Bayforest Capital Ltd Acquires 10,449 Shares of Foot Locker, Inc. $FL

Key Points

• Bayforest Capital Ltd increased its holdings in Foot Locker, Inc. by 246.8%, owning 14,682 shares, which were worth $207,000 at the end of the most recent reporting period.
• Foot Locker's earnings report indicated a loss of ($0.27) per share for the quarter, missing analysts' expectations of $0.05, with revenue dropping 2.3% year-over-year.
• Analysts have mixed reviews on Foot Locker, with a consensus target price of $21.33 and ratings ranging from Buy to Sell.

Bayforest Capital Ltd lifted its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 246.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,682 shares of the athletic footwear retailer's stock after acquiring an additional 10,449 shares during the period. Bayforest Capital Ltd's holdings in Foot Locker were worth $207,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Foot Locker by 14.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,304 shares of the athletic footwear retailer's stock worth $4,248,000 after acquiring an additional 37,838 shares in the last quarter. Empowered Funds LLC boosted its holdings in Foot Locker by 1.7% during the first quarter. Empowered Funds LLC now owns 423,463 shares of the athletic footwear retailer's stock worth $5,971,000 after purchasing an additional 6,965 shares during the last quarter. Caxton Associates LLP acquired a new position in Foot Locker during the first quarter worth $615,000. Goldman Sachs Group Inc. boosted its holdings in Foot Locker by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,174,832 shares of the athletic footwear retailer's stock worth $44,765,000 after purchasing an additional 136,836 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Foot Locker by 343.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 126,432 shares of the athletic footwear retailer's stock worth $1,783,000 after purchasing an additional 97,924 shares during the last quarter.

Insider Transactions at Foot Locker

In other news, CAO Giovanna Cipriano sold 22,383 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total transaction of $557,336.70. Following the completion of the sale, the chief accounting officer owned 93,895 shares in the company, valued at approximately $2,337,985.50. This trade represents a 19.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Franklin Bracken sold 14,922 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $24.50, for a total transaction of $365,589.00. Following the transaction, the president directly owned 213,496 shares in the company, valued at approximately $5,230,652. This represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FL. Zacks Research upgraded shares of Foot Locker from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Robert W. Baird increased their target price on shares of Foot Locker from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Needham & Company LLC reiterated a "hold" rating on shares of Foot Locker in a research note on Wednesday, August 27th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Foot Locker in a research note on Tuesday, September 9th. Finally, Wall Street Zen cut shares of Foot Locker to a "strong sell" rating in a research note on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $21.33.

Foot Locker Stock Performance

Shares of NYSE FL traded down $0.08 during mid-day trading on Wednesday, reaching $24.03. 8,308,221 shares of the company were exchanged, compared to its average volume of 5,609,406. The company's 50-day simple moving average is $25.08 and its 200-day simple moving average is $20.53. The company has a quick ratio of 0.45, a current ratio of 1.59 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.30 billion, a P/E ratio of -5.96, a P/E/G ratio of 2.17 and a beta of 1.79. Foot Locker, Inc. has a twelve month low of $11.00 and a twelve month high of $29.24.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.32). The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.87 billion. Foot Locker had a positive return on equity of 2.92% and a negative net margin of 4.90%.The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. As a group, research analysts predict that Foot Locker, Inc. will post 1.23 earnings per share 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.