American Century Companies Inc. Buys 281,322 Shares of Foot Locker, Inc. $FL

Key Points

• American Century Companies Inc. increased its stake in Foot Locker, Inc. by 17.0% during the first quarter, now owning approximately 2.04% of the company, valued at about $27.36 million.
• Foot Locker reported (0.07) earnings per share, meeting consensus estimates, while its revenue of $1.79 billion fell short of analyst projections.
• As of now, Foot Locker holds a consensus rating of "Hold" among analysts, with an average price target of $21.20.

American Century Companies Inc. boosted its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 17.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,940,528 shares of the athletic footwear retailer's stock after buying an additional 281,322 shares during the quarter. American Century Companies Inc. owned approximately 2.04% of Foot Locker worth $27,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of Foot Locker by 27.2% during the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after purchasing an additional 980 shares in the last quarter. GAMMA Investing LLC raised its holdings in Foot Locker by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock worth $35,000 after acquiring an additional 1,764 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Foot Locker by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,462 shares of the athletic footwear retailer's stock worth $1,033,000 after acquiring an additional 1,786 shares during the period. Investors Research Corp raised its holdings in Foot Locker by 19.7% in the 1st quarter. Investors Research Corp now owns 11,529 shares of the athletic footwear retailer's stock worth $163,000 after acquiring an additional 1,900 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Foot Locker by 11.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,426 shares of the athletic footwear retailer's stock worth $423,000 after acquiring an additional 2,026 shares during the period.

Insider Buying and Selling

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $557,336.70. Following the transaction, the chief accounting officer directly owned 93,895 shares in the company, valued at $2,337,985.50. The trade was a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on FL shares. Gordon Haskett downgraded shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upgraded shares of Foot Locker from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $16.00 to $24.00 in a report on Thursday, May 15th. Morgan Stanley decreased their price target on shares of Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Telsey Advisory Group restated a "market perform" rating and issued a $24.00 price target on shares of Foot Locker in a research report on Wednesday. Finally, Zacks Research upgraded shares of Foot Locker from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $21.20.

Foot Locker Price Performance

NYSE FL traded down $1.64 on Thursday, reaching $24.83. The company's stock had a trading volume of 4,131,657 shares, compared to its average volume of 4,635,645. The firm has a market cap of $2.37 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of 2.21 and a beta of 1.75. The business has a 50-day moving average price of $25.14 and a 200 day moving average price of $19.99. Foot Locker, Inc. has a 52 week low of $11.00 and a 52 week high of $31.43. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL - Get Free Report) last posted its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.32). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. Sell-side analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

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.