Kessler Investment Group LLC Has $106,000 Stake in Foot Locker, Inc. (NYSE:FL)

Kessler Investment Group LLC reduced its position in shares of Foot Locker, Inc. (NYSE:FL) by 46.0% in the 3rd quarter, Holdings Channel reports. The firm owned 4,113 shares of the athletic footwear retailer’s stock after selling 3,500 shares during the period. Kessler Investment Group LLC’s holdings in Foot Locker were worth $106,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Foot Locker by 537.0% during the third quarter. Blue Trust Inc. now owns 2,981 shares of the athletic footwear retailer’s stock worth $74,000 after buying an additional 2,513 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Foot Locker during the third quarter worth $47,000. Vontobel Holding Ltd. increased its holdings in shares of Foot Locker by 12.2% during the third quarter. Vontobel Holding Ltd. now owns 11,144 shares of the athletic footwear retailer’s stock worth $288,000 after buying an additional 1,210 shares in the last quarter. Creative Planning grew its stake in shares of Foot Locker by 42.1% in the third quarter. Creative Planning now owns 13,823 shares of the athletic footwear retailer’s stock worth $357,000 after purchasing an additional 4,093 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Foot Locker by 31.3% in the third quarter. Handelsbanken Fonder AB now owns 25,200 shares of the athletic footwear retailer’s stock valued at $651,000 after purchasing an additional 6,000 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FL. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Morgan Stanley downgraded Foot Locker from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Robert W. Baird reduced their target price on Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Gordon Haskett began coverage on Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 target price for the company. Finally, Piper Sandler restated a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.94.

Foot Locker Stock Performance

Shares of FL traded down $0.52 during mid-day trading on Tuesday, hitting $23.23. The stock had a trading volume of 286,358 shares, compared to its average volume of 3,251,175. The firm has a market cap of $2.20 billion, a P/E ratio of -6.27, a PEG ratio of 0.60 and a beta of 1.43. The business has a fifty day moving average price of $27.65 and a 200-day moving average price of $25.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. Foot Locker, Inc. has a 52 week low of $19.44 and a 52 week high of $35.60.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. On average, equities research analysts expect that Foot Locker, Inc. will post 1.49 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total transaction of $49,350.00. Following the completion of the sale, the insider now directly owns 11,402,353 shares in the company, valued at $375,137,413.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 787,566 shares of company stock worth $26,090,866 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Foot Locker Company 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.