Foot Locker, Inc. (NYSE:FL) Sees Significant Growth in Short Interest

Financial News Live · Dec 5, 2022 13:31

Foot Locker, Inc. (NYSE:FL – Get Rating) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 9,380,000 shares, a growth of 5.9% from the October 31st total of 8,860,000 shares. Currently, 11.7% of the shares of the stock are short sold. Based on an average trading volume of 2,700,000 shares, the days-to-cover ratio is currently 3.5 days.

Foot Locker Stock Up 2.2 %

NYSE FL traded up $0.87 during trading hours on Friday, hitting $40.04. The company had a trading volume of 2,169,214 shares, compared to its average volume of 3,317,839. Foot Locker has a fifty-two week low of $23.85 and a fifty-two week high of $47.42. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 0.28 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 0.43. The firm's 50 day moving average is $33.41 and its 200 day moving average is $32.03.

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Foot Locker (NYSE:FL – Get Rating) last announced its quarterly earnings results on Friday, November 18th. The athletic footwear retailer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.18. Foot Locker had a return on equity of 16.98% and a net margin of 4.87%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.12 billion. Sell-side analysts anticipate that Foot Locker will post 4.49 earnings per share for the current fiscal year.

Foot Locker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, January 12th. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. Foot Locker's dividend payout ratio is presently 36.45%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FL shares. JPMorgan Chase & Co. reduced their target price on Foot Locker from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Monday, October 31st. The Goldman Sachs Group upped their target price on Foot Locker from $28.00 to $37.00 and gave the company a "neutral" rating in a research note on Monday, August 22nd. Morgan Stanley reduced their target price on Foot Locker from $36.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 22nd. StockNews.com raised Foot Locker from a "sell" rating to a "hold" rating in a research note on Monday, November 28th. Finally, Cowen increased their price target on Foot Locker from $35.00 to $39.00 in a research note on Monday, November 21st. Twenty analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Foot Locker presently has a consensus rating of "Hold" and a consensus target price of $38.00.

Insider Transactions at Foot Locker

In other news, SVP Todd Greener sold 2,500 shares of the business's stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $30.99, for a total transaction of $77,475.00. Following the sale, the senior vice president now owns 8,421 shares of the company's stock, valued at approximately $260,966.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Todd Greener sold 2,500 shares of the business's stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $30.99, for a total transaction of $77,475.00. Following the sale, the senior vice president now owns 8,421 shares of the company's stock, valued at approximately $260,966.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Vesa Equity Investment S.A R.L sold 9,739 shares of the business's stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $39.03, for a total value of $380,113.17. Following the sale, the insider now directly owns 12,740,578 shares in the company, valued at approximately $497,264,759.34. The disclosure for this sale can be found here. Insiders have sold 557,380 shares of company stock valued at $18,395,121 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Foot Locker

Large investors have recently modified their holdings of the business. Independent Advisor Alliance lifted its position in shares of Foot Locker by 3.1% during the third quarter. Independent Advisor Alliance now owns 16,562 shares of the athletic footwear retailer's stock worth $516,000 after purchasing an additional 500 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Foot Locker by 173.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 849 shares of the athletic footwear retailer's stock worth $25,000 after purchasing an additional 539 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Foot Locker by 68.3% during the first quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer's stock worth $40,000 after purchasing an additional 542 shares during the last quarter. Stansberry Asset Management LLC lifted its position in shares of Foot Locker by 2.1% during the second quarter. Stansberry Asset Management LLC now owns 28,690 shares of the athletic footwear retailer's stock worth $725,000 after purchasing an additional 578 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Foot Locker by 17.1% during the third quarter. Signaturefd LLC now owns 4,143 shares of the athletic footwear retailer's stock worth $129,000 after purchasing an additional 606 shares during the last quarter. 98.06% of the stock is currently owned by institutional investors and hedge funds.

About Foot Locker

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Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep brand names.

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