Foot Locker, Inc. (NYSE:FL) Short Interest Down 5.3% in September

Foot Locker, Inc. (NYSE:FL) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 8,950,000 shares, a drop of 5.3% from the September 15th total of 9,450,000 shares. Based on an average daily volume of 3,020,000 shares, the short-interest ratio is presently 3.0 days. Approximately 10.7% of the company’s stock are short sold.

Foot Locker Price Performance

Shares of NYSE:FL opened at $24.80 on Thursday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -6.41, a PEG ratio of 0.58 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. Foot Locker has a 12 month low of $19.44 and a 12 month high of $35.60. The stock’s 50 day moving average price is $27.87 and its 200 day moving average price is $25.56.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Equities research analysts anticipate that Foot Locker will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 10,393,592 shares of the company’s stock, valued at $345,275,126.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 787,566 shares of company stock worth $26,090,866. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Foot Locker

Large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. bought a new stake in shares of Foot Locker in the 1st quarter worth approximately $100,000. Fortis Group Advisors LLC acquired a new position in Foot Locker in the first quarter worth approximately $298,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Foot Locker by 12.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,598 shares of the athletic footwear retailer’s stock valued at $1,357,000 after buying an additional 5,454 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Foot Locker by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 71,696 shares of the athletic footwear retailer’s stock valued at $2,043,000 after acquiring an additional 931 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Foot Locker by 22.8% during the 1st quarter. Empowered Funds LLC now owns 339,557 shares of the athletic footwear retailer’s stock worth $9,677,000 after acquiring an additional 63,058 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Foot Locker in a report on Friday, August 23rd. Evercore ISI lifted 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. Citigroup increased their price target on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. Finally, Robert W. Baird dropped their target price on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and an average target price of $25.94.

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.