Principal Financial Group Inc. Increases Position in Foot Locker, Inc. (NYSE:FL)

Principal Financial Group Inc. grew its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 411,173 shares of the athletic footwear retailer's stock after buying an additional 10,940 shares during the period. Principal Financial Group Inc. owned 0.43% of Foot Locker worth $5,798,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbour Investments Inc. boosted its holdings in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after purchasing an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Foot Locker during the fourth quarter worth $32,000. GAMMA Investing LLC boosted its holdings in shares of Foot Locker by 250.6% during the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock worth $35,000 after purchasing an additional 1,764 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock worth $57,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Pingora Partners LLC acquired a new stake in shares of Foot Locker during the fourth quarter worth $61,000.

Wall Street Analysts Forecast Growth

FL has been the topic of several analyst reports. Citigroup raised their price objective on Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Piper Sandler decreased their price objective on Foot Locker from $19.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wall Street Zen cut Foot Locker from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Needham & Company LLC set a $24.00 price objective on Foot Locker in a report on Thursday, May 29th. Finally, Gordon Haskett cut Foot Locker from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 15th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $21.20.

Insider Activity at Foot Locker

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total transaction of $557,336.70. Following the transaction, the chief accounting officer owned 93,895 shares in the company, valued at $2,337,985.50. The trade was a 19.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Foot Locker Stock Up 1.4%

Shares of FL traded up $0.36 during midday trading on Thursday, reaching $25.15. 2,324,703 shares of the company were exchanged, compared to its average volume of 4,106,773. The stock has a 50-day moving average price of $23.08 and a 200-day moving average price of $18.96. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -6.67, a P/E/G ratio of 2.08 and a beta of 1.72. Foot Locker, Inc. has a 1-year low of $11.00 and a 1-year high of $33.94. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The athletic footwear retailer reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). The company had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.86 billion. Foot Locker had a positive return on equity of 3.65% and a negative net margin of 4.54%. The firm's quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Research analysts expect that Foot Locker, Inc. will post 1.23 earnings per share 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.