Insider Selling: Foot Locker, Inc. (NYSE:FL) Director Sells 1,100 Shares of Stock

Foot Locker, Inc. (NYSE:FL) Director Ulice Payne, Jr. sold 1,100 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $22.51, for a total transaction of $24,761.00. Following the completion of the transaction, the director now directly owns 18,301 shares of the company’s stock, valued at approximately $411,955.51. This represents a 5.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Foot Locker Trading Down 1.1 %

NYSE FL opened at $21.76 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The stock’s 50-day moving average is $23.24 and its 200-day moving average is $25.52. Foot Locker, Inc. has a one year low of $19.33 and a one year high of $35.60. The firm has a market cap of $2.06 billion, a P/E ratio of -4.82, a P/E/G ratio of 0.86 and a beta of 1.46.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $0.30 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Gordon Haskett began coverage on shares of Foot Locker in a research report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price objective for the company. Piper Sandler cut their price target on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. JPMorgan Chase & Co. lowered their price objective on Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, December 4th. Guggenheim cut their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and lifted their price target for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.18.

Hedge Funds Weigh In On Foot Locker

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Foot Locker in the third quarter valued at about $58,000. Virtu Financial LLC bought a new stake in Foot Locker in the 3rd quarter valued at approximately $701,000. Neo Ivy Capital Management acquired a new position in Foot Locker during the 3rd quarter worth approximately $2,636,000. Geode Capital Management LLC grew its stake in shares of Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in shares of Foot Locker in the third quarter valued at approximately $283,000.

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.