Bank of New York Mellon Corp Sells 499,047 Shares of Foot Locker, Inc. (NYSE:FL)

Bank of New York Mellon Corp reduced its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 34.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 930,823 shares of the athletic footwear retailer's stock after selling 499,047 shares during the quarter. Bank of New York Mellon Corp owned 0.98% of Foot Locker worth $13,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. boosted its holdings in shares of Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after buying an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Foot Locker in the 4th quarter valued at about $32,000. GAMMA Investing LLC raised its stake in Foot Locker by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after acquiring an additional 1,764 shares during the period. Sterling Capital Management LLC raised its stake in Foot Locker by 819.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after acquiring an additional 2,343 shares during the period. Finally, Pingora Partners LLC bought a new stake in Foot Locker in the 4th quarter valued at about $61,000.

Foot Locker Trading Down 1.3%

Shares of NYSE:FL traded down $0.33 during trading on Thursday, reaching $25.16. 1,793,090 shares of the company traded hands, compared to its average volume of 3,713,117. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.67, a P/E/G ratio of 2.13 and a beta of 1.72. Foot Locker, Inc. has a 52-week low of $11.00 and a 52-week 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. The business's fifty day moving average is $24.37 and its 200-day moving average is $19.11.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Foot Locker from $19.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group decreased their price objective on shares of Foot Locker from $19.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, April 22nd. Citigroup upped their price objective on shares of Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 target price on shares of Foot Locker in a research note on Friday, May 30th. Finally, Barclays lowered Foot Locker from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 29th. 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $21.20.

Insider Activity at Foot Locker

In related news, CAO Giovanna Cipriano sold 22,383 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total transaction of $557,336.70. Following the completion of the transaction, the chief accounting officer owned 93,895 shares in the company, valued at $2,337,985.50. This represents a 19.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by corporate 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.