Caxton Associates LLP Buys New Stake in Foot Locker, Inc. $FL

Key Points

• Caxton Associates LLP acquired a new stake in Foot Locker, purchasing 43,617 shares valued at approximately $615,000 during the first quarter.
• Institutional investors have been actively adjusting their positions in Foot Locker, with Ameriprise Financial increasing its holdings by 66.5% and GAMMA Investing LLC by 250.6%.
• Foot Locker's recent earnings report missed consensus estimates, reporting an EPS of ($0.27) and experiencing a 2.3% drop in quarterly revenue compared to last year.

Caxton Associates LLP bought a new stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 43,617 shares of the athletic footwear retailer's stock, valued at approximately $615,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in Foot Locker by 66.5% during the fourth quarter. Ameriprise Financial Inc. now owns 541,659 shares of the athletic footwear retailer's stock valued at $11,786,000 after purchasing an additional 216,352 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Foot Locker by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,207,430 shares of the athletic footwear retailer's stock valued at $17,025,000 after purchasing an additional 30,981 shares during the period. Vontobel Holding Ltd. lifted its position in Foot Locker by 55.0% during the first quarter. Vontobel Holding Ltd. now owns 46,847 shares of the athletic footwear retailer's stock valued at $661,000 after purchasing an additional 16,618 shares during the period. GAMMA Investing LLC lifted its position in Foot Locker by 250.6% during the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after purchasing an additional 1,764 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Foot Locker during the first quarter valued at $176,000.

Analyst Upgrades and Downgrades

FL has been the subject of a number of research reports. Zacks Research upgraded shares of Foot Locker from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price objective on shares of Foot Locker in a report on Tuesday. Robert W. Baird lifted their price objective on shares of Foot Locker from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised shares of Foot Locker from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $16.00 to $24.00 in a report on Thursday, May 15th. Finally, Barclays cut shares of Foot Locker from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Foot Locker has a consensus rating of "Hold" and an average target price of $21.33.

Insider Activity

In other news, President Franklin Bracken sold 14,922 shares of Foot Locker stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $24.50, for a total value of $365,589.00. Following the sale, the president owned 213,496 shares in the company, valued at $5,230,652. This trade represents a 6.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Giovanna Cipriano sold 22,383 shares of Foot Locker 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 disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Foot Locker Stock Down 0.3%

Shares of NYSE FL opened at $24.03 on Friday. The company's 50-day simple moving average is $25.13 and its 200-day simple moving average is $20.37. Foot Locker, Inc. has a 52-week low of $11.00 and a 52-week high of $29.24. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -5.96, a price-to-earnings-growth ratio of 2.17 and a beta of 1.79. The company has a quick ratio of 0.45, a current ratio of 1.59 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.32). Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned ($0.05) EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Foot Locker 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.

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