Foot Locker, Inc. (NYSE:FL – Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 9,720,000 shares, a drop of 18.2% from the August 15th total of 11,880,000 shares. Currently, 11.6% of the company’s shares are short sold. Based on an average trading volume of 2,830,000 shares, the days-to-cover ratio is presently 3.4 days.
Foot Locker Stock Performance
Shares of NYSE:FL opened at $27.34 on Wednesday. The business’s 50 day moving average is $28.24 and its 200 day moving average is $25.67. Foot Locker has a 12-month low of $16.68 and a 12-month high of $35.60. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.
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 that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the completion of the sale, the insider now owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 787,566 shares of company stock worth $26,090,866 over the last ninety days. 1.20% of the stock is owned by insiders.
Hedge Funds Weigh In On Foot Locker
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. StockNews.com upgraded Foot Locker from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Wedbush reiterated a “neutral” rating and set a $25.00 target price on shares of Foot Locker in a research report on Wednesday, June 12th. Robert W. Baird raised their price target on shares of Foot Locker from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Citigroup upped their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.40.
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.
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