Foot Locker (NYSE:FL) Stock Price Down 3.3%

Foot Locker, Inc. (NYSE:FL) fell 3.3% on Monday . The company traded as low as $25.26 and last traded at $25.29. 1,253,849 shares were traded during mid-day trading, a decline of 62% from the average session volume of 3,307,669 shares. The stock had previously closed at $26.16.

Analysts Set New Price Targets

Several brokerages have issued reports on FL. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Telsey Advisory Group reissued a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Finally, Evercore ISI boosted their price target on shares of Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 26th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.40.

Foot Locker Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The firm has a market cap of $2.30 billion, a PE ratio of -6.56, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The firm has a 50-day simple moving average of $28.02 and a 200 day simple moving average of $25.91.

Insiders Place Their Bets

In other news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 787,566 shares of company stock worth $26,090,866 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Foot Locker

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Foot Locker in the second quarter worth approximately $31,000. Fifth Third Bancorp boosted its stake in Foot Locker by 116.0% during the 2nd 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. Quadrant Capital Group LLC grew its holdings in shares of Foot Locker by 3,004.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after buying an additional 1,352 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Foot Locker in the second quarter worth about $43,000.

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.