after buying an additional 353 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Foot Locker by 3.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after acquiring an additional 431 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Foot Locker by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after purchasing an additional 483 shares during the last quarter. Comerica Bank increased its holdings in shares of Foot Locker by 1.5% in the 4th quarter. Comerica Bank now owns 41,010 shares of the athletic footwear retailer’s stock worth $1,277,000 after purchasing an additional 610 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of Foot Locker by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after purchasing an additional 667 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on FL shares. Citigroup boosted their target price on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wedbush restated a “neutral” rating and set a $25.00 price objective on shares of Foot Locker in a research report on Wednesday, June 12th. Robert W. Baird lifted 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, August 26th. Piper Sandler reissued a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a report on Friday, August 23rd. Finally, Evercore ISI raised their price target 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 issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.40.

Insider Buying and Selling at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the firm’s 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 transaction, the insider now directly owns 11,146,292 shares of the company’s stock, valued at $367,047,395.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 787,566 shares of company stock valued at $26,090,866 in the last 90 days. Insiders own 1.20% of the company’s stock.

Foot Locker Price Performance

Shares of NYSE:FL opened at $26.16 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 1.66. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -6.90, a P/E/G ratio of 0.69 and a beta of 1.44. The firm has a fifty day moving average price of $27.95 and a 200 day moving average price of $26.10. Foot Locker, Inc. has a fifty-two week low of $16.68 and a fifty-two week high of $35.60.

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.