Insider Selling: Foot Locker (NYSE:FL) President Sells 14,922 Shares of Stock

Key Points

• Foot Locker President Franklin Bracken sold 14,922 shares at an average price of $24.50, totaling $365,589, which represents a 6.53% decrease in his ownership.
• The company reported a quarterly earnings loss of ($0.27) EPS, missing estimates and reflecting a 2.3% decline in revenue year-over-year.
• Foot Locker's stock currently has a consensus rating of "Hold" with an average price target of $21.33.

Foot Locker, Inc. (NYSE:FL - Get Free Report) President Franklin Bracken sold 14,922 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $24.50, for a total value of $365,589.00. Following the transaction, the president owned 213,496 shares of the company's stock, valued at approximately $5,230,652. The trade was a 6.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Foot Locker Trading Down 0.3%

FL traded down $0.08 during trading hours on Friday, reaching $24.03. 8,308,221 shares of the company's stock traded hands, compared to its average volume of 5,354,551. The firm has a 50-day moving average price of $25.18 and a 200 day moving average price of $20.22. Foot Locker, Inc. has a 52-week low of $11.00 and a 52-week high of $29.24. The company has a quick ratio of 0.45, a current ratio of 1.59 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.30 billion, a PE ratio of -5.96, a PEG ratio of 2.18 and a beta of 1.79.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.32). Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. Foot Locker's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in Foot Locker by 0.8% during the second quarter. Thrivent Financial for Lutherans now owns 61,293 shares of the athletic footwear retailer's stock valued at $1,502,000 after purchasing an additional 496 shares in the last quarter. Boussard & Gavaudan Investment Management LLP bought a new stake in Foot Locker during the second quarter valued at about $3,505,000. Hudson Bay Capital Management LP bought a new stake in Foot Locker during the second quarter valued at about $6,125,000. Public Sector Pension Investment Board boosted its position in Foot Locker by 8.3% during the second quarter. Public Sector Pension Investment Board now owns 283,482 shares of the athletic footwear retailer's stock valued at $6,945,000 after purchasing an additional 21,723 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in Foot Locker by 43.1% in the second quarter. State of Tennessee Department of Treasury now owns 28,640 shares of the athletic footwear retailer's stock valued at $702,000 after buying an additional 8,625 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Foot Locker in a research report on Wednesday, August 27th. Citigroup increased their price target on Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised Foot Locker from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $16.00 to $24.00 in a research report on Thursday, May 15th. Zacks Research raised Foot Locker from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $21.33.

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.