Canada Pension Plan Investment Board Increases Holdings in Foot Locker, Inc. $FL

Key Points

• The Canada Pension Plan Investment Board increased its stake in Foot Locker by 36.4%, acquiring an additional 63,500 shares to bring its total ownership to 238,000 shares valued at approximately $3.36 million.
• Foot Locker reported a loss of $0.27 per share in its recent quarterly earnings, missing the consensus estimate, with a revenue of $1.86 billion, down 2.3% from the previous year.
• Foot Locker's stock has seen a 52-week low of $11.00 and a high of $29.24, currently trading around $24.11, with a consensus rating of "Hold" from analysts.

Canada Pension Plan Investment Board grew its position in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 36.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238,000 shares of the athletic footwear retailer's stock after acquiring an additional 63,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.25% of Foot Locker worth $3,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its holdings in Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock worth $41,483,000 after acquiring an additional 770,932 shares during the period. Jump Financial LLC increased its stake in Foot Locker by 691.4% during the 1st quarter. Jump Financial LLC now owns 472,118 shares of the athletic footwear retailer's stock worth $6,657,000 after acquiring an additional 412,461 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Foot Locker in the first quarter valued at approximately $5,311,000. Trexquant Investment LP bought a new stake in shares of Foot Locker in the 1st quarter valued at $4,268,000. Finally, Voloridge Investment Management LLC lifted its stake in Foot Locker by 66.8% during the 4th quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer's stock valued at $16,044,000 after acquiring an additional 295,243 shares in the last quarter.

Insider Buying and Selling

In related news, President Franklin Bracken sold 14,922 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $24.50, for a total value of $365,589.00. Following the completion of the sale, the president directly owned 213,496 shares in the company, valued at $5,230,652. The trade was a 6.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Giovanna Cipriano sold 22,383 shares of Foot Locker stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total transaction of $557,336.70. Following the transaction, the chief accounting officer directly owned 93,895 shares of the company's stock, valued at $2,337,985.50. This represents a 19.25% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FL. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Foot Locker in a research report on Wednesday, August 27th. Gordon Haskett downgraded Foot Locker from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 15th. Robert W. Baird upped their price objective on 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 report on Wednesday, August 27th. Finally, JPMorgan Chase & Co. upgraded shares of Foot Locker from an "underweight" rating to a "neutral" rating and raised their price target for the company from $16.00 to $24.00 in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $21.33.

Foot Locker Stock Performance

Shares of FL stock traded down $0.08 during midday trading on Monday, hitting $24.03. The company had a trading volume of 8,308,221 shares, compared to its average volume of 5,609,406. The company's 50 day simple moving average is $25.18 and its 200 day simple moving average is $20.24. Foot Locker, Inc. has a 52-week low of $11.00 and a 52-week high of $29.24. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -5.96, a PEG ratio of 2.17 and a beta of 1.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.59 and a quick ratio of 0.45.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing the consensus estimate 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 revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. Research analysts anticipate that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal 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.