Foot Locker, Inc. (NYSE:FL) Short Interest Update

Foot Locker, Inc. (NYSE:FL) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 11,110,000 shares, a growth of 15.2% from the July 15th total of 9,640,000 shares. Based on an average daily volume of 2,840,000 shares, the short-interest ratio is currently 3.9 days. Approximately 13.5% of the shares of the stock are short sold.

Foot Locker Stock Down 0.7 %

FL stock traded down $0.23 during mid-day trading on Friday, reaching $32.57. The company had a trading volume of 1,336,108 shares, compared to its average volume of 3,258,941. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -8.59, a PEG ratio of 0.75 and a beta of 1.46. Foot Locker has a 52 week low of $14.84 and a 52 week high of $35.60. The stock has a 50 day simple moving average of $26.30 and a two-hundred day simple moving average of $25.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 0.50.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. As a group, equities analysts predict that Foot Locker will post 1.52 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Foot Locker by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock valued at $117,123,000 after purchasing an additional 71,152 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Foot Locker by 23.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after acquiring an additional 557,489 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Foot Locker by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock valued at $29,738,000 after acquiring an additional 81,684 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Foot Locker by 326.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after purchasing an additional 705,237 shares in the last quarter. Finally, Invenomic Capital Management LP raised its stake in Foot Locker by 54.3% in the 1st quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock worth $21,441,000 after purchasing an additional 264,598 shares in the last quarter.

Analysts Set New Price Targets

FL has been the topic of several recent research reports. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price target on shares of Foot Locker in a research note on Thursday, May 30th. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Barclays lifted their target price on shares of Foot Locker from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Finally, Wedbush reissued a “neutral” rating and issued a $25.00 price target on shares of Foot Locker in a research note on Wednesday, June 12th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and a consensus price target of $23.73.

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.