Foot Locker, Inc. (NYSE:FL) Short Interest Down 18.2% in August

Foot Locker, Inc. (NYSE:FL) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 9,720,000 shares, a decrease of 18.2% from the August 15th total of 11,880,000 shares. Approximately 11.6% of the shares of the company are sold short. Based on an average daily volume of 2,830,000 shares, the days-to-cover ratio is currently 3.4 days.

Insider Activity

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of Foot Locker stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the completion of the sale, the insider now owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 787,566 shares of company stock valued at $26,090,866 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors have recently added to or reduced their stakes in FL. Dimensional Fund Advisors LP increased its holdings 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 worth $117,123,000 after purchasing an additional 71,152 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Foot Locker by 23.8% in the 2nd 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 buying an additional 557,489 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Foot Locker by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock worth $29,738,000 after buying an additional 81,684 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Foot Locker by 326.4% during 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 acquiring an additional 705,237 shares during the last quarter. Finally, Invenomic Capital Management LP increased its position 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 valued at $21,441,000 after acquiring an additional 264,598 shares during the period.

Analyst Ratings Changes

FL has been the topic of a number of research reports. Evercore ISI upped their price objective on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 26th. Citigroup raised their price target on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com raised shares of Foot Locker from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Piper Sandler reaffirmed a “neutral” rating and set a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Finally, Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $34.00 in a research report on Thursday, August 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.40.

Foot Locker Stock Performance

Foot Locker stock opened at $27.34 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker has a 12-month low of $16.68 and a 12-month high of $35.60. The business’s 50-day moving average price is $28.24 and its two-hundred day moving average price is $25.67.

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.