Foot Locker, Inc. (NYSE:FL) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its stake in Foot Locker, Inc. (NYSE:FL) by 95.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,878 shares of the athletic footwear retailer’s stock after selling 293,040 shares during the period. Verition Fund Management LLC’s holdings in Foot Locker were worth $384,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Foot Locker during the second quarter valued at about $31,000. Fifth Third Bancorp lifted its position 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 worth $34,000 after purchasing an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $40,000 after purchasing an additional 985 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Foot Locker during the second quarter worth about $43,000. Finally, nVerses Capital LLC bought a new position in shares of Foot Locker during the third quarter worth about $47,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FL. The Goldman Sachs Group reduced their price target on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Evercore ISI cut their target price on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Piper Sandler cut their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Jefferies Financial Group cut their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.29.

Foot Locker Stock Down 1.7 %

FL stock opened at $21.52 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a 1 year low of $19.33 and a 1 year high of $35.60. The company has a fifty day simple moving average of $23.63 and a 200 day simple moving average of $25.78. The firm has a market cap of $2.04 billion, a PE ratio of -4.77, a PEG ratio of 0.85 and a beta of 1.46.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Foot Locker, Inc. will post 1.23 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.