Foot Locker, Inc. (NYSE:FL) Holdings Lifted by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has increased its stake in Foot Locker by 246.8% in the first quarter, owning 14,682 shares valued at approximately $207,000.
• Foot Locker's recent financial performance showed a negative net margin of 4.54% and a revenue decline of 4.6% year-over-year, with an EPS report of ($0.07) for the last quarter.
• Various analysts have lowered their target prices for Foot Locker, with Piper Sandler setting a new target of $12.00 and rating it as "neutral," while maintaining a consensus rating of "Hold" across the board.

Bayforest Capital Ltd increased its holdings in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 246.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,682 shares of the athletic footwear retailer's stock after acquiring an additional 10,449 shares during the quarter. Bayforest Capital Ltd's holdings in Foot Locker were worth $207,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Foot Locker in the 4th quarter valued at $32,000. GAMMA Investing LLC boosted its stake in shares of Foot Locker by 250.6% in the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after purchasing an additional 1,764 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Foot Locker by 819.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after purchasing an additional 2,343 shares in the last quarter. Pingora Partners LLC purchased a new stake in Foot Locker during the 4th quarter worth approximately $61,000. Finally, Signaturefd LLC boosted its position in Foot Locker by 27.2% in the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after buying an additional 980 shares during the period.

Analyst Upgrades and Downgrades

FL has been the topic of several analyst reports. Morgan Stanley reduced their target price on shares of Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Foot Locker in a report on Friday, May 30th. Needham & Company LLC set a $24.00 price objective on shares of Foot Locker in a research report on Thursday, May 29th. Barclays downgraded shares of Foot Locker from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 29th. Finally, Gordon Haskett cut Foot Locker from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $21.20.

Foot Locker Price Performance

FL traded up $0.41 on Wednesday, hitting $25.27. 2,335,540 shares of the company were exchanged, compared to its average volume of 4,563,379. Foot Locker, Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $33.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.49 and a current ratio of 1.64. The firm has a market capitalization of $2.41 billion, a P/E ratio of -6.70, a price-to-earnings-growth ratio of 2.07 and a beta of 1.75. The business's fifty day moving average is $24.57 and its 200 day moving average is $19.34.

Foot Locker (NYSE:FL - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current year.

Insider Activity at Foot Locker

In related news, CAO Giovanna Cipriano sold 22,383 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total transaction of $557,336.70. Following the completion of the sale, the chief accounting officer directly owned 93,895 shares of the company's stock, valued at approximately $2,337,985.50. This trade represents a 19.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Foot Locker 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.