KBC Group NV Lowers Stake in Foot Locker, Inc. (NYSE:FL)

KBC Group NV cut its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 95.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,641 shares of the athletic footwear retailer's stock after selling 115,852 shares during the period. KBC Group NV's holdings in Foot Locker were worth $80,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Foot Locker by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer's stock valued at $228,589,000 after buying an additional 210,832 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Foot Locker by 67.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock worth $41,483,000 after buying an additional 770,932 shares during the period. American Century Companies Inc. raised its stake in shares of Foot Locker by 5.2% in the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer's stock worth $36,104,000 after purchasing an additional 81,814 shares during the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Foot Locker in the fourth quarter worth approximately $34,835,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of Foot Locker in the fourth quarter worth approximately $30,416,000.

Insider Buying and Selling at Foot Locker

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FL. Robert W. Baird set a $24.00 price target on Foot Locker in a research report on Thursday, May 29th. JPMorgan Chase & Co. raised Foot Locker from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $16.00 to $24.00 in a report on Thursday, May 15th. Barclays lowered Foot Locker from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 29th. Evercore ISI cut their price target on Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Piper Sandler cut their price target on Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $21.20.

Foot Locker Stock Performance

NYSE:FL traded down $0.27 during mid-day trading on Friday, hitting $25.05. The company's stock had a trading volume of 2,396,858 shares, compared to its average volume of 4,109,990. Foot Locker, Inc. has a 1 year low of $11.00 and a 1 year high of $33.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.49. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -6.64, a PEG ratio of 2.10 and a beta of 1.72. The business's fifty day moving average is $22.30 and its two-hundred day moving average is $18.89.

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

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.