Foot Locker, Inc. (NYSE:FL) Shares Acquired 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 grew its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 246.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,682 shares of the athletic footwear retailer's stock after buying an additional 10,449 shares during the period. Bayforest Capital Ltd's holdings in Foot Locker were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Foot Locker in the fourth quarter valued at $381,000. LPL Financial LLC increased its position in Foot Locker by 38.8% during the fourth quarter. LPL Financial LLC now owns 21,789 shares of the athletic footwear retailer's stock valued at $474,000 after acquiring an additional 6,090 shares during the last quarter. Vanguard Group Inc. increased its position in Foot Locker by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer's stock valued at $228,589,000 after acquiring an additional 210,832 shares during the last quarter. Norges Bank bought a new position in Foot Locker during the fourth quarter valued at $4,419,000. Finally, ExodusPoint Capital Management LP bought a new position in Foot Locker during the fourth quarter valued at $3,338,000.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FL shares. Gordon Haskett cut shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 15th. Evercore ISI lowered their target price on shares of Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 target price on shares of Foot Locker in a research note on Friday, May 30th. The Goldman Sachs Group lowered their target price on shares of Foot Locker from $19.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler lowered their price objective on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $21.20.

Foot Locker Stock Up 0.5%

Shares of FL traded up $0.13 during mid-day trading on Monday, hitting $24.78. 1,078,512 shares of the company traded hands, compared to its average volume of 2,755,752. Foot Locker, Inc. has a 1-year low of $11.00 and a 1-year high of $33.94. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.36 billion, a PE ratio of -6.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.75. The business has a 50 day moving average of $24.53 and a 200 day moving average of $19.27.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data 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 firm 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 company posted $0.22 earnings per share. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current year.

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.