Lane Generational LLC Takes Position in Foot Locker, Inc. (NYSE:FL)

Lane Generational LLC purchased a new position in Foot Locker, Inc. (NYSE:FL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 146,805 shares of the athletic footwear retailer's stock, valued at approximately $2,070,000. Foot Locker accounts for approximately 2.3% of Lane Generational LLC's investment portfolio, making the stock its 19th largest position. Lane Generational LLC owned 0.15% of Foot Locker as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Readystate Asset Management LP acquired a new position in shares of Foot Locker in the 1st quarter worth approximately $361,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Foot Locker in the 1st quarter worth approximately $888,000. Segall Bryant & Hamill LLC lifted its position in shares of Foot Locker by 26.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,082,713 shares of the athletic footwear retailer's stock worth $15,266,000 after purchasing an additional 226,111 shares during the period. Victory Capital Management Inc. lifted its stake in Foot Locker by 29.2% in the first quarter. Victory Capital Management Inc. now owns 20,577 shares of the athletic footwear retailer's stock valued at $290,000 after buying an additional 4,646 shares during the period. Finally, Signaturefd LLC lifted its stake in Foot Locker by 27.2% in the first 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.

Insider Buying and Selling at Foot Locker

In other news, CAO Giovanna Cipriano sold 22,383 shares of the firm'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 value of $557,336.70. Following the transaction, the chief accounting officer owned 93,895 shares in the company, valued at $2,337,985.50. This trade represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Foot Locker Stock Up 1.3%

FL stock traded up $0.33 during midday trading on Friday, reaching $25.50. 776,763 shares of the company's stock traded hands, compared to its average volume of 3,652,886. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -6.76, a P/E/G ratio of 2.13 and a beta of 1.72. The firm's fifty day moving average price is $24.40 and its 200-day moving average price is $19.13. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. Foot Locker, Inc. has a 52 week low of $11.00 and a 52 week high of $33.94.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on FL. The Goldman Sachs Group dropped their price target on Foot Locker from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler dropped their price target 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. Wall Street Zen lowered Foot Locker from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Gordon Haskett lowered Foot Locker from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley dropped their price target on Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.20.

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.