Kessler Investment Group LLC Sells 3,500 Shares of Foot Locker, Inc. (NYSE:FL)

Kessler Investment Group LLC lessened its position in Foot Locker, Inc. (NYSE:FL) by 46.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,113 shares of the athletic footwear retailer’s stock after selling 3,500 shares during the period. Kessler Investment Group LLC’s holdings in Foot Locker were worth $106,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FL. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Foot Locker during the first quarter worth approximately $3,488,000. Public Employees Retirement System of Ohio bought a new position in Foot Locker in the 1st quarter valued at $2,194,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Foot Locker in the first quarter worth $2,670,000. Renaissance Technologies LLC bought a new position in shares of Foot Locker in the second quarter valued at about $1,024,000. Finally, Interval Partners LP bought a new position in Foot Locker in the 1st quarter valued at $5,700,000.

Foot Locker Stock Down 2.2 %

Shares of NYSE FL traded down $0.52 during mid-day trading on Tuesday, hitting $23.23. The company had a trading volume of 286,358 shares, compared to its average volume of 3,251,175. The company has a market capitalization of $2.20 billion, a PE ratio of -6.27, a price-to-earnings-growth ratio of 0.60 and a beta of 1.43. The firm has a 50-day simple moving average of $27.65 and a two-hundred day simple moving average of $25.53. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a one year low of $19.44 and a one year high of $35.60.

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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, equities analysts expect that Foot Locker, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the business’s 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 completion of the sale, the insider now owns 10,393,592 shares in the company, valued at $345,275,126.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 787,566 shares of company stock worth $26,090,866. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $27.00 to $34.00 in a report on Thursday, August 29th. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Gordon Haskett started coverage on shares of Foot Locker in a research note on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Finally, Citigroup raised their price objective on Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Foot Locker has a consensus rating of “Hold” and a consensus target price of $25.94.

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.