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

Principal Financial Group Inc. reduced its stake in shares of Foot Locker, Inc. (NYSE:FL) by 4.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 388,517 shares of the athletic footwear retailer’s stock after selling 17,131 shares during the period. Principal Financial Group Inc.’s holdings in Foot Locker were worth $10,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Foot Locker by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after purchasing an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after acquiring an additional 557,489 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Foot Locker by 326.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after purchasing an additional 705,237 shares during the period. Invenomic Capital Management LP lifted its stake in shares of Foot Locker by 54.3% in the 1st quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock valued at $21,441,000 after purchasing an additional 264,598 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Foot Locker by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 689,542 shares of the athletic footwear retailer’s stock worth $17,183,000 after purchasing an additional 4,891 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on FL. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Robert W. Baird decreased their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Evercore ISI upped their target price on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Finally, Gordon Haskett started coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price for the company. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Foot Locker has a consensus rating of “Hold” and a consensus price target of $26.53.

Insider Transactions at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 10,393,592 shares in the company, valued at approximately $345,275,126.24. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Foot Locker Stock Down 4.7 %

Shares of NYSE FL opened at $22.50 on Tuesday. Foot Locker, Inc. has a 12-month low of $20.47 and a 12-month high of $35.60. The stock’s fifty day simple moving average is $24.76 and its two-hundred day simple moving average is $25.78. The stock has a market capitalization of $2.13 billion, a PE ratio of -5.81, a price-to-earnings-growth ratio of 0.58 and a beta of 1.44. 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 issued its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. As a group, analysts expect that Foot Locker, Inc. will post 1.5 EPS for the current fiscal year.

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.